Disaster Relief FAQ

Does Card Assets offer relief for customers being temporarily inhibited from making their monthly payments?

Yes. The Card Assets Disaster Relief Program offers relief to customers adversely affected by a Natural disaster by temporarily reducing or deferring their monthly payment, reversing fees and reducing interest.

How does the program work?

The program removes fees for the current billing cycle and the next two consecutive billing cycles and allows customers to defer up to two consecutive monthly payments. 

Which fees are eligible to be reversed?

All fees except NSF fees and Foreign Transaction Fees. Even Cash advance and phone payment fees will be waived. 

How many payments can a customer defer?

Two. The deferred payments must be consecutive. 

What is the interest rate during the Disaster relief program?

0.00%. Once a customer account is set up on the Disaster Relief pricing strategy the customer will not be charged for a period of up to 90 days. The agent reverses the interest in the current billing cycle and the pricing strategy will not charge interest in the next two billing cycles. 

Are the customers going to be notified?

No, customers will be offered the plan only upon request. However, the agent bank were notified via our newsletter. 

Which customers are eligible?

All Customer’s affected are eligible.

Are Foreign Customers eligible?

Yes, all customers are eligible including our Canadian and other international customers.

Are delinquent customers eligible?

Yes. Delinquent customers are eligible.

How long does the program last?

For a period of 90 days – Two months with the payment deferred and an additional month without fees and interest.

What are the steps of the agent speaking with the customer?

After the Cardholders request enrollment in the Plan, the agent reverses the fees charged in the current billing and creates a new item in the issue tracker.