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Credit Card AIB

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  • 06-03-2010 6:40pm
    #1
    DULLAHAN2
    Registered Users Posts: 871 ✭✭✭


    A friend at work and myself were chattin about credit cards today, i was sayin how glad i was to pay off my credit card after 2 years of trying, he made a comment and before i knew it he was giving me his credit history, long story short i told him to ring aib and see if they would let him freeze his account for six months so he could get some money together in the credit union and get a loan off them in sep to pay off his credit card, interst rate is kilklin him he told me that he could be saving over 200 a month and that six months time he would be able to get enough money to pay off half his credit card.

    So gettin a loan to cover the other half from C.U would be a doddle i think

    Question Would he have much chance of gettin aib to freeze his credit card for six months to let him do this if he lets them know of his plan?


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    #2
    dudara
    Registered Users Posts: 33,518 ✭✭✭✭dudara


    Moved to Banking & Insurance & Pensions

    dudara


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    #3
    chris85
    Registered Users Posts: 4,502 ✭✭✭chris85


    DULLAHAN2 wrote: »
    A friend at work and myself were chattin about credit cards today, i was sayin how glad i was to pay off my credit card after 2 years of trying, he made a comment and before i knew it he was giving me his credit history, long story short i told him to ring aib and see if they would let him freeze his account for six months so he could get some money together in the credit union and get a loan off them in sep to pay off his credit card, interst rate is kilklin him he told me that he could be saving over 200 a month and that six months time he would be able to get enough money to pay off half his credit card.

    So gettin a loan to cover the other half from C.U would be a doddle i think

    Question Would he have much chance of gettin aib to freeze his credit card for six months to let him do this if he lets them know of his plan?

    the bank dont have to freeze the interest and from my experience i doubt they will unless he can show some proof of financial hardship and not just that he overstretched himself on the use of the CC.

    the banks make their money on the interest and at the moment they are losing money on credit cards overall according to a recent report so they may be pushed to make more money on them and hence may not freeze the interest


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