No Interest, No Late Fee Repayments
Date: Mon, 01/05/2009 - 09:02
Hello Everyone,
I was just offered a No Interest, No Late Fee repayment plan from GE Money for 40 months for a credit card issued through them. I'm now a couple of months late, and this is the first offer of this type I've received. I asked HSBC if they had anything similar, but they gave me a debt management number to call instead. My gut feeling is that whoever this number is would favor HSBC in any kind of plan vs. me, so I haven't called the number yet. Would CC companies make this kind of offer with a reduced principal amount? I'm guessing not, but who knows. I would like to pay back as much as possible - no one put a gun to my head to use these things after all - but my total monthly budget would be less than 1/2 of what my minimums are today.
Thanks,
Kevin
I was just offered a No Interest, No Late Fee repayment plan from GE Money for 40 months for a credit card issued through them. I'm now a couple of months late, and this is the first offer of this type I've received. I asked HSBC if they had anything similar, but they gave me a debt management number to call instead. My gut feeling is that whoever this number is would favor HSBC in any kind of plan vs. me, so I haven't called the number yet. Would CC companies make this kind of offer with a reduced principal amount? I'm guessing not, but who knows. I would like to pay back as much as possible - no one put a gun to my head to use these things after all - but my total monthly budget would be less than 1/2 of what my minimums are today.
Thanks,
Kevin
It is known as balance transfer credit card. But read the agreem
It is known as balance transfer credit card. But read the agreement before opting for one.
