What is the “Payment Skip” program?
Payment Skip is a program UBT is administering for credit card customers who may be experiencing financial hardship due to the effects of coronavirus (COVID-19), allowing them to skip their minimum payment due for statement cycles in April and May of 2020.
What are the eligibility requirements to take advantage of Payment Skip?
Cardholders with any UBT Visa consumer or commercial credit card who are not past due or blocked due to a status of stolen, bankrupt, deceased, or closed with a zero balance are eligible for this program.
When is Payment Skip valid?
Payment Skip is available for statement cycles that end April 1, 2020 – May 31, 2020. Eligible customers will see a message on their statement during this time frame reminding them that they may skip that cycle’s minimum payment on their account and that finance charges will continue to accrue.
How many payments can I skip?
You may skip up to two payments; the first payment due from your statement cycle in April and the second payment due from your statement cycle in May.
What action do I have to take to participate in Payments Skip?
There is no need to call in or enroll into this process. Simply do not make your minimum payment.
If I still want to make my payment, or a partial payment, is that OK?
Yes, you may continue to make a full or partial payment if you wish.
If I have my credit card payment set up on auto pay, can I skip a payment?
Yes, you may. We need 3 days advance noticed to stop a payment coming from a UBT account, and 10 business days if it’s a non-UBT account. Please contact us at 833.323.1465 for assistance.
Will I be charged interest or any other fees if I skip a payment?
You will not be assessed a late fee; however, interest will continue to accrue on the balance owed.
What happens to my minimum payment due in the June statement cycle if I decide to skip payments?
The minimum payment due will follow the standard calculation outlined in your cardholder agreement.
Will there be any changes to my credit limit if I skip a payment?
No, your credit limit will remain the same. Please be cognizant of how your available credit is impacted by not making a payment and by any purchases you may make. If you would like to request an increase to your credit limit, please contact us at 1.888.828.4450 to discuss options.
If I skip a payment, how will this impact my credit score/report?
There will not be any adverse impact on your credit score due to skipping a payment during this program (April 1 – May 31 statement cycles).
Who do I contact if I have questions about Payment Skip?
Contact the UBT Customer Support Team at 833.323.1465.