Your credit card company might act like they’re concerned and all, but they’re not. For all we know, they could be crafting a scheme to get more money from you in the guise of “good will” and “trying to help.” So when you get a “skip-a-pay” offer from your credit card company, no matter how tempting, don’t fall for it. Just don’t.
They usually do this during holidays because it is more likely that you are spending so much on other things like gifts, foods, decors and such. And here comes the credit card company, like a benevolent Santa, giving you a “gift,” an offer that’s hard to resist especially during the holiday season. They will tell you that you can skip your payment for the month so you can free up some cash. But, please beware; the offer is equivalent to a high interest loan. Why? Because the interest continues to accrue on the balance. To get a full picture of this and to understand the scheme better, you can refer to the link below:
While this may seem like a generous gift from your creditor, it seems more like a lump of coal in the stocking to me. Rather than accepting the gift of increased debt, I think it makes more sense to consider debt negotiation as a means to reduce your credit card debt. Your goal must be to free yourself from debt, not to add another in the form of high interest.