Freezing interest on credit card

How do I go about asking my existing credit card holder to freeze interest on my credit card.


  • TixyTixy Forumite
    31.5K Posts
    Do you mean freeze an interest rate rise?
    Or to stop charging interest altogether? if its the latter have your financial circumstances changed and you can no longer afford the minimum repayments?

    If you cannot afford repayments and its likely just for a short period of time then often just calling up and discussing with the credit card provider will work (its worth writing out a detailed income & expenditure account to have to hand on the call so that you can give them those figures if they ask and can see that you cannot realistically afford repayments). This route usually involves arrangement to pay markers being put on your credit file.

    If its a long term problem then its usually best to write to your creditor, include an income & expendiuture account, explain your change in circumstances and how much you can afford to offer and ask if they will agree to freeze interest (they don't have to but they often will). Doing this will usually result in a default being placed on your credit file - so it might be worth speaking to a debt advice charity first.
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