The U.S. credit card payment holiday ended on October 31, 2020, and for millions of credit card consumers struggling to keep up with payments due to the pandemic-fueled lockdowns, the post-holiday outlook isn’t exactly crystal clear.
“Credit card payment holidays were extended to cardholders experiencing financial hardship as a result of the coronavirus outbreak,” said Andrea Woroch, a family finance expert at AndreaWoroch.com. “They waived payment requirements and canceled late payments during this time so you weren’t on the hook for your minimum due.”
Credit scores were protected, too, during the card payment holiday.
“The other plus was that non-payments or late payments didn’t end up on your credit file. However, with the credit card file about to expire, any non-payment will now be reported to the credit bureaus and that