Maria Adams, Credit Cards Moderator
@m_adams
The Chase credit card hardship program temporarily reduces monthly credit card payments in the event of unforeseen financial setbacks. Chase might waive late fees, reduce your interest rate, and/or put you on a payment plan. However, you must prove a legitimate financial hardship, such as serious illness or injury, death in the family, unemployment, divorce, or natural disaster, for example.
How to Enroll in the Chase Credit Card Hardship Program
- If your financial situation qualifies as a hardship, contact Chase by calling (800) 432-3117 or sending them a secure message through your online account or mobile app. Then, ask them about enrolling in the program.
- Chase and other issuers don’t advertise these programs, so it will require some effort on your part to find info on it.
- With Chase, you can begin by calling the number you see on the back of your credit card. There is no specific phone number, website or department for the hardship program, so you may have to speak to several representatives before you actually get any information on the program.
- When you speak to a representative, they will ask if your situation warrants enrollment in the program and how much you can reasonably afford to pay each month.
- Make sure you’ve done your calculations before you call. Chase may not accept your initial proposal, so be prepared to negotiate.
- Don’t propose an amount that you’re not sure you’ll be able to pay for the duration of the agreement.
How to Avoid Hurting Your Credit
Once you've reached a new payment plan agreement, you'll need to stick with it. Chase has the right to terminate the agreement if you don't meet your obligations. Chase reports your payment history under the program, good or bad, to the major credit bureaus. So, if you're dropped from the program, it will show up on your credit report.
In addition, keep in mind that if you enroll in the Chase hardship program, your credit card will be suspended. This means you won't be able to make any transactions on the card until you pay off your existing balance.
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