I have high balances on 2 CC's. One is with Citibank and the balance is $27000. The other is with Bank of America and the balance is $15400. The minimum payment on my Citibank card almost doubled to $930 with the recent rate change and the BoA minimum is $415. I am currently current on both accounts and have managed to pay a little more than the minimums for the past few months. Do you think it would be wise to call Citibank to see if I can get on their hardship program and try to knock down the balance with that? I highly doubt I could get a consolidation loan for both accounts due to their size. Any other options that I could consider? Thanks!

Depending on your interest rates on those accounts, a Debt Management Plan (DMP) could be an option.

You may want to read the pinned threads in this forum for more about that.

I don't know about Citibank, but I called Chase yesterday to see if they would knock my minimum payment back to 2% (they jacked it to 5%) several months ago, and they did it in a heartbeat. Of course I lost my "lifetime" 3.99% APR (they made it 7.99%), but I can live with that. I'll get to it after I get my debt snowball back on track. The fact that you are current will only help. Good luck. Let us know how it goes, whichever path you take.