I am so excited. I just received a letter from Chase regarding the first credit card I put on their BLP (Balance Liquidation Program).
Here's what the letter had to say:
We have good news for you! Your recent payments have qualified your credit card account for our Reage Program and it's no longer past due. As long long as you continue to pay the minimum due each month on your current balance, you will enjoy these benefits:
- No Late Fees;
- Updated credit record to reflect your account is in good standing; and
- No collection calls.
I have only made two payments under the program and Chase has already put my account as current. My others accounts with them should be following in this cards shoes within the next couple of weeks.
I have my accounts with Bank of America on their version of the program too with a couple of differences. After two payments Chase will show your account as current while Bank of America's similar program takes four payments.
Bank of America has been no where near as generous Chase has either. Bank of America did lower my interest rates, but not to zero percent like Chase did. It is what it is, but I am already feeling so much better that my debt is finally getting under control.
Chase's letter went on to say if my account becomes delinquent again, I may not be eligible to take advantage of the program for the next five years. Right now my financial situation allows me to make these payments without any difficulty and hope that never changes. Chase has given more than a fair deal.
If you are getting the same offers I recommend you call and get your accounts set up on the program. You have nothing to lose and good credit to gain.
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