Chase, Citi, Capital One Offering Deferred Payments, Waived Fees, Increased Credit Limits During Coronavirus Outbreak

Chase (JPM), Citi (C), and Capital One (COF) are just some of the credit card companies offering financial assistance to those affected by the coronavirus pandemic.

The credit card issuers, in some cases, are offering deferred payments, waiving fees, and increasing credit limits for cardholders. Credit card companies are encouraging people that are financially burdened by COVID-19 to call their customer support line for payment options.

A Chase spokesperson told CNBC Select, "When customers call us with financial challenges related to coronavirus, our customer service specialists have been helping them with things like waiving fees, extending payment due dates for cards, auto loans and mortgages, or increasing credit lines for consumer and small business customers."

Chase Consumer Banking CEO Thasunda Brown Duckett said on the company’s website, "If you need help because of COVID-19, please reach out to us." Chase announced on Thursday that it was closing 1,000 bank branches during the coronavirus outbreak, in addition to making changes to its hours and operations.

Chase is not alone in offering financial assistance to customers, as Citi, said on its website that it is monitoring the situation and is offering options such as waived fees, hardship programs, and additional small business support.

"This is a rapidly evolving situation and we want our customers to know we are here to provide assistance should they need it,” Anand Selva, CEO at Citi's U.S. Consumer Bank, said in a message on the company’s website. "We continue to monitor developments closely and will evaluate additional actions to support our clients and communities as needs arise."

Capital One is also offering financial assistance to consumers, saying that "We also understand that there may be instances where customers find themselves facing financial difficulties. Capital One is here to help, and we encourage customers who may be impacted or need assistance to reach out to discuss and find a solution for you."

Shares of JPMorgan Chase stock was down 3.60% as of 10:41 a.m. EDT on Monday while shares of Citi stock were down 3.65% at the same time. Shares of Capital One stock were down 1.69% also at the same time.