Forum: OFFSHORE FORUM - Online Sportsbetting - Mentioned in NY TIMES, WSJ, USA TODAY, & DRF. The place to discuss all kinds of sports and gambling related subjects.

Thread: Some banks won’t press on credit card payments for now

  1. #1 Some banks won’t press on credit card payments for now 
    RX Local
    Join Date
    Sep 2006
    Location
    East Coast
    Posts
    17,499
    If you can’t pay your credit card because you lost your job owing to the coronavirus pandemic, your card company might help.

    Depending on the card, the issuer might let you skip a month, waive fees or extend your credit line.

    Banks, the big credit card issuers, are “working to identify and assist affected clients and provide the right support to address their unique personal needs,” said a spokeswoman for the American Bankers Association.

    Indeed, Apple Card is permitting cardholders to skip recent payments without incurring interest.

    “It allowed cardholders to pass on both March and April. This is the most generous relief program in the industry,” according to Ted Rossman, a card industry analyst with CreditCards.com.

    “The card industry is trying to be empathetic,” said Bill Hardekopf, the founder of LowCards.com. “The industry is trying to help, but also avoid another 2008 crisis,” he added. That’s when millions of cardholders defaulted.

    Bank of America “is encouraging customers affected by the coronavirus who need financial help to call the bank’s dedicated client-care number at the phone number listed on their credit or debit card or statement,” the company said.

    Discover Card “is extending relief to qualified customers who are experiencing financial difficulty caused by the spread of the coronavirus,” the company said. “Discover customers may receive assistance that can include support related to payment timing, fees and late payments.”

    Capital One, PNC, Wells Fargo and Chase have said they will work with cardholders “on a case-by-case basis.”

    Some banks are also allowing clients to temporarily increase credit limits.

    “Speak up and tell the card company if you are having a problem,” Hardekopf advises. “And be sure to get any relief offers in writing. A promise of someone on an 800 line isn’t the same as having it in writing.”

    Putting it in writing, Hardekopf added, is important because payment problems “could irreparably damage” a cardholder’s credit ratings.



    https://www.google.com/amp/s/nypost....s-for-now/amp/
    Reply With Quote  
     

  2. #2  
    RX Wizard
    Join Date
    Sep 2004
    Location
    Michigan
    Posts
    12,577
    This is just terrible news,it allows more freeloaders ,more liberalism,more free money,sick
    Reply With Quote  
     

  3. #3  
    Rx God Doug's Avatar
    Join Date
    Nov 2002
    Location
    Religion is a crutch for the weak-minded...Jesse Ventura
    Posts
    39,215
    makes sense to give peeps some time to re-group, IMO

    the alternative is people get bankruptured and parties owed the $, get nothing

    you have to do what makes sense !

    people do want to save their credit history
    Reply With Quote  
     

  4. #4  
    U will believe what the media tells U you believe rolltide's Avatar
    Join Date
    Sep 2004
    Location
    Pittsburgh, PA
    Posts
    27,989
    no biggee, the dafinch's and bengals34's of the world had no intention of paying the bills anyway
    Think of how stupid the average person is, and realize half of them are stupider than that
    Reply With Quote  
     

  5. #5  
    Homie Don't Play That ~Falco~'s Avatar
    Join Date
    Sep 2004
    Location
    Big Top
    Posts
    1,790
    "If you can’t pay your credit card because you lost your job owing to the coronavirus pandemic, your card company might help.

    Depending on the card, the issuer might let you skip a month, waive fees or extend your credit line."

    skip a month but interest grows?? waive fees... good Extend your credit line???? so you can keep borrowing money you cant pay back? Sneaky bankers
    Reply With Quote  
     

  6. #6  
    RX Junior
    Join Date
    Mar 2011
    Location
    central ma
    Posts
    433
    just default. nothing will come of it. you lose your credit for 7 years but if you owe more than 20k it is worth it. if you do default under no circumstances pay a collection agency. they positively can do nothing and will end up selling it to a debt collection attorney who may or may not decide to pursue it. they do not like to pay the 75.00 filing fee in small claims court. never make a deal with a collection agency or a lawyer to repay a portion of the debt thinking that will settle it. sure, with them it may be settled but they will sell the unpaid portion to someone else.
    Reply With Quote  
     

Posting Permissions
  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •