Sweat deal. One may contemplate running up the balance (I have one from Citicards), not pay the bill for few months, call the 1800 number and get a 47% of the balance.
The math is not as straightforward. After the few months unpaid, your balance is accumulated with huge late fee, finance fee and your APR may be jacked up to 30% or so.
So in the end, you are not getting the 47% discount off the balance but rather a smaller number.