Skip A Payment in January

IcyCool7227 · ‎12-01-2025

The other day when I was browsing through traditional banks and credit unions credit options and deposit rates I saw a lot offer Skip A Pay payment in January. Unfortunately, I am still strictly gardening for a while yet but doesn't the major banks ever offer that? Like Amex, Cap 1, Chase, Citi, Discover, etc.? It would be wonderful if they did with all the cyber shopping purchases I've made. If they don't offer that then why don't they?

As of: 8/15/25:
EQ: 783 (prev. 798 on 1/10/25; 794 on 12/19/24; 781 on 9/20/24; 747 on 8/7/24; 781 on 7/1/24; 785 on 3/28/24. 778 on 2/6/24; 773 on 1/26/24; 750 on 1/7/24; 626 on 6/7/23 & 652 in April 2023) - FICO 8
EX: 766 (prev. 769 on 1/10/25; 767 on 10/26/24; 751 on 9/20/24; 729 on 8/7/24; 752 on 7/1/24; 761 on 755 on 2/6/24; 753 on 1/26/24; 732 on 1/7/24; 643 on 6/7/24; 619 in April 2023) - FICO 8
TU: 773 (prev. 768 on 1/10/25; 771 on 12/3/24; 756 on 9/6/24). - FICO 8.

Have:
- Amazon Prime Store Card: $10,000
- Amex Blue Cash Everyday (AU): $10,000
- Capital One Savor Cash Rewards: $3,600
- Chase Freedom Flex: $1,000
- Citi Custom Cash: $9,200
- Citi Double Cash: $8,000
- Citi Rewards +: $5,800
- Discover it Cashback: $2,500
- Kohl’s Charge: $3,000
- Mercury Rewards Visa: $4,390
- PayPal World Cashback MasterCard: $5,500

- Super Cash: Limit varies based on debit balance - doesn't show up in accounts anymore though on CRs.

FicoMike0 · ‎12-01-2025

I've seen that too, mostly credit unions I think.

Seems like a gimmick, to me. I can't imagine the payment just goes away. Look in the fine print, you're going to pay it, with interest, in the end.

GZG · ‎12-01-2025

@IcyCool7227 wrote:
The other day when I was browsing through traditional banks and credit unions credit options and deposit rates I saw a lot offer Skip A Pay payment in January. Unfortunately, I am still strictly gardening for a while yet but doesn't the major banks ever offer that? Like Amex, Cap 1, Chase, Citi, Discover, etc.? It would be wonderful if they did with all the cyber shopping purchases I've made. If they don't offer that then why don't they?

I'm not trying to get a 'loan modification' negative added to my credit report, with any luck the denote that you used the 'skip a month' on the credit report and basically make you toxic to lend to. amex specifically cites as a pretty hardcore denial reason that's tough to overcome.

credit unions typically have decent personal loans which would make for much better options for this rather than a skip payment functionality, IMO

Starting FICO 8:

Current FICO 8:

CreditCuriosity · ‎12-02-2025

Its a gimmick IMO.. You don't have to make a payment but interest is still certainly still accruing unless notated otherwise. So might help people strapped for cash or want to pay the piper at a later time

LiamDavis · ‎12-02-2025

If your purchases from the month got forgiven, then I could really get behind this!

JamesS84 · ‎12-02-2025

Enough people are paying interest at high enough rates already, so they don’t need promotions like this. They’re raking it in already.

ptatohed · ‎12-02-2025

I don't think interest stops with this skip a payment offer. I think they just remove the minimum payment due that month. But since the minimum payment is so small anyway, any one can essentially 'skip a payment' any time by just paying the $39 minimum payment.

But don't!

[Until I can make a pretty signature, here’s an updated draft]

Everyday 5% CB:
Chase prime Visa // citi CUSTOM CASH “A” // citi CUSTOM CASH “B” // citi SHOP YOUR WAY (5% gas (in points), lucrative spending offers) // mylowe’s Rewards // Target circle card // primis Perks debit Visa (50c CB per transaction (5% CB or more up to $10 spend))

5% CB rotating:
Chase “OG” freedom Visa // DISCOVER it Cash Back // nusenda CU Platinum Cash Rewards

Everyday 4% CB:
US Bank Smartly (v1.0)

Everyday 3% / 2.2% CB:
AOD FCU Visa Signature (3%, sockdrawered) // upgrade Cash Rewards Elite (2.2%, sockdrawered)

Welcome Offer / credits only:
Chase SAPPHIRE PREFFERED (grabbed my $1,000, sockdrawered, will cancel) // NFCU FLAGSHIP REWARDS (elevated Welcome Offer, annual prime credit, sockdrawered)

Hotel card:
Chase IHG ONE REWARDS PREMIER (elevated Welcome Offer, 1 free night/yr)

On my radar:
Langely FCU Signature Cash Back (5% CB monthly selectable cat) // Safe CU Cash Back+ (Quarterly rotating 5% CB cats plus bonus cats) // upgrade MyFive Cash Rewards (5% CB monthly selectable cat) // US Bank Kroger (and family) World Elite Master Card(s) (5% CB Mobile Wallet)

dfwxjer · ‎12-03-2025

The only proper way to "skip a payment" is to not make the purchases you can't PIF in the first place. Skipping payments is a debt trap that encourages reckless behavior.

Current active cards:
Amex - Platinum, BCP
BofA - Unlimited Cash Rewards Sig
Chase - CSR, Amazon Prime
Citi - Custom Cash, Costco Visa
TCL - $315k
CC utili - 2%
Experian - 805

MrsCHX · ‎12-03-2025

PenFed used to have this pop up for my auto loan all the time. But 1) the payment just gets pushed to the end of the loan with interest accuring on it for the duration 2) there was fiiiiiine print that said, by skipping a payment, you're ineligible for other credit products for 6 months or more and open lines of credit may be closed.

I certainly wouldn't entertain it!

Capital One Savor: $8,000; Nordstrom Visa: $5,400; Mission Lane: $4,500; LOFT MC: $3,000; AAA Daily Advantage: $2,700; PenFed Power Cash Rewards: $2,000; Capital One: $550 (reallocated $2k to Savor)

Store/Other: Care Credit: $7,500; Amazon: $2.500; Kohls: $2,500; Home Depot: $1,500; Target: $1,100