r3mix3r

Anyone see these type of things on there credit cards?

I have 2 cards with Bank of America and one says:

Take a payment holiday. This months payment is optional. Learn more about payment holiday.

another one says:

Reduced payment offer: Pay only $15.00 by 02/29/2008 instead of $15.00. Learn more about reduced payment

doopstr

The first one is an old trick they learned from Discover. All it does it put you in more debt.

r3mix3r

LOL ya, I was thinking the same thing. Alot of people must be like "Wow, they are so nice" but in reality there just $%$#ing you more.

DelawareCLS

Very much a perception issue - one side half-full, one side half-empty.

Half-full: Remember, not everyone is in a great financial position after the holidays, and sometimes earning a payment holiday is a needed budgeting tool when things are tight. That doesn't mean the customer is a deadbeat, or bad credit, just helps to get some breathing room in a month in which bills are sure to be higher than average.

Half-empty: Your folks who either pay-in-full each month, or those who've been "trapped" before. If you pay-in-full each month, there's little risk to the issuer and why not encourage at least a little revolve out of these folks? This was much nicer when finance charges were calculated on 2-cycle ADB, but I think this practice is dead for the most part. For those who've been tricked before, once bitten, twice shy.

Card companies are just giving you options. If you get in over your head, it's really just YOU that is $%$#ing yourself.