Article: Avoid Payment Holidays When Offered
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Avoid Payment Holidays When Offered
Once you?ve been paying off a credit card for a while you might be offered a ?payment holiday.' You?ll get a letter stating that since the company knows it?s difficult for some families around Christmas they?re offering you a month off from paying as a ?special present.'
Why Would They Do That?
Offers of payment holidays typically have a very high acceptance rate. People think it?s great that they can take a month off from the stress of paying back debt. What they don?t usually realize is that these ?holidays? aren?t a present at all. They?re a great money-spinner for the credit card company. For the company it?s a win-win situation. They get to make big profits just by making their poorer customers happy.
How Can Letting Me Off Paying Earn Them...
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