Credit Card Issuers Assist Their Cardholders

Credit card giants Citibank, Capital One, Discover Card, Visa and MaterCard have launched a new campaign that is designed to help their cardholders avoid defaulting on their credit card debt by offering to negotiate with them.

As the recession in the United States, and indeed the world, worsens, many people are finding themselves out of work and unable to pay their bills. Credit card defaults (people that are unwilling or unable to pay their bills) is expected to reach double digits by the end of 2009.

With that in mind, the aforementioned credit card issuers have started a program called “Help With My Credit“. The program consists of a web site and a toll free number that credit card account holders carrying large balances that they are having a hard time paying for can easily contact their credit card company to negotiate lower fees or extended payment plans.

It is of course, in the best interest of the credit card companies that they do whatever it takes to assist their customers in paying their balances and avoiding default. As the program’s spokesman Joe Ganley stated, “We want to make sure people understand the assistance and options that are available.”

When calling the toll free number the cardholder will be immediately transferred to a representative from their credit card company that is trained to assist them. The cardholder will then have the opportunity to negotiate terms that they are agreeable to both parties.

The web site and toll free phone number is:


Web address:

Phone number: 866-941-1030


Of course, cardholders have always been able to contact their respective credit card company and discuss the terms of their account. There is nothing new about that. But this program streamlines that process and makes it easier for the cardholder.

In cases where the cardholder has high debt on multiple cards that they are having a hard time paying for they will be referred to a credit counseling agency in their area.

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