Just want to share some good news and maybe give others some helpful information.

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Always something to bear in mind folks. My dad told me all the time just ask. Worst they can say is no. This company knew it would be better financially to just close the card and drop the interest in order to get more money than selling it off to a debt collector. Now I would count on that all the time but they are usually willing to work out something with you.


Interesting! I had almost the same balance on a Citi card and used to pay $130 in monthly interest charges alone. I remember at one point, after a bad car accident, I asked for relief, but I don’t think I ever called in. What stopped the cycle was just doing balance transfers from card to card. I would pay like a 3% transaction fee every single time I had to do a transfer, but my payments actually started making a difference.


Chase Bank did this for me many years ago… I started missing payments when my spouse became unemployed in 2008. Chase actually reached out to me and offered the same deal – close the card, 0% interest, 5 years of ACH payments, reported to credit bureaus as “paid as agreed.” 5 years later walking into a bank branch to write the last check payment felt SO GOOD.


Make sure you keep track of these payments and review the statements. I did a similar thing like 10 years ago but they set it up so a late fee would hit before my automatic monthly payment. It was supposed to be paid off in 3 years, but when I checked 2 years later the balance had barely moved. If I had caught that earlier things would have been much less expensive.


Long time ago I was in a situation where I was on 20% interest and I did a balance transfer to a new card with a promotional 0% interest on balance transfers for 18 months. It charged me like 3% initially but in the end it saved me sooo much money