FAQs

Who is Credit Card Savers (CCS)?

Credit Card Savers can best be described as a “Cash-Flow-Enhancement-Servicer”. Our primary mission is to help our customers improve their cash flow by utilizing our Specialized-Payment-Processing-System (SPPS). In addition to improving cash flow our system also redistributes debt payments in such a manner that results in increased “principal payments” towards specifically targeted debt.

 

How does the Specialized-Payment-Processing-System (SPPS) work?

Let’s assume a customer has four credit cards totaling $10,000 of debt with payments of $120, $100, $65, $35 and interest rates of 24% on all cards. The customer in this example can expect approximately $120 of the $320 in payments to be applied towards the total “principal balance” of $10,000 and the remaining $200 allocated to “interest” during a typical billing cycle. Under normally circumstances this customer would need to come up with $320 to pay all of the credit cards on time. This customer could instead enroll in one cycle of our SPPS where we would only require the “Single-Payment” of $150 to get all the credit cards paid on time with all minimum payments satisfied and therefore freeing up $170 of cash flow.  This process is accomplished by paying the credit card with the highest payment amount ($120) with the initial “Single-Payment” of $150. After the $120 payment is satisfied, we simply withdraw $130 from this credit card and use it to pay the next highest card in the sequence ($100). This process continues until the final credit card has been paid. The Specialized-Payment-Processing-System is simply a series of credits immediately followed by debits. Any customer could accomplish this process without our services by potentially taking advantage of cash advances. Instead of using cash advances we simply invoice the customer and collect the proceeds from the invoice and then utilize some type of bill-pay mechanism to pay the next card in the sequence. What we do is not “Magic” the process simply takes advantage of revolving credit.

 

The SPPS can also be used to redistribute debt payments so that a much larger percentage of the required minimum payments can be targeted towards one credit card. The Customer in the above example could choose to make the full $320 payment to the first credit card in the sequence. By the time the final card in the sequence is paid, as much as $250 could be paid towards its principal balance instead of $120 paid across all credit cards by making the payments conventionally.

 

What are the advantages of utilizing the SPPS:

  • Frees up cash flow by reducing out-of-pocket monthly expenses by as much as 60%

  • Redistributes payments so that more “principal” can be paid down by targeting one debt at a time

  • Completely pays off debt one credit card at a time

  • Eliminates late and over-the-limit fees

  • Generates cash back rewards or points because credit cards are constantly being charged via invoices

  • Improves credit score because debt can be paid down faster and on time

  • Can be used to pay down non-revolving debt such as automobile loans or other types of monthly expenses like insurance premiums

  • Reduces the stress of paying bills because CCS takes over paying the debts or expenses enrolled in the program

 

What kind of company is Credit Card Savers?

Credit Card Savers is a “Cash-Flow-Enhancement-Servicer”. We help our customers pay off debt more efficiently all while improving their overall cash flow. We charge a fee for each SPPS-Cycle in which the customer participates. The fee is based upon the number of debts or expenses that are enrolled. Credit Card Savers is not:

  • A Credit Repair Company

  • A Credit Counseling Agency

  • A Debt Relief or Debt Settlement Company

  • A Lending Organization that may provide debt consolidation

  • A Debt Management Company

  • A Bill-Payment Company

How does CCS actually pay my credit card bills?

All transactions with CCS are accomplished via invoicing and some type of bill payment mechanism. We do not hold any of our customer’s funds in escrow or other trust accounts. Although CCS cannot be specifically categorized as any of the above mentioned companies we nonetheless incorporate many of the attributes of these organizations. The execution of our processes is very similar to companies like Melio, Plastiq or Bill.com, all of which are very reputable organizations. These companies are bill-payment-service-providers that allow customers to use credit cards to pay bills for companies that normally only accept cash, checks or ACH as methods of payments. Although bill-payment is a part of our process it is not the final result of what we are accomplishing for our customers.

 

Is there an up-front fee for the services?

At CCS our goal is to help customers pay their debts and expenses more efficiently while freeing up cash flow which often results in improved credit scores. We work with our Customer’s existing accounts without making any changes to payments or terms. Our process begins with a no-cost-no-obligation consultation and analysis to determine exactly if a prospect can benefit from our services. Most Credit Counseling Agencies can produce similar results but require their customers to sign agreements lasting up to five years, disallow any usage of credit cards enrolled in their programs and require their customers to make monthly payments to trust accounts controlled by the agencies. At CCS Customers choose when they participate in our program, they can enroll for one cycle or as many cycles as desired with no restrictions. After each cycle of the SPPS is completed our Customers can resume the use of their credit cards.