What percent will credit cards settle for?
Daniel Santos
Updated on January 30, 2026
Credit card companies may settle for a negotiated amount equal to roughly 40-60 percent of the balance owed, according to the BBB. Credit card companies tend not to publicize settlements, so there are no hard statistics on success rates or settlement amounts.
What happens if I settle a credit card debt?
Settlements generally provide you with a cheaper way of paying the creditor an amount that will make the credit disappear, by closing the credit card or loan account. The longer the default payments run the lower your score gets.
How can I negotiate credit card debt myself?
How to negotiate credit card debt
- Confirm how much you owe.
- Review your options.
- Call your credit card issuer.
- Outline your terms.
- Take detailed notes and follow up if needed.
- Get the agreement in writing.
Is it possible to settle credit card debt by yourself?
If you find yourself crippled by credit card debt, having racked up charges that will be hard to pay off, you might be able to settle your accounts with your lenders for less than what you owe. And you might not need a debt settlement company to do it. Here’s how to negotiate credit card debt by yourself.
What happens if you settle a credit card for less than the full balance?
Your credit card company will notify the credit bureaus that you settled your account for less than the full balance. This has a considerably negative effect on your credit scores because it indicates you lacked the necessary debt management skills to pay creditors in full. That negative mark will stay on your credit history for seven years.
How does settling a credit card affect your credit score?
Your credit card company will notify the credit bureaus that you settled your account for less than the full balance. This has a considerably negative effect on your credit scores because it indicates you lacked the necessary debt management skills to pay creditors in full.
What happens if you negotiate a credit card settlement?
Depending on how it plays out, negotiating a credit card debt settlement can significantly lower your credit score. 3. Even before you enter into an agreement, companies may close your account or prevent you from using the credit line any further.
