Credit Card Interest Freeze whilst on Maternity

mummavee15

Hi All,
I'm hoping for some advice please. I'm currently on sick leave until 30th Jan, then I'm on annual leave until I begin maternity leave on 10th March.
Does anyone know if credit card companies like Barclaycard and Capital One will freeze my interest whilst I'm on leave so I can pay more off the actual balance?


My husband seems to think they will, but I wanted to check before I called them to see if they would.


Any help appreciated.


Many Thanks,
Claire

leeroy2009

slim to no chance of any freezing of interest, however get on the phone to Barclaycard now, and ask them to reduce the apr on your card, you might just find they oblige you, as Barclaycard is the only knowen card to do this, or get hubby / yourself to apply for a long term balance transfer card which would be a much better option.

molerat

Unless you are in arrears then unlikely. Any freezing of interest may put an AP marker on your credit file, a black mark which is likely to damage your, and OH's if linked, ability to get further credit for up to 6 years.

Cycrow

Generally they will only freeze the interest if you have defaulted on the account, if you are still keeping up with payments they probably wont.

you could always ask them to reduce the interest rate, which means you would be paying less interest. Barclaycard will often do this.

Theres no real harm in asking them however

Candyapple

Think about it, why would they purposefully freeze interest if you have been meeting payments and making them money the whole time?

You could try calling Barclaycard and asking them to reduce your APR, however to the best of my knowledge they will only usually offer this to you if you have a zero balance and they want to keep you as a customer.

leeroy2009

Candyapple wrote: »

Think about it, why would they purposefully freeze interest if you have been meeting payments and making them money the whole time?

You could try calling Barclaycard and asking them to reduce your APR, however to the best of my knowledge they will only usually offer this to you if you have a zero balance and they want to keep you as a customer.

not the case at all re barclaycard

mummavee15

Thanks for all of your replies. I thought it would be too goo to be true so thought I had best check first. x

leeroy2009

and op, have you logged into your Barclaycard account yet, there may be a transfer offer there to shift some of the capitalone balance, any savings there could be used as over payments to the Barclaycard to help clear the existing Barclaycard balance, as your capitalone card is probably 30%+ apr!

leeroy2009

mummavee15 wrote: »

Thanks for all of your replies. I thought it would be too goo to be true so thought I had best check first. x

ring Barclaycard for a apr reduction and follow my other advice in the post above - many of us have had apr reductions with Barclaycard with balances on the card, including me on 2 of my barclaycards.

Paully232000

there is a thread on the first page of someone who phoned up barclaycard and they reduced the interest rate. Maybe post in there and get a bit more info, and ring BC.

eddddy

Hi mummavee15

If you're looking for an APR reduction, I guess the tactic would be to suggest that you have no problem paying each month, and you have other cc companies offering you great deals. (i.e. "I'm a desirable customer - what are you going to offer to keep me?")


Suggesting that you need an APR reduction because you are squeezed financially might ring alarm bells. (They might look at reducing your limit etc.)