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Will credit card company’s reduce interest

(8 Posts)
Sunnydays999 Fri 06-Dec-19 13:38:59

And how much would it affect my credit rating ? Asking as we have a fairly big debt with lots of interest but a ok income . I don’t think we need a Iva but are struggling. Does anyone know if this is possible. Interest is killing us

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TDL2016 Fri 06-Dec-19 17:32:18

The only people who can answer this are your lenders. You need to ring them and discuss it. Debt inevitably affects your credit rating, but unless you start missing payments, I can’t see why a change in interest rate would affect it.

Sunnydays999 Fri 06-Dec-19 19:33:35

Thanks for the reply . Yes we have been making the payments but Don’t want to

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Sunnydays999 Fri 06-Dec-19 19:33:58

Sorry posted to quick ! Our credit rating anymore

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ScabbyBabby Fri 06-Dec-19 19:35:54

Can you not switch to interest free?

Sunnydays999 Fri 06-Dec-19 19:37:49

We have switched part to a interest free but there is still a big lump that’s attracting a lot of interest on another card

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PleasantVille Fri 06-Dec-19 19:39:57

I agree that you can only find out from your lender. Does a credit report include the interest rate on a specific card?

You know there's no such thing as a standard credit rating, if you apply for credit the lender will make its own decision.

Sunnydays999 Fri 06-Dec-19 19:44:14

No they don’t on our reports but I wondered if we even asked about a reduction on interest if they would hold it against us , like a black mark .

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