To give you immediate financial relief due to COVID-19, we’re now offering Skip-A-Pay on all your eligible loans. With Skip-A-Pay, you can postpone your monthly payments with no late fees. Interest will continue to accrue.
How Skip-A-Pay Works for Credit Cards
- Skip-A-Pay will automatically be applied to all eligible credit cards for April and/or May statements.
- If you qualify, you will see your Minimum Payment Due as $0.
- By qualifying for Skip-A-Pay, we will not report you late to the credit bureaus.
- Interest will continue to accrue on your outstanding balance.
- If you do not want to take advantage of Skip-A-Pay, you can still make a payment that meets the needs of your financial situation.
If you have not been automatically qualified for Skip-A-Pay, please reach out to our Member Assistance Program to see how we can help you.
How Skip-A-Pay Works for Other Loans
- Your monthly payments will be postponed by three months with no late fees.
- There is no impact to your credit score.
- Interest will continue to accrue. The extended payment(s) may result in additional payments or a larger final payment.
- If you have loans eligible for Skip-A-Pay, you will see a pop-up when you log in to Online Banking, or Coastal’s mobile app. You will also see an option on the Emergency Relief tile to enroll. If you don’t see an option for Skip-A-Pay, please reach out to our Member Assistance Program to see how we can help you.
- Lines of Credit due dates will advance one month at a time. You will not need to make a payment as long as the payment due is $0.00 on the first of the month.