What is Financial Hardship?
Financial Hardship is when you have difficulty meeting your financial commitments, such as paying off your credit card, mortgage or your utility bills. Financial Hardship can be incredibly stressful and negatively impacts all aspects of our lives including work and family.
The causes of financial hardship can be complex, but may include things like the loss of employment, decline in business revenue, illness or injury, relationship breakdown, natural disaster – or as we have seen recently, a global pandemic. Other causes of Financial Hardship include financial abuse and problem gambling.
If you are experiencing Financial Hardship and are unable to make your Card repayments, please contact the American Express Customer CARE team on 1300 660 562 (8am – 6:30pm AEST).
What is Financial Abuse?
Financial abuse is a form of family violence where one person uses money or a financial product or service to assume a position of power over another. For example:
- Preventing a person from accessing joint accounts or withholding money
- Making key financial decisions to the exclusion of another person
- Using a person’s credit cards or bank accounts without their consent or using coercion
- Forcing a person to take out a credit card or loan, or to act as guarantor
- Taking a loan or credit card out in another person’s name
- Using the threat of debt or bankruptcy to prevent a person from leaving a relationship
Financial abuse is more common than you think and can happen to anyone regardless of age, gender or social-economic status.
Financial Abuse is often accompanied by feelings of shame or embarrassment which means victims are reluctant to talk about their situation. Rest assured that if you need to talk to American Express about your circumstances, they will be dealt with sensitively and confidentially.
If you are experiencing Financial Abuse and are unable to make your Card repayments, please contact the American Express Customer CARE team on 1300 660 562 (8am – 6:30pm AEST).
In addition to calling us, you may also find this resource helpful:
1800RESPECT is funded by the Australian Government to provide support for people experiencing, or at risk of experiencing, domestic or family violence. They are a confidential service available 24 hours a day, seven days a week.
If you are in immediate danger, contact the Police on 000.
What is Problem Gambling?
Gambling addiction is a disease. Problem gambling is the inability to control the urge to gamble, typically resulting in a person spending more than they can afford which has a negative impact on that person’s life. Problem gamblers accumulate significant debts by borrowing ever more money to support their addiction.
If you are struggling with problem gambling and are unable to make your Card repayments, please contact the American Express Customer CARE team on 1300 660 562 (8am – 6:30pm AEST).
In addition to calling us, you may also find these resources helpful:
Need financial or money advice?
You can receive free independent advice from a Financial Counsellor by contacting the National Debt Helpline on 1800 007 007.