Payment relief will still charge interest!
I saw this in the chase payment relief website:
1. We encourage you to keep paying if you can because we continue to charge you interest according to the terms of your accounts.
2. Promotional interest rates will expire according to their original terms.
Also, a key item to remember, be prudent in your spending, after 3 months 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.
Credit Card Terms & Conditions
You must read these terms & conditions carefully.
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.
- Please print this for your records.
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