Freezing Credit Card Balance OR transfer it HELP

Hi

I was wondering if anyone could tell me, if it possible to freeze a credit card in Ireland, as i was looking for advice on paying off, 2 credit cards and came across a english website, that said to freeze the card so that the interest would also be frozen, while i pay off the balance. Is that possible? I just called 1 Credit card and they said they can't do it! So I don't know if they are just not willing to do it or does it apply to the Irish market.

I have 2 credit card 1 @ 7000 and 1 @ 4000 (both maxed) so the repayments and interest is killing me, would I be better to transfer at least the large balance to a 0% transfer balance, Who won be the best company to transfer to as the whole field is mind boggling!!!

I really need to pay off both cards ASAP as planning to buy a house by next year but saving at moment if out of the question, as it stands i could pay both off in about 7-8 months but I don't know if i'm paying an extra 100 + a month in interest!

Any advice to help this clueless girl??!!

Thanks a mill

Go here to the Money Advice & Budgeting Service for free advice !

http://www.mabs.ie

Personally,I'd tranfer it to a 0 % APR as soon as possible and keep transferring it from one company to another to take advantage of these zero % offers while trying to pay it off. It doesnt matter which company as long as theyll accept you.

Then go to the bank and explain their problem and try to get it refinanced to a loan with a lower interest rate. Try your credit union too.

You need to refinance it at a lower interest rate and discuss a repayment schedule with your bank. The longer you leave your head buried in the sand the worse it becomes.

And I'm not judging you but you need to fight back against the urge to spend on credit and change the root cause of the credit card debt which probably exists somewhere in your lifestyle and attitude to credit.
If you see something on sale for 30% you need to realise that putting it on your credit card means the 'real cost' of the item is actually more like 200% over the long term which means its not a bargain after all but actually significantly overpriced!!!

Thanks Sign

I know you are not trying to judge and i guess most peoples credit cards bills come from overspending but in my case i don't need Eddie Hobbs to do a job on my lifestyle, I quit work last year to care for my 2 mental ill brothers while my mum spent a few months in hospital critically ill, as i did receive benefits for this it didn't cover my bills. 80% of my debt is due to it period of time when i had the Credit cards already it was easier then applying for a loan when i wasn't working, But thankful now all is well & i have returned to work over the past month and am working a part-time at the weekends (as i have 4 months extra tax credits for this year it - make sense for a for bob extra for the short term). But i wish i could afford to splash out at the sales but i can't remember the last time i was in a clothes shop. And i guess it will be a while with buying a house next year. but i need to clear these Credit cards before even looking at mortgages.

I am looking at MABS website as we speak but my real questions is can i freeze the card or cards to reduce interest or which banks offer good deal that i don't get ripped off after the 6 month period on a transfer?

thanks a mill

[broken link removed] will give you 9 months interest free on balance transfers.

If you have not been making payments on existing cards, I don't know if many/any cc companies will be willing to take you on.

I'm not sure about the freezing of interest-MABS would be the best people to advise/negotiate on your behalf.

im no financial whizz by a long shot but look into getting out a LOW interest loan, maybe Cred Union??, and use that to pay off the higher interest cred cards.

Best of luck and hope this helps.

I'm beginning to think the longer I hang around this site the more I am sounding like Eddie Hobbs

Floating said:

Thanks Sign

... but in my case i don't need Eddie Hobbs to do a job on my lifestyle,

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Sorry to hear about your troubles. Just remember not to keep them to yourself as the more vocal you are with creditors the more help you will receive in working out an affordable way to pay it off. Good luck!