Write a letter to the credit card company requesting they freeze the interest rate so you may pay off the balance. Include the creditor’s name, address, phone number, account number, your name and address. Ask that they reply via mail with a freeze approval and payment instructions.

Does freezing a credit card damage it?

A credit freeze won’t have any impact on your credit score, nor will it impact your current credit accounts. While a credit freeze won’t affect your credit score in any way, it will impact your ability to qualify for a loan or credit card unless you thaw your credit before submitting your application.

How to get credit card company to freeze interest?

Write a letter requesting an interest freeze. Write a letter to the credit card company requesting they freeze the interest rate so you may pay off the balance. Include the creditor’s name, address, phone number, account number, your name and address. Also include the name of the individual you spoke with and request reconsideration of the freeze.

What happens if I Ask my creditor to freeze interest?

When your creditor freezes your interest and charges for you, it means that they allow you to pay your debts without worrying about the high interests that you have to pay along. So, for a particular period of time, all interests on your debts cease and the only payments you make are used to get rid of your debts.

Is there a way to stop credit card interest?

For many people a solution like an Individual Voluntary Arrangement or a Debt Management Plan will provide a solution to their financial problems. However for an increasing number of people, who have very little disposable income, such plans are unsustainable.

Can you freeze interest and charges in the UK?

The advice on this page applies to anyone with personal debts taken out in the UK. Whether you’re in arrears or struggling to keep on top of your regular payments, asking your creditors to freeze interest and charges can help you clear your debts and get back on track quicker.