What Credit One's Hardship Program Does

Credit One's hardship program is a temporary relief option offered by Credit One Bank to cardholders who are experiencing financial difficulty. If you hold a Credit One credit card and are struggling to make payments, you can contact the bank to discuss options like reduced interest rates, lower monthly payments, or a pause on collections activity while you stabilize your finances.

The program is not automatic — you have to call and request it. Credit One will review your situation and may offer you a modified payment plan based on what you tell them about your income and expenses. The goal is to help you avoid defaulting on the card while you work through a temporary hardship.

This is different from debt settlement or forgiveness. You are still responsible for the full balance, but the terms may become more manageable for a set period of time.

Key Takeaways

  • You must call Credit One directly to request hardship consideration — the bank will not offer it unprompted.
  • The program typically includes options like temporary rate reductions, lower monthly payments, or a pause on late fees and collections calls.
  • Credit One will ask about your income, expenses, and the reason for your hardship before deciding what to offer.
  • Any agreement you reach is temporary and usually lasts three to twelve months, after which your original terms resume.
  • Payments made under a hardship plan are still reported to credit bureaus, so your credit score may continue to be affected.

How to Contact Credit One About Hardship

Call Credit One Bank's customer service line at the number on the back of your card. Tell them you are experiencing financial hardship and would like to discuss your options. Have your account number ready and be prepared to explain your situation — job loss, medical emergency, reduced income, or other specific reason.

Credit One does not have a separate hardship department, so you will speak with a regular customer service representative. They will listen to your circumstances and either offer you options on the spot or transfer you to someone who handles hardship requests. If the first representative does not seem helpful, you can call back and try again.

There is no fee to discuss hardship options. Do not pay anyone to contact Credit One on your behalf or to "negotiate" with them — you can do this yourself at no cost.

What Credit One May Offer

Common options under a hardship plan include a temporary interest rate reduction (sometimes to 0% for a set period), a lower minimum monthly payment, a freeze on late fees, or a temporary pause on collection calls and letters. Credit One may also allow you to skip one or two payments without penalty, though the interest will usually continue to accrue.

The exact offer depends on your account history, how far behind you are (if at all), and what you tell them about your financial situation. If you are current on your payments but worried about falling behind, you may have more options than if you are already late. If you are significantly behind, Credit One may require you to make at least a partial payment before agreeing to any plan.

Any agreement is temporary. Most hardship plans last between three and twelve months. After that period ends, your original interest rate and payment terms return unless you reach a new agreement.

What Happens to Your Credit During Hardship

Entering a hardship program does not automatically damage your credit score, but it does not protect it either. If you are already behind on payments, that late payment history is already on your credit report. A hardship plan may prevent future late payments from being reported, but it does not erase past ones.

If you make all payments on time under the hardship plan, your credit will begin to recover once the plan ends and you return to normal payments. If you miss payments during the hardship period, those will be reported just as they would be otherwise.

Some creditors note a hardship plan on your credit report with a code like "consumer dispute" or "account in forbearance," which signals to other lenders that you were working with the bank on payment difficulties. This notation may affect your ability to open new credit during and shortly after the hardship period.

When a Hardship Plan May Not Be Enough

If your hardship is long-term or your debt is very large relative to your income, a temporary payment reduction may not solve the underlying problem. Once the hardship plan ends, you will owe the full balance at the original rate, and if your situation has not improved, you may fall behind again.

If you are carrying balances on multiple cards or have other debts, a hardship plan on one card does not address the others. You may need to contact those creditors separately, or you may want to explore whether a debt management plan through a nonprofit credit counselor could help you address all your debts at once.

If you cannot afford to pay even a reduced amount, or if your situation is unlikely to improve within the hardship period, talk to a nonprofit credit counselor before calling Credit One. They can help you understand whether hardship is the right move or whether other options might serve you better.

How to Prepare for the Call

Before you call, write down the following: your current monthly income (from all sources), your major monthly expenses (rent, utilities, food, insurance, other debt payments), the reason for your hardship, and how long you expect the hardship to last. You do not need exact figures, but having a rough picture of your budget will help you explain your situation clearly.

Also note your current Credit One balance, your minimum payment, and how many months (if any) you are behind. If you have already missed payments, know the dates. If you are current but worried about the future, say that too — Credit One sometimes works with people who are not yet behind.

Have your account number and a quiet place to talk. The call may take 15 to 30 minutes. If you are emotional about your situation, that is normal, but try to stay factual about your circumstances so the representative can understand what you need.

What to Do If Credit One Denies Hardship

If Credit One says no to a hardship plan, ask why. If the reason is that you are not behind enough or your account is too new, you may be able to call back later if your situation worsens. If the reason is that you have already used a hardship plan with them recently, you may have to wait until that plan expires before requesting another one.

If you are denied, you still have other options. You can try to pay what you can each month (even if it is less than the minimum), contact a nonprofit credit counselor to explore a debt management plan, or look into whether you are a candidate for debt settlement or consolidation. None of these will be as straightforward as a hardship plan, but they may help if Credit One will not work with you.

Do not ignore the debt or stop communicating with Credit One. The longer you go without paying, the more damage occurs to your credit, and the harder it becomes to recover.

Frequently Asked Questions

Will a hardship plan hurt my credit score?

A hardship plan itself does not hurt your score, but late payments leading up to the plan will. If the plan prevents future late payments, your score will begin to recover once you complete it and return to regular payments. If you miss payments during the hardship period, those will damage your score just as they would otherwise.

Can I use a hardship plan if I am current on my payments?

Yes. Some people call before they fall behind to explain a job loss or income reduction and ask for a lower payment to prevent future missed payments. Credit One is more likely to say yes in this situation than if you are already late. Be specific about why you need help and when you expect your situation to improve.

What if I cannot afford the payment even after hardship?

Call a nonprofit credit counselor (search for "credit counseling" in your area or call 211 for a referral). They can review all your debts and help you understand whether a debt management plan, consolidation, or other option might work better than a hardship plan alone. This service is usually free or low-cost.

How long does a hardship plan last?

Most Credit One hardship plans last three to twelve months. The exact length depends on what you and Credit One agree to. Once it ends, your original interest rate and payment terms return unless you negotiate a new plan before the old one expires.

Can I still use my Credit One card while on a hardship plan?

That depends on the terms of your specific plan. Some hardship agreements freeze your account so you cannot make new charges. Others allow you to keep using the card. Ask Credit One what the restrictions are before you agree to the plan.