What to do and what to avoid as you manage credit card payments amid today's challenges.

With the ongoing crisis, many are feeling financial pressure. Credit cards can serve as vital resources for those facing monetary hardships. Financial institutions are offering new programs and guidelines to assist individuals who may be struggling to meet their obligations.

Here’s a list of actions to take and pitfalls to avoid when dealing with credit card bills.

Do reach out for temporary support from your lender

“The first step is to proactively communicate with your creditors,” advises a spokesperson from a prominent credit counseling organization. “Inquire about the assistance programs available.”

Many major credit card companies, including Capital One, Chase, Citibank, and U.S. Bank, have set up dedicated web pages providing the latest information regarding potential assistance. Eligible customers may receive fee waivers, reduced interest rates, or even forbearance options.

Don’t skip payments without confirmation

While many banks have announced intentions to assist those experiencing financial difficulties, it doesn’t grant permission to ignore payments. The common recommendation is to contact the number on the back of your card to discuss options tailored to your situation. Failing to pay without an arrangement can negatively impact your credit score. (Check out what occurs when you miss a credit card payment.)

Do request an increase in your credit limit

If you’re in need of extra financial flexibility during this time—like stocking up on essentials—consider reaching out to your lender to ask for a credit limit increase.

Don’t overspend and max out your card

While it might be tempting to stockpile supplies amidst shortages, remember: charging excessively can complicate your financial recovery, especially if you’re uncertain about future income. Maxing out your credit card can negatively influence your overall credit score, as credit utilization plays a significant role in its calculation.

Do explore balance transfer cards

If your credit is in good standing, applying for a card with a 0% APR offer could help alleviate some debt pressure. Numerous cards provide interest-free periods ranging from 12 months up to nearly two years. (Learn more about navigating 0% APR offers.)