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I may become late or delinquent on my credit card because of reduced working hours as a result of COVID-19. Will the bank charge me late fees or increase my normal interest rate to a higher penalty rate?

Your bank may consider waiving any late fees or forgoing implementation of a penalty interest rate. Contact your bank to explain your specific situation and to request a fee waiver or maintenance of your current interest rate. The Office of the Comptroller of the Currency (OCC) is encouraging banks to take steps to meet the financial service needs of customers adversely affected by COVID-19-related issues, including waiving certain fees, such as late payment fees on credit cards. Banks are not required to waive your fees or maintain your current interest rate.

Last Reviewed: April 2021

Please note: The terms "bank" and "banks" used in these answers generally refer to national banks, federal savings associations, and federal branches or agencies of foreign banking organizations that are regulated by the Office of the Comptroller of the Currency (OCC). Find out if the OCC regulates your bank. Information provided on should not be construed as legal advice or a legal opinion of the OCC.

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