Chase Now Lets You Defer Credit Card Payments Online

Chase Now Lets You Defer Credit Card Payments Online

Credit card issuers are offering relief program designed to help customers who have been impacted by the coronavirus pandemic. If you lost your job or part of your income, the you should be looking for these programs not just from banks but also insurance companies, mortgage etc.

Now Chase is making it easier to request to defer your credit card payments. You can do this online, instead of calling in or having to talk to representatives through messages. You can defer payments for three months.

This is not something that you should if you are able to continue paying your credit card. You can delay three monthly payments, but you will continue to accrue interest on unpaid balances. With high interest rates on credit cards, this will add significant amounts to your totals. The enrollment page also specifies that you can only request this payment deferral once per credit card account.

If you defer Chase credit card payments, make sure to stop automatic payments that you have set up for any accounts. By requesting a payment deferral those payments will not be stopped. Pause them for three months.

Request payment deferral here.

Defer Chase Credit Card Payments

Here’s how this relief program will work once you are enrolled:

• You can delay 3 monthly payments.
• This program does not change how you can use your card, including your ability to make purchases.
• We encourage you to keep paying if you can because we will still charge you interest, according to the terms of your account, and add it to your unpaid balance.
• Going forward, we will refund any associated late fees we charge.
• If you are unable to pay, please stop any automatic or scheduled payments, including from any non-Chase accounts.
• Your statements will show you have no minimum payment due. They also will show all your account activity, including transactions, outstanding balance, interest, fees and refunds.
• Once this program ends, you will need to resume making the minimum payment due, according to your account terms. This will include any past-due payments that existed at the time we granted you this relief.
• We won’t report negative information to the credit reporting agencies from your participation in this program. This doesn’t change any previously reported information, including delinquencies.
• Promotional interest rates will expire according to their original terms.

Conclusion

Makes sense to make these services available online, as phone lines are overloaded. Even secure messages take long nowadays. This option could help people in need for the next three months, even though you get charged interest. Again, don’t do this if you are able to pay you cards off every month.

Disclosure: Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.

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