The Capital One hardship program seems to be one of the hardest ones to get into…but I think I cracked the code!! Here’s what I did:
I called them a couple times this month, and just today I got approved for a 60 month payment plan with 7% interest. I owe $4500 on the card. Here’s what I said in the latest call:
Me: I am not able to afford my payment this month. Are there any options available for me?
Capital One: How much can you afford to pay, and when can you make the payment?
Me: I can afford about $125 (monthly interest + $25) by my due date this month.
Capital One: What is your hardship?
Me: Reduction of my monthly income. I’m not making as much as I used to.
Capital One: How long do you expect this hardship to last?
Me: At least 12 months.
Capital One: Looks like you’re eligible for a 3 month plan to get you back on track at $287 per month.
Me: I can’t afford that amount.
Capital One: I’ll check for other options. You’re eligible for a 60 month payment plan with reduced interest and no late fees.
I just had a baby, and everything financially seemed to be going wrong. I’m so thankful to have gotten onto a payment plan with them, and I hope this post helps someone else.
https://www.reddit.com/r/CreditCards/comments/1pqxiah/capital_one_hardship_program_success/