credit card charges

[osbor1ca]

my daughter no longer uses her card and wants to close the account, but the bank won't do it. she s on a low income and wants the interest charges frozen. how can she arrange this?

[bednobs]

i too (and everyone else i expect) would like my interest charges frozen, as it would mean saving a lot of money, but unfortunately we cant all have what we want. If she has already asked the cc company to freeze or lower interest and they have said no, then there is nothing else to be done. They wont close her account while she still owes money, so she'll have to pay it off! (like everyone else). Could she sell some of the things she bought with the card to help pay it? can she afford the minimum payment?
best tell her to cut the card up and just continue paying the account till it has been paid off

[KARL]

If at all possible she should obtain a loab to the value of the debt, pay off the card and close it and then continue paying off the loan. The interest rate would almost certainly be lower and some term loans are offered with fixed rate options.

[osbor1ca]

thanks for that, you have both said basically what I already thought, she just seemed to have some idea that the bank would freeze it. ...thanks again...