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COVID 19 Bank Relief – How Credit Card users can benefit

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This is our first major post since the COVID-19 pandemic stroke. The reasons for these are quite simple.

Up until recently nobody could really predict Wall Street or the financial market and banking activities.

covid 19

COVID-19 Age and Credit Cards

Therefore it was not ideal to issue advice and guidance when we don’t even know the stand of these corporations and how the pandemic really affected them.

However, much more recent, a lot of financial institutions have inculcated different relief packages to there customers.

One thing that you should know about the covid-19 pandemic and how it affect the financial market is this:

  • Yes this is a global pandemic but most financial institutions will not want to make loss.
  • Covid-19 affects both small and medium including multinational businesses.
  • The struggle is real and therefore every help a card user can get we’ll definitely go a long way in releasing the body already created.

Where do we go from here and how does this even affect all card users.

Companies offering COVID 19 reliefs

There are some credit card companies that are offering some relief on payment structure, while others decide to waive charges.

Below are list of banks that are currently engaging in one relief package or the other for their customers.

  • Ally – Waivers and Loan Deferrals
  • Capital One – Suppression of fees, Deferrals and Payment assistance
  • BBVA USA – Waivers and Extensions
  • Bank of America – Payment Extension and Deferrals
  • BCU – Emergency Loan Payment assistance
  • Chase – Guidelines and SME information to aid posterity
  • Citi – Deferrals, up to 2-month waivers for SME, etc.

What Next after Covid 19

There might be other financial institutions and corporations that might offer you some financial services. This could be in the form of loans, bailout and deferrals.

Yes, these are hard times we find ourselves in and money definitely is a necessity during this period.

I would like to however advise you to not overload yourself with loans and debts and these times will pass and the debts and loans must be paid.

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