Last updated on November 12th, 2020
The coronavirus pandemic still rages. Many Americans continue to find themselves either working from home or having their hours slashed. Because of this, reports indicate that as many as 67 million Americans worry that they’ll struggle to pay their credit card bills as a direct result of COVID-19 (coronavirus). Fortunately, as Americans continue to worry about how they’ll pay their bills, banks are still offering coronavirus credit card relief to customers.
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Coronavirus Payment Relief Headlines
Originally, the most notable coronavirus credit card relief assistance came from Apple and their Apple Card. Goldman Sachs was one of the first to offer the option of relief from credit card payment burdens during the pandemic. While Apple doesn’t volunteer the information, Goldman Sachs is the issuer of the Apple Card. The bank is allowing Apple Cardholders the option to defer their monthly payment for March. This means cardholders won’t need to pay their bill this month, without fear of added interest or late charges.
Synchrony Bank might not be the most prominent credit card issuer. Still, they have earned praise for their coronavirus relief efforts. Synchrony credit cards are typically store cards, with names like Rakuten, Crate & Barrel, and more. Synchrony has been working one-on-one with their cardholders, offering relief where possible. The bank’s proactivity includes reducing interest rates, increasing credit limits, and waiving late charges.
What Are Issuers Doing to Help Cardholders?
What are other credit card issuers doing to help their customers? The general rule of thumb is that each bank prefers to deal with customers on a personal level. As such, they don’t offer a one-size-fits-all solution to the coronavirus.
Major credit card issuers and lenders,s such as Chase, Amex, and Citibank, continue to offer payment assistance for consumers financially hit by the COVID-19 pandemic. These assistance programs may vary slightly, but typically offer some of the following:
- Deferred payments (with or without interest)
- Delayed payments
- Waiving of fees (including late fees or annual fees)
- Retention bonuses for existing holders of premium travel reward credit cards.
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How to Contact Your Credit Card Company for Assistance
If you are feeling the financial pinch as a result of coronavirus, it’s important to contact your card issuer to see if some form of relief is available.
When contacting your lender, make sure to be open and honest about your situation, and how COVID-19 is impacting your personal finances. Have a set of questions ready concerning any issues that may arise, including:
- What happens if you miss a payment?
- The types of fees can you expect (if any)?
- How long does their relief program last for? Is it month-to-month, doe sit extend for several months, etc.?
- Can you continue with the assistance program if your financial situation doesn’t;t improve?
- Will your credit card have a hold on it while in the program, or can you use it as normal?
More information on financial assistance can also be found on the Consumer Finance Protection Bureau’s website.
Credit Card Issuer Contact Information
Below you will find the phone numbers for the customer service personnel of all major issuers and select credit unions:
- American Express: 1 (800) 528-4800
- ABOC: 1 (800) 365-6464
- Bank of America: 1 (800) 732-9194
- Bank of Missouri: 1 (888) 547-6541
- Barclays: 1 (877) 523-0478
- BB&T (Truist): 1 (800) 476-4228
- BBVA: 1 (800) 239-5175
- Bethpage Federal Credit Union: 1 (866) 820-3847
- Capital One: 1 (800) 227-4825
- Chase: 1 (800) 432-3117
- Citibank: 1 (800) 950-5114
- Citizens Bank: 1 (800) 684-2222
- Comenity Bank: 1 (855) 842-9245
- Commerce Bank: 1 (800) 453-2265
- Credit One: 1 (888) 729-6274
- Discover: 1 (800) 347-2683
- Fifth Third Bank: 1 (877) 366-5520
- First Bank and Trust (Mercury Mastercard): 1 (866) 686-2158.
- (First Bankcard: 1 (888) 295-5540
- Golden 1 Credit Union: 1 (800) 847-2911
- HSBC: 1 (800) 975-4722
- Merrick Bank: 1 (800) 204-5936
- Navy Federal Credit Union: 1 (888) 842-6382
- Pentagon Federal Credit Union: 1 (800) 247-5626
- PNC Bank: 1 (800) 558-8472
- RBC: 1 (800) 769-2512
- Regions Bank: 1 (800) 253-2265
- Synchrony: 1 (877) 295-2080
- TD Bank: 1 (888) 561-8861
- U.S. Bank: 1 (800) 285-8585
- USAA: 1 (800) 945-6759
- Wells Fargo: 1 (800) 642-4720
Stay up-to-date with the latest coronavirus news and assistance. BestCards is continuously updating our COVID-19 News section to provide the latest information s it happens. Additionally, this page will update regularly as more information becomes available. Be sure to bookmark this page and check back often.
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