Hurricane Irene displaced tens of thousands of consumers and put many in danger of being unable to handle their finances properly. As a result, many lenders are allowing victims to make late payments into their credit card debt with no penalty.
Chase recently announced that it would waive fees for all credit card and banking customers in 13 states up and down the eastern seaboard through Sunday, September 4, according to a report from the Associated Press. This includes credit card due dates, and fees it would charge to banking customers for using out-of-network ATMs or overdrawing their accounts.
Other major credit card lenders, such as Bank of America, Capital One, Citi and PNC, will also waive fees and credit card penalties, but on a case-by-case basis rather than across the board, the report said. Customers facing hardships as a result of the storm should contact their local bank branches to find out if they can receive any such assistance.
One way the banks say they may be able to help affected consumers is by lowering their interest rate temporarily, which may make it easier for them to get out of debt.