Wells Fargo is helping personal and small business cardholders who have been negatively affected by the COVID-19 pandemic by offering new policies. The financial institute is giving consumers up to three months to defer payments and will waive interest during the period. In addition, any annual fees will also be waived during the time period. These deferments will not affect promotional rate credit cards and cardholders can continue making purchases with the card if the account is in good standing.
Is it worth noting, these programs may not be offered to customers who are already using a COVID-19 relief deferment, customers in a different hardship plan with the same account, customers who have settled a debt with the account and are repaying the balance, or customers with accounts that have been charged-off.
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