Share
Bank of America Hardship Program: How to Get Help With Your Credit Card
Short answer: yes. Bank of America tells cardholders who are struggling to pay that it may be able to help, and it publishes a phone line for exactly that. It doesn't publish program terms, so what you're offered, typically a lower rate, a smaller payment or waived fees for a set period, is decided case by case.
I run a debt relief company, and Bank of America cards come up regularly in my work. Here's how its hardship help works, who to call, what a lower rate is worth, and what to do if a plan won't be enough.
Does Bank of America Have a Hardship Program?
Not under that name, but Bank of America is unusually direct about the help. Its credit card payment assistance page tells cardholders in financial difficulty that "it is in all our interests to get it resolved," and lists a phone number to call.
Its credit card FAQ makes the same point: if you can't pay consistently and on time, Bank of America may be able to help. Whatever you call it, hardship program or payment assistance, you have to ask for it.
Who to Call at Bank of America
Bank of America's assistance page lists 855.891.3401 for consumer credit cards and 888.306.4949 for business cards. You can also use the number on the back of your card. Either way, ask for payment assistance or hardship options by name.
Phone numbers change, so check the assistance page before you call.
Which Bank of America Cards This Covers
The same process applies to Bank of America's own cards, like Customized Cash Rewards, Unlimited Cash Rewards, Travel Rewards and BankAmericard, and to co-branded cards Bank of America issues for partners. Business cards go through the separate business line, and their options can differ.
What Bank of America Can Offer
Bank of America doesn't publish its hardship terms, and what you're offered depends on your account and what changed. The accommodations to ask about:
- A lower interest rate for a set period. Usually the most valuable piece, because more of each payment reaches the balance.
- A smaller monthly payment. It eases cash flow, but at the same rate it stretches the debt out, so ask about the rate too.
- Waived late fees. Ask about fees already charged and fees going forward.
- A longer plan for bigger setbacks. A structured plan to pay the balance down over more time.
Your card may be suspended or closed while you're enrolled, so ask before you agree. And none of this reduces what you owe; it makes the balance cheaper to carry for a while.
What a Lower Rate Is Actually Worth
The rate does more work than the payment, and bigger balances show it fastest. Take a $12,000 balance at 22.99% APR with a $450 monthly payment: in the first month, about $230 goes to interest and $220 reaches the balance. At a 7.99% hardship rate, the same $450 would send about $370 to the balance.
📊 Same balance, same payment, different rate:
| At 22.99% APR | At a 7.99% hardship rate | |
|---|---|---|
| First month's interest | $230 | $80 |
| First month's payment toward the balance | $220 | $370 |
| Balance paid down over 12 months | $2,938 | $4,607 |
| Balance after 12 months | $9,062 | $7,393 |
| Interest paid over 12 months | $2,462 | $793 |
Illustrative example: a $12,000 balance and a $450 monthly payment for 12 months. Bank of America sets any hardship rate case by case.
Here the lower rate pays down more than half again as much of the balance and saves about $1,670 in interest, with the same monthly payment.
Who Qualifies for Bank of America Hardship Help
Bank of America reviews requests case by case. The hardships that typically get a serious hearing are a job loss or reduced income, a medical emergency, a divorce, a death in the family, or a natural disaster. Be ready to explain what happened, how long it should last, and what you can pay.
Timing matters. Call before you miss a payment if you can, or right after the first one. Once an account charges off, usually after about six months of missed payments, hardship options are gone. Here's what happens if you stop paying your credit cards.
How to Ask Bank of America for Help
The CFPB's advice for anyone who can't pay a card bill is to contact the company right away and be ready to explain why, how much you can afford, and when you expect to recover. Applied to Bank of America:
- Know your number. Work out what you can pay each month and for how long before you call.
- Call the right line. Use 855.891.3401 for a consumer card or the number on the back of your card.
- Ask for it by name. Say you're in financial difficulty and want to hear your payment assistance or hardship options.
- Ask the questions that matter before you agree. What will my rate be, and for how long? What will my payment be? Will my card be suspended or closed? How will the account be reported? What happens if I miss a plan payment?
- Get the terms in writing. Ask for a letter or secure message confirming the plan, and note who you spoke with and when.
- Cover every card. Ask about each Bank of America card, and use the business line, 888.306.4949, for business cards.
What to Say When You Call
Keep it short and specific:
"Hi, I'm calling about my Bank of America credit card. I was out of work for two months after an injury, and I'm back now but behind on my bills. I can pay $300 a month for the next six months. What payment assistance or hardship options do you have for my account?"
