How much can a credit card hardship program lower your monthly payment?

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September 9, 2026 / 10:58 AM EDT / CBS News

There typically isn't much warning before your budget stops working the way it was intended to. An unexpected expense, a reduction in work hours or just higher costs across several monthly bills can gradually eat away at the financial cushion that once made everything manageable. And right now, many Americans have less room to absorb those changes, as issues with high inflation, a weak job market and ongoing economic uncertainty are continuing to impact people's finances.

That can force some difficult decisions about which expenses in the budget can be reduced and which bills may have more flexibility, particularly for borrowers who are carrying high-rate debt. After all, credit card payments can be particularly challenging now. Carrying a balance at today's high borrowing costs can make it difficult to meaningfully reduce what you owe — even when you're consistently sending money to the issuer each month.

But if that monthly payment no longer fits comfortably into your budget, scraping together the amount on your statement isn't necessarily your only option.

Original source: https://www.cbsnews.com/moneywatch/