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Is Your Credit Card Company Helping You During the Virus?

 

Many businesses have shut down during the coronavirus outbreak, and a lot of people are wondering how they will be able to pay their next, mortgage or credit card payments. This article will help guide you on what you can do and where you need to go to find some help. At the bottom there is a list of  most of the major credit card companies in the country with what they are doing and their contact info!

 

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Some consumers have financial concerns about emergency savings and being able to keep up with the bills.

The social distancing programs have shuttered restaurants, bars, gyms, movie theaters and other places where people like to gather. This has a lot of people wondering how they will be able to afford their next mortgage payment or even credit card payments.

For many Americans, their primary source of income has been called into question (for a period of time). Consumers are nervous because they don’t know how long it will last and how they will stay up with all there bills until they can get back to work.

Banks are stepping up to offer relief amid virus

Some credit card companies are allowing customers to skip their next monthly payment (some are willing to do more than  just one) without charging interest. These include Apple CardAmerican Express and Capital One.

The key here is without interest accruing – many other issuers are offering temporary relief like reduced minimum payments or forbearance, but interest is continuing to stack up, which can add up.

Most important part here is if you’re having trouble, contact your credit card companies and ask for help. Consider using online chat or social media, because many call centers are light staff and very busy. So while you are quarantining and watching Netflix reach out to your credit card companies and see what they will do for you. Remember if you are having trouble making the payment reach out to the creditor communicate with them and evaluate what they have to offer and always as