What Credit One's Hardship Program Does
Credit One Bank offers a hardship program for cardholders who are struggling to make their monthly payments due to temporary financial difficulty. The program lets you request a modified payment plan, a temporary interest rate reduction, or both — without closing your account or taking an when ready hit to your credit report for missing a payment.
The program is designed for people in a specific situation: you have the ability to pay something, but your current minimum payment is genuinely unaffordable right now. It is not a debt forgiveness program. You still owe the full balance, but the terms change temporarily to match what you can actually pay.
Credit One is a secured credit card issuer, meaning most of their cardholders are people rebuilding credit. The hardship program exists because Credit One knows that a temporary setback — job loss, medical emergency, unexpected expense — can turn into a default that damages your credit further if the cardholder has no other option.
Key Takeaways
- You contact Credit One directly by phone to request hardship terms; there is no online form or third-party process process.
- The program typically lasts three to twelve months, after which your regular payment terms resume unless you request an extension.
- Entering the program does not automatically report you as delinquent, but missing payments before you call will still damage your credit score.
- You must explain your hardship and show that you cannot afford your current minimum payment — the bank will ask about your income and expenses.
- Interest may continue to accrue on your balance even under a hardship plan, so the total amount you owe may grow while you are paying less each month.
How to Request a Hardship Plan
Call Credit One's customer service line on the back of your card. Tell them you are experiencing financial hardship and cannot afford your current minimum payment. They will transfer you to a specialist who handles these requests — you do not need to explore in advance or fill out a form first.
Be ready to describe what happened: a job loss, medical bills, a reduction in hours, or another specific event that changed your ability to pay. The bank will ask about your current monthly income and your essential expenses (rent, utilities, food, insurance). They use this information to figure out what payment you can actually afford.
Have your account number ready and be honest about your situation. Credit One's goal at this point is to keep you paying rather than watch the account go to collections. If you can show a real hardship and a realistic ability to pay something, they have financial incentive to work with you.
What Terms You Might Receive
Credit One typically offers one or more of these modifications: a lower minimum payment (sometimes 1 to 2 percent of your balance instead of the standard 2 to 3 percent), a temporary reduction in your interest rate (often 2 to 5 percentage points lower than your current APR), or a combination of both.
The exact terms depend on your account history, how long you have been a cardholder, and how much you currently owe. A cardholder with a clean payment history before the hardship will usually receive better terms than someone who was already behind. The bank will tell you the specific payment amount and interest rate for your plan before you agree to it.
Ask whether interest will continue to accrue during the hardship period. Most hardship plans do not stop interest entirely — they reduce it or keep it at your current rate. This means your balance may still grow slightly each month even as you pay down principal, especially if your new payment is very low.
How Long the Program Lasts
Hardship plans are temporary. Credit One typically sets them for three, six, nine, or twelve months. At the end of that period, your account reverts to standard terms unless you request another hardship plan or negotiate a different arrangement.
If your situation has improved by the time your plan ends, you return to your regular minimum payment and interest rate. If you are still struggling, you can call back and request an extension or a new plan. There is no automatic limit on how many times you can request hardship terms, but each request requires a new conversation with the bank and a new explanation of your circumstances.
Mark your calendar for the month before your plan ends so you know what to expect. If you do not call to request an extension and you cannot afford the regular payment, you will fall behind again — and this time the bank may be less willing to negotiate.
What Happens to Your Credit Score
Entering a hardship program itself does not automatically report you as delinquent to the credit bureaus. However, if you missed payments before you called, those missed payments are already on your credit report and will damage your score.
The key is to call before you miss a payment. If you call when you are current but worried about the next payment, the hardship plan protects your payment history going forward. If you call after you have already missed one or more payments, those lates stay on your report regardless of the hardship plan.
While you are on the hardship plan and making the agreed-upon payments on time, you are building positive payment history. This helps your score recover from earlier damage, but slowly. A hardship plan is not a credit repair tool — it is a way to stop your score from falling further while you get back on your feet.
Alternatives If Hardship Terms Are Not Enough
If Credit One's hardship program does not lower your payment enough, or if you need help with multiple debts, you have other options. A nonprofit credit counselor can review your full financial picture and help you understand whether a debt management plan, debt consolidation, or another strategy makes sense for your situation.
The National Foundation for Credit Counseling (NFCC) and the Financial Counseling Association of America (FCAA) both maintain directories of accredited counselors who offer free or low-cost consultations. They can tell you whether a hardship plan is your best move or whether you should explore other paths.
If you are behind on multiple cards or loans and the hardship program is not solving the problem, a credit counselor can also help you prioritize which debts to address first and whether you have options like a debt management plan that covers multiple creditors at once.
What to Do If Your Request Is Denied
Credit One can decline a hardship request if they believe you have the ability to pay your current minimum. This sometimes happens if your income is above a certain threshold or if you have been a cardholder for only a short time.
If your request is denied, ask the representative why. If the reason is that your income is too high, ask whether a lower payment plan is possible if you can document other obligations (medical debt, child support, elder care costs). If the reason is account age, ask when you would be may be able to access to reapply.
You can also request to speak with a supervisor or manager if you believe the decision was made in error. Keep notes of the date, time, and name of the representative you spoke with, and what they told you. If you call back later, you can reference this conversation.
Frequently Asked Questions
Will the hardship program close my Credit One card?
No. The hardship program keeps your account open and active. Closing the account would actually hurt your credit score more because it reduces your available credit and changes your credit mix. Credit One wants you to keep the card open and keep paying.
Can I use my card while I am on a hardship plan?
That depends on your specific agreement with Credit One. Some hardship plans freeze the card so you cannot make new charges, while others allow you to continue using it. Ask the representative explicitly whether you can charge new purchases during your hardship period.
What if I cannot make the hardship payment?
Call Credit One when ready and explain what happened. Do not wait until you are 30 days late. The bank may be willing to adjust your plan again or work out a different arrangement if you communicate before you miss a payment. Missing a hardship payment can end the program and return you to standard terms.
Does a hardship plan show up on my credit report?
The hardship plan itself does not appear as a separate notation on your credit report. What shows up is your payment history — on-time payments during the hardship period help your score, while missed payments hurt it. The plan is between you and Credit One, not reported to the bureaus.
Can I pay off my balance early while on a hardship plan?
Yes. Hardship plans do not prevent you from paying more than the agreed-upon amount. If you receive a bonus, tax refund, or other windfall, you can put it toward the balance without penalty. Paying down the principal faster will also reduce the total interest you pay over time.