When can you ask a credit card company to pause your payments?

Americans are carrying more credit card debt than ever, and that's a problem for numerous reasons. The total credit card balance nationwide recently surpassed $1.2 trillion, with the average cardholder owing nearly $8,000 on their credit cards. At the same time, the average interest rate on credit cards is closing in on 22%, which is close to a record high. Between today's high balances and elevated rates, all it takes to fall behind is an issue with unexpected bills, a job loss or a health emergency. 

These financial hurdles can make it impossible to stay current on your credit card debt, even if you're not carrying as much debt as the average person. The good news is that some lenders do offer temporary relief options, including the ability to pause your monthly payments. These programs can be a lifeline for borrowers who just need a short break to get back on track. Navigating these options can be complicated, though. 

Part of the issue is that not everyone qualifies for this type of assistance, and the terms can vary widely depending on the issuer. So, before you pick up the phone, it helps to understand the scenarios in which a credit card company might agree to a temporary payment pause, and steps to take if they won't.

Find out how the right debt relief strategy can help you take back control of your finances.

When can you ask your credit card company to pause payments?

You can typically request payment relief when you're experiencing a temporary financial hardship. Credit card companies are more likely to approve requests when they believe your situation will improve within a reasonable timeframe, usually three to twelve months.

Each card issuer's program varies, so the requirements for enrolling with one issuer may not be the same with another issuer. That said, some of the common situations that qualify for hardship programs include job loss or significant reduction in income, medical emergencies or extended illness, natural disasters affecting your home or workplace, divorce or death of a spouse and military deployment. 

What is consistent from one card issuer to the next, though, is that the earlier you reach out for help, the better your chances of approval. So, you shouldn't wait until you've already missed several payments. It's important to contact your credit card company as soon as you realize you might have trouble making upcoming payments.

When you call, be prepared to explain your situation clearly and honestly. Have documentation ready, such as termination letters, medical bills or insurance claims. Most companies will ask about your monthly income, expenses and when you expect your situation to improve.

The types of relief available will vary by company but often include temporary payment deferrals (usually one to three months), reduced minimum payments for a set period, temporary interest rate reductions, waived late fees and over-limit charges and modified payment plans that spread your balance over a longer period.

It's worth noting that not all requests are approved, even with a qualifying financial issue. Factors that improve your approval odds include having a good payment history with the company, being current on your account when you call, demonstrating a genuine temporary hardship and showing a realistic plan for resuming normal payments.

Explore the debt relief options available to you here.

What to do if your credit card company won't help

If your credit card company denies your hardship request or doesn't offer sufficient relief, don't panic. You still have several debt relief options to consider, including:

• Debt management programs: When you enroll in a debt management program through a credit counseling agency, the goal is to reduce the interest rates and fees on your credit card debt while rolling your monthly payments into one obligation. This can reduce the overall cost of your credit card debt while streamlining the repayment process.
• Balance transfer credit cards: Moving high-rate credit card debt to a new credit card with a 0% introductory APR can provide temporary relief while you pay down principal.
• Debt forgiveness: If your debt has become unmanageable, some debt relief companies will negotiate with your creditors to reduce the total owed in return for a lump-sum payment on the account. This can save you a significant amount, though it may impact your credit score.
• Personal loans: Consolidating your credit card debt with a low-interest personal loan can make your payments more predictable and potentially lower the total interest paid.

The bottom line

Pausing your credit card payments can be a helpful tool when you face unexpected financial stress, but it's not a guaranteed solution, and it's not available in every situation. Lenders are generally more likely to approve requests tied to verifiable hardship, such as job loss, medical emergencies or natural disasters, but it varies from one card issuer to the next. 

If your request is denied, the upside is that there are alternatives to help you regain control, from structured repayment programs to balance transfers and personal loans. Whatever route you take, though, make sure to act early and understand the potential trade-offs. A short pause can prevent missed payments from escalating into late fees, higher interest, or a damaged credit score, but only if it's handled carefully.