Has anyone ever heard of requesting an account to be frozen while they pay down a large balance? A friend of mine said he thought his brother did something similar but wasn't sure of the specifics. I've got about 3 cards that the monthly balances keep climbing on because I can't make the minimums. Any advice? Thanks in advance...
If your talking about the creditor freezing the account so as not to incur interest charges, the chances of them going for that area bout nill..This is the way they make their profits, and they don't care if it wrecks you in the interim. Freezing can also refer to the ability to use the account, preventing someone from using the account until the balance is paid. I don't know if this is actually done or not. Usually if you are having difficulties the account will be closed by the creditor anyways.
Yes, you can "freeze" the account without actually closing it. However, your available credit will be marked "0" on your CR, which may have a temporary negative impact on your score.