Use your own details, and stay on the line until you've heard the rate, the length of the plan, and what happens to the card. If you'd rather explain your situation in writing first, here's how to write a hardship letter to credit card companies.
Does a Bank of America Hardship Plan Hurt Your Credit?
Enrolling isn't a late payment. Bank of America keeps reporting your payment history, so on-time plan payments help, and late payments already reported stay on your report. The CFPB recommends confirming a hardship plan's terms, including how the account will be reported, before you agree.
The bigger hit usually comes if the card is closed or its limit is cut. Less available credit raises your utilization, which can lower your score even while you pay on time. If you fall out of the plan, the account can go back to its original terms.
Bank of America Points You to Credit Counseling
Bank of America goes further than most banks in pointing customers to outside help. Its credit counseling page explains how a debt management plan works: you make one monthly payment to a counseling agency, which pays your creditors.
The same page says counseling mainly helps people who can only afford minimum payments, are near or over their credit limits, or are getting collection calls. If that's you, a debt management plan through nonprofit credit counseling can cover all your cards at once, not just this one.
When a Hardship Plan Isn't Enough
A hardship plan fits a temporary setback with income coming back. A debt management plan still repays the full balance. If you can't see a realistic way to repay everything even at a lower rate, a few months of relief only postpones the same decision.
The other route is debt settlement, which resolves debt for less than the full balance, typically over 12 to 48 months. Settlement has real costs: it damages your credit, it carries fees, forgiven debt can be taxable income, and creditors can still sue while accounts are being negotiated.
📊 How the options compare:
| Option | Your balance | Your card | Credit impact | Best for |
|---|---|---|---|---|
| Bank of America hardship plan | You repay all of it | May be suspended or closed | On-time payments reported; a closed card can raise utilization | A temporary setback |
| Debt management plan | You repay all of it, usually over 3 to 5 years | Usually closed | Closed cards can raise utilization; on-time payments help | Steady income and several cards |
| Debt settlement | Resolved for less than the full balance, typically over 12 to 48 months | Closed | Significant damage from missed payments and settled accounts | Balances you can't realistically repay |
If Your Bank of America Account Is Already Charged Off
A charge-off doesn't erase the debt. Bank of America writes the account off, usually after about six months of missed payments, but you still owe the balance, and hardship options no longer apply.
The account may stay with Bank of America's collections team, go to a collection agency, be sold to a debt buyer, or go to a law firm. The charge-off stays on your credit report for seven years from when you first fell behind.
Your options are paying in full, a payment arrangement with whoever holds the debt, or a settlement for less. If you're served, here's how to answer a summons for credit card debt, and check the statute of limitations before paying anything on a very old account.
The Bottom Line
Bank of America publishes a number for cardholders in financial difficulty and its own guide to credit counseling, so use both. Call before you miss a payment if you can, go in with a number you can actually pay, and get the rate and terms in writing. If the balance itself is the problem, a hardship plan only buys time.
For cards with other banks, see our guide to hardship programs by issuer, plus our Chase, Capital One, Citi and Discover guides and our overview of credit card hardship programs. When you're ready to weigh the bigger options, see how our debt relief program works.
Frequently Asked Questions
Does Bank of America have a hardship program?
Not by that name, but Bank of America tells cardholders in financial difficulty that it may be able to help, and it publishes a phone line for it. Help is decided case by case.
What is the Bank of America hardship phone number?
Bank of America's assistance page lists 855.891.3401 for consumer credit cards and 888.306.4949 for business cards. You can also call the number on the back of your card and ask for hardship options.
Can Bank of America lower my interest rate because of a hardship?
It can, case by case. Ask what rate applies, for how long, and what happens when the plan ends; a lower rate usually does more than a lower payment.
Does Bank of America recommend credit counseling?
It points customers to it. Bank of America's credit counseling page explains how a debt management plan works through a counseling agency and who it tends to help most.
Does a Bank of America hardship plan hurt your credit?
Enrolling isn't a late payment, but missed plan payments are still reported, and a suspended or closed card can raise your utilization. Ask how the account will be reported before you agree.
Will Bank of America close my card if I enroll in a hardship plan?
It may suspend or close the card while you're enrolled. Ask before you agree, so you know what happens to the account and its credit limit.
Do Bank of America business cards qualify for hardship help?
Ask. Bank of America lists a separate number for business cards, 888.306.4949, and business accounts can have different options.
What happens if my Bank of America card is already charged off?
Hardship options end once an account charges off, usually after about six months of missed payments. You still owe the balance, and your options are paying it, a payment arrangement, or a settlement with whoever holds the debt.