We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
The Forum is currently experiencing technical issues which the team are working to resolve. Thank you for your patience.
Closing/cancelling a credit card and how best clear debt
equityone
Posts: 22 Forumite
in Credit cards
My daughter has a credit card which she has not used since Oct 2019.
She has a £1300 balance @ 30%. She cannot get a low % balance transfer card longer than 6mths by using the various calculators.
Is there a way or any templates to ask the credit company if they would freeze the debt and cancel the card, then pay off the balance monthly.
She has a £1300 balance @ 30%. She cannot get a low % balance transfer card longer than 6mths by using the various calculators.
Is there a way or any templates to ask the credit company if they would freeze the debt and cancel the card, then pay off the balance monthly.
0
Comments
-
She should grab the 6 month BT with s many hands as she can. She then needs to pay as much as she can to the debt.
Tell her under no circumstances to ask her current lender to freeze the interest, unless she's happy to wreck her credit file.
2
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350K Banking & Borrowing
- 252.7K Reduce Debt & Boost Income
- 453.1K Spending & Discounts
- 242.9K Work, Benefits & Business
- 619.8K Mortgages, Homes & Bills
- 176.4K Life & Family
- 255.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 15.1K Coronavirus Support Boards