Credit Card Debit Relief Options By Bank for Coronavirus

by Shelli

The coronavirus is challenging many people when it comes to paying their bills. In response to COVID-19, credit card issuers are offering debt relief and support. If you’ve been financially impacted by COVID-19, reach out to your credit card issuer for help. This post outlines, bank by bank, what help financial institutions are offering and the best ways to reach out to them.

Credit Card Debt Relief and Support Due to Coronavirus

Your ability to pay off credit card debt or even consolidate credit card debt can be challenged during times like these. What’s happening to the economy and the uncertainty of when it will open again have affected us all. This list will help you contact your bank and find out more about what debt relief and support they offer.

American Express

Need help managing your account or perhaps travel booked through American Express? Use their Coronavirus Support Hub to find the help you need.

If you were approved for an American Express credit card between December 1, 2019 and May 31, 2020, your welcome offer period has been extended. An additional 3 months has been added. This extension gives you time to meet the spend threshold for earning your welcome bonus.

American Express offer its American Express Financial Relief Program. This program addresses monthly payments, late charges, interest rates, and accounts that are past due.

How to Get Support from American Express

  • American Express Coronavirus Support Hub, click here.
  • American Express Financial Relief Program, click here or call 866-703-4169.

Bank of America

Bank of America has a Client Assistance Program. If you’re a Bank of America customer with personal and small business accounts and credit cards, this program can work for you. It’s also the program addressing customer needs with small business loans, auto loans, and mortgages.

Assistance can include:

  • Refunds of overdraft, late, and non-sufficient funds fees
  • Reimbursement of certificates of deposit early withdrawal fees
  • Refunds of monthly account maintenance fees
  • Deferred payments on credit cards, loans, and mortgages

How to Get Support from Bank of America

  • Request a payment deferral online, click here.
  • Request a fee refund from Bank of America, call 800-432-1000.
  • Need more information about Bank of America’s COVID-19 policy? click here.

Barclays

Barclays does not yet have an official plan to assist customers during the COVID-19 crisis.

How to Get Support from Barclays

For payment relief on Barclays credit cards:

  • Log on to your account on the website listed on the back of your credit card
  • Select Contact Us
  • Click Payment Relief to submit a request

For payment relief on personal loans:

For more information about how Barclays is responding to the COVID-19 pandemic, click here.

Capital One

Capital One has not yet announced any programs in response to COVID-19.

If you need assistance, contact Capital One directly.

Information on Capital One’s response to COVID-19 can be found here.

Chase

Need to delay your Chase payments? Chase customers may delay up to 3 payments on personal and business credit cards, mortgages, and auto loans/leases.

How to Get Support from Chase

  • To request payment deferrals on Chase credit cards, enroll online
  • If you’re active duty military, contact Military Services by calling 877-469-0110.

Read more about Chase’s response to COVID-19 here.

Citi

Citi has various relief programs in place depending on the Citi product. If you need help, request it from Citi and here’s what’s possible.

  • Credit Cards: Citi will waive the minimum payment due requirement and late fees for 2 statement cycles.
  • Personal Loans: Citi will defer monthly payment and late fees for 2 statement cycles.
  • Banking: Citi began offering fee waivers for safe deposit boxes and non-Citi ATM fees, on April 3, 2020. Through May 8, 2020, Citi will waive monthly service fees and early certificate of deposit withdrawal fees.
  • Small Business: Through May 8, 2020, Citi will waive fees on monthly service fees, remote deposit captures, and early certificate of deposit withdrawals.
  • Mortgages: Citi is offering a 90-day forbearance for customers experiencing financial hardship. Foreclosures and evictions have also been paused.
  • Student Loans: Forbearance programs are available through Citi’s subservicer, Firstmark.

How to Get Support from Citi

  • Credit Cards: For online assistance, log in to your account to request assistance. To access the collections forbearance program, text “App” to 692-484.
  • Personal Loans: To defer monthly payment and late fees for 2 statement cycles, call 800-685-0935.
  • Mortgages: For more information about Citi’s forbearance, call 855-839-6253.
  • Student Loans: Contact Firstmark for more information about loan forbearance by calling 888-538-7378.

To read more about Citi’s response to COVID-19, click here.

Ask for credit card debt relief from your bank

Image: Flickr

Comenity

Comenity has programs in place to help customers needing financial assistance. However, program details are not provided online.

How to Get Support from Comenity

  • Call the number on the back of your card for more information.
  • Read Comenity’s message in response to COVID-19 here.

Discover

Discover has programs for qualified customers needing assistance as a result of COVID-19.

How to Get Support from Discover

For more information, contact Discover through one of these options:

  • Credit Cards: Send a message through your online account, mobile app or by calling 800-497-2816
  • Online Banking: Call 800-347-7000
  • Personal Loans: Call 877-256-2632 Monday to Friday between 8 a.m. and 8 p.m EST
  • Home Loans: Call 855-295-2193 Monday to Friday between 8 a.m. and 8 p.m EST
  • Student Loans: Call 800-STUDENT

Visit Discover’s COVID-19 FAQ page here.

HSBC

HSBC has these options in place for customers needing help during the COVID-19 pandemic.

