In the latest coronavirus news regarding credit cards, Citibank joins the growing line of issuers offering financial assistance. With unemployment rates continuing to skyrocket, more and more consumers must rely on their emergency savings to get by. Those who find themselves without funds to spare consider their credit cards a lifeline in these turbulent times. Fortunately, Citi cardholders can now submit requests online to have their Citibank late payment fees waived, as well as their minimum payments.
Who Qualifies for the Citi Card Late Fee or Minimum Payment Waiver?
Any consumer holding one of the many Citibank credit cards can apply for coronavirus credit card relief from this bank. However, those who were already receiving hardship assistance prior to the virus may be ineligible for additional fee waivers.
While other issuers offer various coronavirus relief measures on a case-by-case basis, Citibank seems to offer a more consistent approach. For cardholders who apply for coronavirus relief on their Citi card, no late fees or minimum payments will be charged for two consecutive months.
Citi will continue to report accounts as current to the credit bureaus as long as they weren’t already delinquent. It’s important to note that unpaid balances will still accrue interest over those two months.
How to Request Citibank Coronavirus Relief
With the customer services lines overloaded with calls each day, customers have the option to request their Citi card late fee and minimum payment waiver online. They can either use the Citi Mobile App or log in to their account online. To complete the entire process, cardholders must follow these steps:
- Click the digital coronavirus assistance link on the bank’s COVID-19 resources page
- Log into your mobile or online account
- Select the Citi card or cards you need assistance with
- Press submit
You can expect to hear back on their request within 10 business days. For assistance with your credit cards from other issuers, check out our updated contact page for major lenders during this time.