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My friend is struggling to pay her Amex Blue Cash Preffered bill it is currently at about 5,000 shes unable to make her minimum payments due to the fact shes getting extremly reduced hours at work just last week she did 18 hrs at 9.64 per hour she needs her card but dont know what to do. American Express told her theres nothing they can do either she pays it or she deals with the intrest only thing they can do for her is take her card away untill she pays the balance down to 0 or they bring down her APR to 9.99 from 16.99. I honestly dont know what to tell her or what options she has American Express very rudly told her thats her only 2 options. Is It ?
My recommendation is requesting a hardship courtesy, which may have been the 9.99% APR offer? Not sure.
Generally creditors are willing to work with you during tough times, she can must call again and simply state she is facing temporary reduced income, and ask for help.
Did she mention that? Or simply ask for a lower rate?
EDIT: She can use key words "hardship program" to make her point clear that she needs assistance.
TU: 818 EX: 809 EQ: 801
@Anonymous wrote:
Go to amscot
For what?
TU: 818 EX: 809 EQ: 801
@ksantangelo23 wrote:
@Anonymous wrote:
Go to amscotFor what?
It's a dumb idea. They're a predatory loan company
@Anonymous wrote:
@ksantangelo23 wrote:
@Anonymous wrote:
Go to amscotFor what?
It's a dumb idea. They're a predatory loan company
Yeah, fully aware. OP disregard using cash advances.
TU: 818 EX: 809 EQ: 801
Sorry to hear about the rough situation. :\ I agree with the other posters in trying to get into a hardship program and see if Amex is willing to work with her. Have her pay what she can and maybe she could look for another job? I had a retail job that once cut me down to 12 hours for one week...I was lucky to have savings and a supportive boyfriend to help me out but it can be rough.
@YoungJay18 wrote:My friend is struggling to pay her Amex Blue Cash Preffered bill it is currently at about 5,000 shes unable to make her minimum payments due to the fact shes getting extremly reduced hours at work just last week she did 18 hrs at 9.64 per hour she needs her card but dont know what to do. American Express told her theres nothing they can do either she pays it or she deals with the intrest only thing they can do for her is take her card away untill she pays the balance down to 0 or they bring down her APR to 9.99 from 16.99. I honestly dont know what to tell her or what options she has American Express very rudly told her thats her only 2 options. Is It ?
Sorry to hear... Have a call Amex to see if they can work with her. If the CSRs are not helping then she should depend to speak with a supervisor. Tough situation but hope it gets better for her soon.....
This is very tough situation to say the least. 18 hours. Surely she is s looking for another job. I hope so. Time to lean on friends at least for minimum until things improve. What are friends for? I would give it to my friend for at least 3 months. Until their situation improved. To save their credit profile.
@YoungJay18 wrote:My friend is struggling to pay her Amex Blue Cash Preffered bill it is currently at about 5,000 shes unable to make her minimum payments due to the fact shes getting extremly reduced hours at work just last week she did 18 hrs at 9.64 per hour she needs her card but dont know what to do. American Express told her theres nothing they can do either she pays it or she deals with the intrest only thing they can do for her is take her card away untill she pays the balance down to 0 or they bring down her APR to 9.99 from 16.99. I honestly dont know what to tell her or what options she has American Express very rudly told her thats her only 2 options. Is It ?
Right now, she needs to see if she can get a loan to make the minimum payments. The loan will probably have to come from her friends or relatives.
But may I ask how her bill came to be $5000? If she is only making $9.64 an hour, even working full time can't justify a $5K credit card bill. Is this from some sort of emergency/medical expense? I don't know your friend's situation, but IF getting to a $5000 bill was at all preventable then she needs to start changing some habits right now as well.