Requesting a 6m Interest Only Repayment - Credit Score Effect?

TheFrugalSaver

I am going through some financial issues and with recent huge spikes in minimum payments from Tesco and Barclaycard I am going to contact all my card companies (6) as to whether I can just pay the rounded upwards monthly interest per month for 6 months to give me some breathing room.

Do you know how they may react and most importantly if I do this, will it affect my credit score or be on my credit record? (as technically I am not missing a payment, just doing a reduced one)

MorningcoffeeIV

If you're going to make anything other than contractual payments, it will show as an arrangement or missed payments.

Any change to the credit score is immaterial.

sourcrates

Any arrangements you make with the card companies will only be short term, anything longer than 3 months, they will just refer you to the debt charities for advice.

Also, as morningcoffee says above, your credit file will be marked as “AP”, so if this issue is going to be more long term, you might as well take the plunge and deal with the problem correctly by getting debt advice from Stepchange and following it.