Reduced interest/payment on BofA credit card?
Hey, need a lower interest rate or payment?
888-800-9030 is the collections/hardship number.
If you need a lower rate or lower payment on your card, you can ask for one. If your card is closed/youre okay with closing it, you can do the following:
They'll ask some questions. Just say you have unexpected living expenses, like taking care of a parent or your car broke down, something.
Say the hardship will be longer than six months.
Give an income amount that is sufficient to cover your bills. Do not lie to make it lower - that doesn't help (ability to pay).
Make sure your housing payment doesnt take up all or most of your income when asked.
This will give you a good shot at getting a reduced payment plan offer on a 60 month term with an APR under 7%.
Worked for me.
So if you have a massive debt on a card or something, even a business card, and you're alright with closing the card and paying it back for an interest rate under prime, this is what Bank of America is offering for customers who qualify.
EDIT: ALSO, they might lie and say that autopay is a requirement. It isn't. They're just graded on getting automatic payments. If you don't want to sign up for autopay, it's not a requirement for that program. I have confirmed this with multiple agents over several calls.