Sunday, May 26, 2024

A miracle with MAP credit card

by Scott Bilker
Scott Bilker Scott Bilker is the founder of and author of the best-selling books, Talk Your Way Out of Credit Card DebtCredit Card and Debt Management, and How to be more Credit Card and Debt Smart. Receive the 5-Year Loan Spreadsheet when you subscribe to his email newsletter.


Share this with your readers. I just cannot believe that the credit card company will work with me.

I have a Marathon Pet Credit Card (MAP). My balance is $1,093.92. I am self-employed and between customers right now. I just didn’t have the extra $118 to pay the card, so I did nothing. Cash wasn’t there. I avoided the MAP calls. Since I had to cut staff, I am the only one in the office, the only one to answer the phones.

A lady with a very nice and regular kind of Josephine voice called. She is with World Bank. I flat out and nicely told her that I could not pay the $488 they were demanding but I could pay $50 per month. She rolled out a program for me that will help me for the next 6 months. It may not be the best, but when the cash isn’t walking in the door, it works.

I was put in a six-month hardship program. The late fee is being removed. The interest is lowered to 2%. I am to pay $25 monthly, if I am able to pay more during the six months, I will come out ahead. She rolled back a late fee and another fee bringing my balance to $1,058. I won’t be able to use the card–I haven’t anyway.

I can make payments over the phone at no charge for this time period. After 6 months, things revert back to normal.

For me this is miraculous.

I asked her why more companies don’t do this. SHE TOLD ME; “You have to ask. Tell them that MAP put me on a hardship program, is charging 2% on the interest, eliminated a late fee, and is letting me pay $25 per month until I get back on my feet.

Scott, the breathing room was all I needed. This is doable. Just want you to share this….

OH, BTW….I realize that this is a blessing. I also know that I will snowball the card to bring down the debt. I don’t plan to just pay $25 per month only for December and January, though, it works.