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Should I freeze my credit card interest?

Whether you’re only making your minimum repayment, or have actually fallen behind with your payments – known as being ‘in arrears’ – freezing credit card interest and charges prevents your debt growing. And it can help you clear what you owe more quickly. Can I freeze the interest on my credit card?

What is a credit freeze?

A credit freeze, or security freeze, keeps the sensitive data in your credit files from being accessed without your consent. A credit freeze is one major way to help prevent identity theft and fraud, even if a criminal has key information such as your birthdate and Social Security number. Freezing your credit is free and won't harm your credit.

How do I ask my creditors to freeze interest?

You can ask your creditors to freeze interest on debt repayments. By freezing the interest on payments, you can reduce your monthly expenses, reduce your overall debt and get away from financial hardship. Our free letter template is proving an effective way to ask creditors to freeze interest. Do they have to oblige?

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