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American Express financial relief

Jenniferjoy175
New Visitor

American Express financial relief

Checked into the Amex Financial relief.....has anyone taken advantage.if you want to call it that

 

Online chatted....5.99 apr..with fixed payments..for a year.and possibly will be reported to Credit bureau and only available credit will be your next payment amount...

 

But they can't be sure until you agree...you will find out 14 days later...

 

So lower April for a year and your credit is screwed for 7? Possibly

2 REPLIES 2
Loquat
Moderator

Re: American Express financial relief

If I were in a position to be considering financial relief then my credit score would be the last thing I'd worry about. Staying afloat would be my concern and doing what I can to increase or change my financial situation.
Message 2 of 3
Remedios
Moderator

Re: American Express financial relief


@Jenniferjoy175 wrote:

Checked into the Amex Financial relief.....has anyone taken advantage.if you want to call it that

 

Online chatted....5.99 apr..with fixed payments..for a year.and possibly will be reported to Credit bureau and only available credit will be your next payment amount...

 

But they can't be sure until you agree...you will find out 14 days later...

 

So lower April for a year and your credit is screwed for 7? Possibly


If you cannot pay the balance off without financial relief,  that's a gift. 

I wouldn't look at at it as "credit scre**d for 7 years in exchange for lower APR", since without lowering APR and sticking with payment plan, it sure will be. 

 

It shouldn't come as a surprise that you cannot use card for additional purchases, whole point of the plan is to reduce the balance owed, not keep status quo or have it go up again. 

 

If you have other cards that offer BT, you can go that route, or if you are a member of credit union, loan might be possible depending on how rest of your CR looks if you are uncomfortable with this. 

 

 

 

 

Undead Danny Trejo looks strangely like dead Danny Trejo, who looks exactly like alive Danny Trejo. Thanks, Netflix!
Message 3 of 3
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