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How credit card payment deferment works

If you're having trouble making credit card payments, consider requesting credit card payment deferment as a temporary relief.
credit card waiver for 3 months

Our editorial team is independent and objective. To help support our review work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the CreditMashup site. This site does not include all companies or products available within the market.

We also include links to advertisers’ offers in some of our articles; these “affiliate links” may generate income for our site when you click on them. The compensation we receive from advertisers does not influence the recommendations or advice our editorial team provides in our articles or otherwise impact any of the editorial content.

While we work hard to provide accurate and up to date information that we think you will find relevant, CreditMashup does not and cannot guarantee that any information provided is complete and makes no representations or warranties in connection thereto, nor to the accuracy or applicability thereof. Here is a list of our partners who offer products that we have affiliate links for.


Credit card delinquency rates rose in early 2024, with 8.9% of previously current cardholders falling behind on payments, compared to 8.5% in the prior quarter, according to the Federal Reserve Bank of New York.

For people experiencing trouble paying their credit card bills or anticipate falling behind, it’s possible that your credit card company offers some type of hardship program that includes payment deferment.

What are credit card hardship programs?

Hardship programs are designed to provide temporary relief to cardholders facing financial difficulties. The specific terms and conditions of these programs vary depending on the credit card issuer and the individual’s circumstances. However, they may include options such as:

  • Payment deferment: Temporarily postponing payments for a specified period.
  • Reduced minimum payments: Lowering the required minimum payment amount.
  • Reduced interest rates: Temporarily lowering the interest rate on the outstanding balance.
  • Waived fees: Waiving late fees or over-limit fees.

How to request credit card payment deferment

Contact your credit card issuer to explain your situation and inquire about the available hardship programs. They will typically ask for documentation to verify your hardship, such as proof of job loss, medical bills, or other relevant documents.

It may take a few calls to get to the right person but it’s worth the effort because it’s difficult to recover your credit scores from late payments.

How payment deferral works

Each credit card issuer will have different criteria you must meet but typically a payment deferment temporarily allows you to stop making payments for a period of time until you’re able to resume regular payments.

Be sure to request any late payment fees be waived during the deferment arrangement.

Hardship programs are not a long-term solution for financial difficulties. They’re intended to provide temporary relief while you get back on your feet.

Be aware of any potential impact debt payment deferment has to your credit scores before agreeing to a hardship program.

Alternatives to hardship programs

Consider seeking professional financial advice if you are struggling with debt. If you are not eligible for a hardship program or need additional assistance, there are other options to explore, such as:

  • Balance transfer cards: Transferring your balance to a credit card with a lower interest rate.
  • Debt consolidation loans: Combining multiple debts into a single loan with a lower interest rate.
  • Professional guidance: Credit counseling provides guidance on debt management plans and overall personal finance information.

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