To help its cardholders during the financial hardships prompted by the COVID-19 pandemic, Discover is offering a 'Skip-a-Pay' payment plan that allows its customers to defer at least two consecutive payments on their personal credit cards. The initiative ensures that all late payment fees will be waived during the deferment, however, interest will continue to accumulate. Credit limits will not be reduced and cardholders can continue to use their card to make purchases.
To make inquires about the Skip-a-Pay payment plan, consumers are encouraged to call the provider, use their banking apps, or use the online chat function while logged into their accounts.
As more global consumers are affected by the pandemic, we can expect to see other issuers provide similar assistance.
Image Credit: Shutterstock, Discover