Coronavirus Credit Card Relief Programs

If you are carrying a balance on credit cards and have suffered a job loss or income reduction due to the Coronavirus pandemic, then you may qualify for some relief.  Multiple credit card issuers have launched programs to assist customers who may have trouble meeting their payment obligations during these unprecedented times.  I’ve compiled a list of providers who are currently offering credit card relief programs to its customers.

Before getting to the list, one word of caution.  Don’t simply stop making your credit card payments and expect everything to be taken care of.  This goes for all credit card providers.  If you are having an issue making your payments call the customer service number on the back of each one of your cards and be prepared to explain how the Coronavirus has impacted your ability to pay.

American Express

AMEX cardholders may qualify for lower or waived interest payments and a waiver of late fees.  You may also be able to skip payments without accruing interest or fees.  If you’ve booked travel through AMEX Travel, then fees associated with changing reservations will be waived through April 30, 2020.

Bank of America

If you are unable to make your payment you can submit a payment deferral online or call customer service.  BOA has also started a Coronavirus help page to assist its customers.  BOA Help Page

Barclays

Barclays is offering a variety of options to its customers including skipping payments, waiving fees, and increasing credit lines.  They too have started a Coronavirus help page. Barclays Coronavirus Help

Capital One

Capital One is urging customers who need assistance to contact the card issuer to see what options may exist.

Chase

Chase has launched an online form where customers can apply to waive up to three months of payments.  Follow this link to apply. Chase payment deferral application

Citi

Citi has also launched an online application where customers can apply to waive late fees and minimum payments for two consecutive billing cycles.  The application can be found here:  Citi application

You may also qualify for credit line increases collection forbearance programs by contacting their customer service department.

Discover

Discover has not issued any specific assistance programs as of the writing of this article, but they are encouraging their customers to contact their customer service department if you’ve been impacted by this pandemic.  They may be doing relief on a case by case basis at present time.

Synchrony Bank

Synchrony also has not issued any specific details concerning relief but is encouraging customers to contact them regarding options for relief should you need it.

U.S. Bank

U.S. Bank is offering case by case assistance including payment deferral, waived fees, and credit line increases.

Wells Fargo

Wells Fargo is offering waived fees, payment deferral, and other tailored options to customers who contact them.

See Also:

How Can You Consolidate Your Credit Card Debts Safely?

5 Benefits of Credit Card Consolidation

Coronavirus Serves as a Positive Test for Investors

6 Tips To Better Manage Your Finances During These Wild Times

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