A THREE-month amnesty on credit card payments offered to clients in the wake of Hurricane Fabian was hailed a success by participating banks.

The relief programme, offered by Capital G, the Bank of Bermuda and the Bank of Butterfield, enabled credit card holders to defer payments until December, while those left jobless by the Category Three storm, received six-month breaks on loan and mortgage repayments.

The bank initiative was announced in conjunction with the Emergency Assistance Organisation (EAO), launched in the aftermath of Hurricane Fabian to provide residents in need with essential supplies and assistance.

Designed to mirror the Emergency Measures Organisation, the EAO was comprised of representatives from the banks, the unions, the Bermuda Hotel Association, the Chamber of Commerce, the construction industry, Government and the Opposition.

At Capital G, credit card holders numbered the scheme's largest body of participants, according to Cherie Whitter, senior vice-president of marketing.

"Less than one per cent of Capital G Bank mortgage customers applied for emergency financing, suggesting that most damage was covered by home insurance," she reported. "Customers affected by Fabian did, however, respond more readily to the Skip-A-Payment programme for Visa and personal Private Label credit cards."

The bank, she explained, offers two Visa products ? Visa Classic with a credit limit of $4,999, and Visa Prestige, a gold card equivalent. As with the Bank of Bermuda and the Bank of Butterfield, those customers were able to skip payment for the months of September, October and November in 2003.

"The participation rate over the three-month period for Visa Classic averaged 28.7 per cent, while the participation rate for Visa Prestige was 22.7 per cent and 15.2 per cent for the private label products. The emergency financing offer has now expired."

A smaller percentage of clients opted for the payment relief scheme at the Bank of Bermuda where the three-month relief expired on December 21. October saw five percent of the bank's customers with a credit card balance opt for payment deferral, although there was a two-and-a-half percent increase recorded the following month.

"The offer was introduced following Hurricane Fabian in order to give our card customers the opportunity to apply their cash to more urgent issues such as house repairs, replenishing spoiled food and supplies following the devastating affects of the disaster," said Wayne Pimentel, manager of the bank's card processing centre.

"We're pleased that we've been able to assist some customers by allowing them to defer their card payments for three months and thereby easing some financial burden suffered as a result of the hurricane."

The third participant, the Bank of Butterfield, regarded the programme as a success.

"The Bank of Butterfield offered the 'Skip a Pay' programme as part of an overall hurricane relief package following Hurricane Fabian," said a bank spokesperson. "This programme waived the minimum payment requirement for all credit card customers in good credit standing.

"It has now expired, as the December deadline has passed. The programme was a success and an important segment of the hurricane relief package offered to the bank's valued customers.

"Our customers appreciated the opportunity to skip a payment during what was a financially challenging time for many Bermuda residents."