Mbna arrangement and credit score

Njthom

Hi, looking for a bit of advice, I have 2 mbna credit cards, both of them are charging interest and I am unable to transfer my balance. I contacted them to find out options and they have said can freeze the interest for 6 months and I pay monthly, they then consolidate both cards to one loan and I pay monthly up to a maximum of 7 years to clear the balance. I asked the advisor if this would affect my credit rating and he said he doesn't think so but couldn't be sure, has anyone heard of this arrangement and knows the impact on credit file? I'm just weighing up the options. Many thanks ☺️ 

MorningcoffeeIV

Freezing interest will be an arrangement, which lenders will look negatively on.

Any change in your credit score doesn't matter.

molerat

Likely an AP marker will appear on your record which shows other organisations that you cannot keep up with your payments so is a big negative whilst it is current.