Please help - freeze interest

katie4

Hi All
I am in a position now where i am able to put more money towards paying off my aqua credit card


Im wondering if i call them and tell them this would they be able to freeze the interest in order to get the debt cleared sooner?


or would i be better telling the im struggling and can they freeze it?


thanks

Ebe_Scrooge

Highly unlikely. Think about it - as long as you're paying at least the minimum, they're making money out of you. What's their incentive to freeze the interest ? From a purely business point of view, credit card providers don't want you to pay the debt off - they want you to carry on paying the minimum each month, and earn lots of lovely interest from you.


Interest only gets frozen when you're in genuine dire straits, and have missed a series of payments already ( thereby trashing your credit file ), and have come to an arrangement with them.

[Deleted User]

As you pay more off more quickly the amount of interest you are paying will reduce.

chattychappy

If you've held the account for a while and have a "clean" record, perhaps you could get a 0% Balance Transfer card and shift the balance so that you get your interest frozen that way! Maybe worth trying the eligibility checker?

That said, don't apply for another card if you think it might cause you to spend more!