  • Personal Banking: HSBC offers fee waivers on ATM fees, overdraft fees, monthly maintenance fees, and early withdrawal fees on CDs.
  • Personal Loans and Credit Cards: Payment reductions or deferrals are available. Also, fees for cash advances, insufficient funds, overdraft protection, and late fees will be waived for 60 days once you enroll in the HSBC program.
  • Mortgage and Home Equity Loans: HSBC offers payment reductions, deferrals, and late fee waivers.
  • Business Banking: HSBC offers waivers on ATM fees, overdraft fees, and monthly maintenance fees.
  • Business Credit Cards: HSBC offers payment reductions, deferrals, and late fee waivers.

How to Get Support from HSBC

To request assistance, contact HSBC.

  • Deposit Accounts: Do a live chat or call 866-949-2351 8 a.m. to 10 p.m. EST
  • Personal Loans and Credit Cards: Send a secure message through your online account or call 866-949-2351 8 a.m. to 10 p.m. EST
  • Mortgages: Call 855-806-4657
  • Business Banking: Contact your relationship manager or call 833-722-4722 Monday to Friday 8 a.m. to 9 p.m. EST or Saturday 8 a.m. to 4:30 p.m. EST
  • To learn how HSBC is responding to COVID-19, click here.

PNC Bank

PNC Bank offers these options to its customers needing help.

  • Credit card and mortgage fees will be waived or refunded.
  • Some PNC Bank customers will be able to postpone monthly payments for auto loans, unsecured installment loans or unsecured lines of credit, credit cards, mortgages, and home equity loans or lines of credit.
  • Students may also be able to postpone or modify their loans.

How to Get Support from PNC Bank

  • If you need assistance from PNC Bank regarding your auto loan, personal or business credit card, home equity loan or line of credit, or a personal loan or line of credit, use this online form.
  • If you need assistance from PNC Bank regarding your mortgage, use this online form.

For more information about PNC Bank’s coronavirus response, click here.

Synchrony

Synchrony is offering help those customers experiencing difficulties due to COVID-19.

Contact Synchrony to discuss any of the following regarding credit card debt relief:

  • Fee adjustments
  • Deferred payments
  • Extending a credit card promotion
  • Changing your credit limits

How to Get Support from Synchrony

To contact Synchrony, use the phone number on the back of your credit card or your statement.

To read more about Synchrony’s response to COVID-19, click here.

U.S. Bank

U.S. Bank is offering assistance on a case-by-case basis to their customers.

U.S. Bank’s Mortgage Assistance Plan may allow you to suspend payments (with no fees or penalties) for up to 180 days. They are also offering assistance for auto, boat, RV loans and leases.

If you have been approved for a new auto, boat, or RV loan from April 7, 2020, through June 30, 2020, you can extend your first loan payment due date for up to 60 days. This is valid in all states except Pennsylvania.

How to Get Support from U.S. Bank

  • Mortgage Assistance Plan: Log in to your account and select Mortgage assistance from the dashboard. If you don’t have an online account, click here to request assistance.
  • Existing Auto, Boat, or RV Loan: Log in to your online account to request a loan extension.
  • Existing Auto, Boat, or RV Lease: Call 800-USBANKS for assistance.

Learn more about U.S. Bank’s response to COVID-19, click here.

USAA

USAA is offering financial assistance to eligible members. Contact USAA to see if you qualify.

  • Credit Card Debt Relief: 90-day payment deferral
  • Loans: 60-day payment extension on consumer loans
  • Mortgages: Payment assistance for mortgages and home equity lines of credit
  • Banking: For deposit accounts with a negative balance at the time of a stimulus payment deposit, recovery of any negative balance will be paused for 90 days
  • Auto and Property Insurance: No fees will be charged for late payments on auto or property insurance policies through June 17, 2020. USAA policies will not be canceled due to late payments during this time
  • Life and Health Insurance: A 60-day extension and a 30-day grace period will be applied to life and health insurance payments

How to Get Support from USAA 

If you need help with any of these benefits, call USAA.

  • Banking: 855-764-4617
  • Mortgages: 855-430-8489
  • Home Equity Line of Credit: 800-531-0832
  • Auto and Property Insurance: 800-531-8722
  • Life and Health Insurance: 800-531-08068

For more information about USAA’s coronavirus financial assistance plans, click here.

Wells Fargo

During this COVID-19 crisis, Wells Fargo is suspending residential property foreclosures, evictions, and involuntary vehicle repossessions.

Wells Fargo also offers fee waivers and payment deferrals to customers who request help.

You can find Wells Fargo contact information here.

How to Get Support from Wells Fargo

If you need help managing your mortgage during this time, Wells Fargo is offering a 3-month payment suspension. You can request the suspension online by selecting the payment assistance alert in the mortgage section of your account or by calling 800-219-9739.

To request a short term suspension of your Home Equity payments, email Wells Fargo through the secure message center in your online account or call 800-219-9739.

Learn more about Wells Fargo’s coronavirus response, click here.

Final Thoughts

When you’re stressed and experiencing financial difficulties, it’s not always easy to ask for help. Especially credit card debt relief help. However, the banks and credit card issuers have put plans into place offering all different kinds of assistance. This guide lays out those programs and how to get into contact with the companies you use.

Here’s our complete help guide to topics related to COVID-19.  It’s packed with all the information you need to stay updated!

The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

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