The Chase Freedom® is not currently available to new cardholders. Please visit our list of the best cash-back cards for alternative options.
In March, many of the major credit card issuers began offering support to the millions of cardholders experiencing financial hardship as a result of the coronavirus pandemic.
Nearly five months later, and Americans are still struggling. The additional $600 per week unemployment benefits expired on July 31, while unemployment remains high. And Congress has yet to pass another stimulus package. Without additional federal support, many people are wondering how they will afford their bills going forward.
Card issuers are continuing to offer financial assistance programs for those are still struggling to pay their credit card bills, whether you have a Chase Freedom®, a Capital One Walmart Rewards® Mastercard® or another card backed by a major financial institution.
To see what relief measures you qualify for, contact your card issuer as soon as possible by calling the number on the back of your card or by visiting their website. Most issuers have since set up dedicated webpages detailing coronavirus response efforts. Don't wait until you've missed a payment to take action.
CNBC Select reached out to seven of the major card issuers to get an update on their coronavirus financial hardship assistance programs, and we've outlined their responses below. Both Bank of America and U.S. Bank did not respond to our request for comment.
American Express
Amex recommends that their customers review the Financial Relief Program, which offers both short- and long-term assistance. Cardholders can request temporary lower monthly payments and reduced interest rates. Amex is also providing relief from future late payment fees and helping cardmembers take steps to prevent accounts from going past due or further past due.
Capital One
Capital One's assistance includes deferred payments and reduced or waived annual fees. The bank is also temporarily waiving ATM fees and doubling ATM withdrawal limits for all banking customers. Options are available to customers on a month-to-month basis. Visit Capitalone.com/Updates/Coronavirus/ to learn more.
Chase
Chase credit card customers may be able to delay their monthly payment, and the bank will also refund any associated late fees. Visit Chase.com/StayConnected to learn more.
Citi
A Citi spokesperson tells CNBC Select that they have extended their assistance programs for those impacted by Covid-19 until August 15 and will continue to assess. Visit the coronavirus webpage to learn more.
Wells Fargo
Wells Fargo is still offering payment assistance and recommends that customers visit the coronavirus response webpage to learn more.
Learn more: CNBC Select's most up-to-date list of credit card financial assistance programs during coronavirus
Information about the Chase Freedom® and Capital One Walmart Rewards® Mastercard® has been collected independently by CNBC and has not been reviewed or provided by the issuer of the card prior to publication.