Maria Adams, Credit Cards Moderator
@m_adams
Everyone facing financial hardships could be eligible for the Capital One hardship program, according to customer service. However, Capital One’s hardship program isn’t the same for all customers. The exact terms will be based on your individual situation.
Depending on how much you owe, the reason for your troubles, and how long you anticipate them to last, Capital One can help design a solution for you.
Capital One Card Hardship Program Overview
The Capital One hardship program is a temporary adjustment to a Capital One credit card’s terms to help out customers with financial troubles. This could include lowered interest rates, settlement for a portion of the total debt, or the ability to temporarily not make payments.
So, if you are having financial hardship, it is a good idea to call Capital One and ask about your options. Abiding by the terms of a hardship program will keep your account in good standing, even if you’re not making normal payments.
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Keyaira Sutton, WalletHub Analyst
@keykey
There are a few important steps to take advantage of a Capital One hardship program. First, make sure you’re ready to talk about why you’re having financial hardship and why you deserve help. Know what you owe, what kind of assistance you’d like and how long you think you need it for.
Then, call Capital One customer service at (800) 227-4825, enter your full 16-digit card number, and explain your situation to the representative once they pick up. The representative may give you more than possible route to take. Discuss them and choose the one you think is best. Lastly, ask for a written version of the hardship program’s terms by mail.
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