A credit card settlement is an offer made to a customer to repay a portion of the amount they owe.

• It includes setting up equal payments so the settled amount can be paid in full by a specified due date (usually less than six months).
• The remaining balance is reported to credit reporting agencies as being charged-off after the settlement terms are complete. See also: What is a charge-off?

More information

If you want to see if you’re eligible for a settlement, log into digital banking. If available, an offer will be linked to your credit card account. Select the link to view those details and enroll.