Managing Your Money During & After the Coronavirus Pandemic
A consolidated list of resources to help you navigate the different financial effects of the COVID-19 pandemic
The health of you and your family is the most important thing during the COVID-19 pandemic. And the Centers for Disease Control and Prevention provides a coronavirus guide with guidelines for how to protect yourself and what to do if you’re sick.
But the pandemic has also added financial stress to many people’s lives. With that in mind, here’s a collection of articles from Capital One that may help you manage your finances during these times.
Emergency Preparedness & Relief
Many people are dealing with layoffs, furloughs or reduced hours as a result of the pandemic. But there are some practical things you can do to plan financially until you return to work.
This article explores eight financial steps you could consider if you’ve recently lost your job. Learn strategies about budgeting, managing bills and working with lenders. There’s also a link to counseling services that may be able to provide personalized advice as you think through your finances.
Unemployment insurance can be tricky to navigate because each state handles its own program.
Learn more about which benefits may be available and how the claims process works. Plus, you’ll find a list of links to each state’s unemployment website. They’ll help you learn more about how your state’s program works and how to apply.
If you’ve lost the health insurance you had through your job, you may qualify to enroll in new coverage.
This article covers health care marketplaces—sometimes called exchanges—where you can explore coverage options. One thing to be aware of: The period to enroll in new coverage may be limited to within 60 days after you lost your job. So it’s a good idea to act as quickly as possible.
The pandemic has highlighted the importance of preparing for the unexpected with an emergency fund.
If you don’t have an emergency fund, you’re not alone. But even during the coronavirus outbreak, there still may be opportunities to save. Everyone’s situation is different, but this article can help you figure out ways to save and when it may be the right time to dip into your emergency fund.
Whether or not you currently have health insurance, medical bills can add up quickly. It’s difficult to think about money when someone is ill, but there are resources that can help with unexpected costs.
This article helps you understand your medical bill and answers a few common questions. And there are links to many organizations that may be able to provide financial assistance.
Credit Cards & Debt
Just because social distancing guidelines are in place doesn’t mean you’re cut off from your accounts. Learn how you can go online or use the Capital One Mobile app to get 24/7 access to your accounts wherever you are, whenever you need it.
The Capital One Mobile app lets you do more than just check your balances. You can also make payments, deposit checks and monitor your credit. Plus, get purchase notifications, lock and unlock your card at any time, and more. And—if you do need to head out—find nearby ATMs and information on branch and Café closings before you leave home.
If you’re unable to pay your balance in full, making minimum payments can help you avoid penalties and fees. Learn more about minimum payments, including how they’re calculated, how interest works and what may happen if you make a late payment.
This article also has information about payment strategies and ideas about how to work with your credit card company if you can’t make your minimum payment.
Missing or forgetting credit card payments can happen to anyone. But if you’re in a position where you know you can’t make your monthly minimum payment, it can help to reach out to your credit card company first. That goes for contacting Capital One, too.
Credit card companies work every day with customers who can’t pay their bills. Learn more about what happens if you’re unable to pay your credit card bills and what options may be available to help.
Fraud & Privacy
Keeping your credit card secure is always a good idea, especially now that you might be using it more often for essential items and online purchases.
Learn more about Capital One’s digital security features in this article. It covers things like fraud alerts, instant purchase notifications, liability coverage, Card Lock and Eno, your Capital One assistant. You can access those features and more by adding the Capital One Mobile app to your phone or by signing in to your account online.
If your credit card is lost or stolen or you’re a victim of identity theft, it’s important to know how to respond. Acting quickly and knowing the proper steps could make all the difference.
This article walks you through the process of recognizing and reporting fraud. You’ll also learn best practices to help protect yourself and your credit card account.
Scammers are in high gear right now, using the pandemic to find new ways of committing fraud. At this point, it’s cost Americans tens of millions of dollars.
Find out about seven different scams happening right now, along with tips to help protect yourself. This is also a great resource to share with family members who might not be as familiar with online fraud.
Part of keeping your accounts secure is being aware of potential scams, especially since some scammers are trying to use COVID-19 as an opportunity to target people.
There are ways to spot these scams and not get tricked, though. Capital One’s head of U.S. credit card fraud, Sarah Strauss, gives you five tips to help you protect yourself.
Phishing is one way fraudsters try to gain access to your personal information. Phishing can occur when scammers pose as representatives from places like banks and utility companies or anyone else you might trust with your personal information.
Learn ways to protect yourself and how to respond if you think you’re a victim of a phishing scam.
During times of uncertainty, scammers often try to take advantage of confusion to defraud others. The current situation is a perfect example.
This article focuses on paper check fraud, especially when it comes to stimulus payments. Read about warnings from the IRS and the Federal Trade Commission. And learn more about what you can do to keep your money and personal information secure.
Work, Travel & Entertainment Disruptions
The job market is rapidly changing. And while COVID-19 has impacted many industries, there are still companies out there that are hiring.
Hear from Paul Taylor, the president of ettain group, a talent and recruiting firm. Taylor shares which industries may offer the best opportunities right now and why. And he even has some tips on networking and brushing up your online resume.
Working from home has become the new normal for many people. And it can take some time to adjust, especially if you’re telecommuting for the first time. But as you get used to virtual meetings, there’s also the potential to save money.
This article explores a few ways you may be able to cut costs while working remotely. Your home-brewed coffee may not be quite the same as what you can get from your favorite coffee shop. But cutting back could leave you with more money to set aside for a rainy day.
COVID-19 has disrupted plans for everyone. Your beach vacation may have to wait, and that family reunion a few states away is probably on hold. If you booked your plans through Capital One Travel, you may be able to avoid long waits on the phone by cancelling or changing travel plans online.
The situation with COVID-19 is evolving quickly. So this article also provides links to most major airlines to help you keep up with their latest policies.
Travel isn’t the only thing the coronavirus has disrupted. Restrictions on large gatherings have also affected concerts, shows and sporting events.
This article has information about asking for refunds. Learn what options may be available to you—and why working directly with merchants could be your best bet. There’s also a section that covers hotels and short-term rentals.
Government and private relief efforts vary by location and may have changed since this article was published. Consult a financial adviser or the relevant government agencies and private lenders for the most current information.
We hope you found this helpful. Our content is not intended to provide legal, investment or financial advice or to indicate that a particular Capital One product or service is available or right for you. For specific advice about your unique circumstances, consider talking with a qualified professional.