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Eviction Freeze Guide (COVID-19 Rent Relief)

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As the impact of the COVID-19 crisis continues to be felt around the country, government agencies are taking steps to prevent renters and homeowners from being evicted. A patchwork of federal, state and local programs have been introduced to help shield those who have lost income from also losing their homes. However, the programs are complex and vary depending on your location. We put together this Covid-19 eviction freeze guide to help you learn about coronavirus rent relief programs in your area.

coronavirus-rent-relief

Coronavirus Rent Relief – Federal Level

On the federal level (meaning nationwide in the USA), there is one program that helps shield some renters from eviction.

As part of the CARES Act, the $2 trillion coronavirus stimulus package, renters in certain federally-backed homes are protected from eviction for 120 days.

However, this provision only applies to:

  • Housing with federally-backed mortgage loans
  • Housing covered by the rural housing voucher program
  • Housing covered under section 41411 of the Violence Against Women Act of 1994

Renters in housing in one of the categories above are restricted from eviction until July 25, 2020. Additionally, landlords are restricted from charging late fees or other penalties.

Keep in mind that this legislation does not mean that you don’t need to pay rent – it just means that your landlord cannot evict you for nonpayment until the summer. Additionally, this program only applies to certain homes, so it’s not going to cover all renters.

 

Eviction Freezes and Rent Assistance – State Level

Various states have introduced legislation and executive orders to shield renters from eviction. For the most up-to-date information, we recommend researching regulations in your specific area. For now, here’s an overview of states with some sort of eviction moratorium in place, as of the date of this article’s publication.

Arizona

Arizona’s governor passed an executive order that delays evictions for renters affected by COVID-19, for up to 120 days from March 24th. Renters will still owe rent payments, but they cannot be evicted for financial reasons for the next several months.

California

California’s governor passed an executive order that allows local governments (county/city) to pause evictions for renters. The legislation is active through May 31st, 2020, but will likely be extended. There is no state-wide eviction freeze, but many local governments have implemented their own programs in response to this statewide executive order.

Hawaii

Hawaii’s governor has issued an executive order preventing evictions through at least April 30, 2020.

Indiana

Indiana’s governor has issued an executive order that pauses evictions until the State of Emergency order is lifted.

Iowa

Iowa’s governor has enacted a temporary suspension of certain evictions, and has also paused foreclosure proceedings.

Kansas

Kansas’ governor has issued an executive order which orders financial institutions to pause residential and business evictions until May 1st.

Kentucky

Kentucky’s governor has recently paused eviction cases.

Louisiana

Louisiana’s governor has suspended all foreclosures and evictions.

Maine

Maine’s governor has issued an executive order banning immediate evictions for nonpayment.

Maryland

Maryland’s governor has instructed local courts to prevent evictions for any tenants who can prove that their failure to pay is directly related to the Covid-19 outbreak. The order is in effect until the State of Emergency is lifted.

Massachusetts

The Massachusetts legislature has issued an emergency declaration that prevents sheriffs from carrying out evictions.

Michigan

Michigan’s governor passed an executive order that prevents evictions, however, the order expired on April 17th.

New Hampshire

New Hampshire’s governor has issued an executive order delaying eviction proceedings for tenants experiencing financial difficulty due to the Covid-19 outbreak.

New Jersey

New Jersey’s governor has issued an executive order pausing foreclosures and evictions for 60 days (from March 19th).

New York

New York’s governor has announced a three-month suspension of all evictions, both residential and commercial. For homeowners who are unemployed, the state has also suspended mortgage payments for 90 days.

Oregon

Oregon’s governor has issued an executive order implementing a 90-day eviction moratorium, starting on March 22nd.

Washington

Washington’s governor has suspended evictions through June 4th, and implemented some other protections for renters.

Wisconsin

Wisconsin’s governor has issued an executive order that prevents landlords from terminating tenancy for failure to pay. The order is good for 60 days from March 27th.

If your state is not on the list above, there is likely no state-wide eviction freeze in place. However, there may still be local programs on the county and city level. And remember, government response to this crisis is changing very fast, so we encourage readers to research laws in their specific areas, and keep an eye on local news.

 

What to Do If You Can’t Pay Rent

If you are facing financial difficulty due to the coronavirus outbreak and are struggling to pay rent, here is what we’d recommend doing:

  1. Read through your lease agreement and understand your responsibilities and rights. Pay attention to any mention of fees, due dates, the eviction process, etc.
  2. Contact your landlord and explain the situation. There are many reports of landlords being flexible with due dates, late fees, etc. as a result of the extraordinary circumstances we are all facing right now.
  3. Research & verify rent relief and eviction protection programs in your state, county and city. There are a huge number of local programs at almost every level of government. It’s important to understand the rules and programs available in your specific area.
  4. If you’ve lost your job, apply for unemployment insurance through your state agency. The federal government is currently supplementing unemployment payments, so you may get more money than what your state offers.

Not being able to pay rent can be a very stressful experience. Fortunately, many governments have implemented policies to help protect renters. It’s just a matter of finding the programs, and being aware of your rights as a tenant.

 

Other Resources

In addition to local rent freezes and eviction moratoriums, there are a huge number of resources that Americans can take advantage of during this time of crisis. Some key options are listed below.

 

Housing Support from Fannie Mae

Fannie Mae, a federal mortgage provider and backer, has put together a helpful guide for renters affected by the Covid-19 outbreak. They also offer various free services to help affected renters get through this crisis. The Disaster Response Program from Fannie Mae can help connect you with advisors that can assist with:

  • Personalized plans to help you whether the storm financially
  • Help figuring out your housing situation
  • Budgeting advice and financial coaching
  • Ongoing check-ins with an advisor
  • Online tools and more

This service does not provide financial assistance. Instead, it aims to provide helpful advice and resources to help renters get through this crisis. The program is available for free, and can be reached by calling 877-542-9273

 

Support from Financial Institutions

If you are facing financial hardship, a good place to start is to contact your bank. Many banks are being flexible with loan payments, interest, and late fees. Hopefully your bank can work with you to help ease some of the financial burden you are facing.

Many smaller banks and credit unions have been more proactive in attempting to help their customers through these challenging times – and even some of the larger banks are also waiving fees.

 

Government Stimulus

The US federal government has responded to the coronavirus crisis with an unprecedented stimulus package. This includes Stimulus checks being sent to most Americans (up to $1,200 per person), as well as expanded unemployment benefits and more.

This guide does a good job of explaining the entire bill and how you can take advantage of its protections for American citizens.

 

Friends & Family

Lastly, remember that we are all in this together. If you are struggling to meet your financial obligations, you may be able to get help from friends or family. Sites like GoFundMe allow you to collect donations from your friends, and if you feel comfortable with it, you can simply reach out directly to those who may be able to help.

 

IRS.gov/coronavirus: How to Track your Stimulus Check (COVID-19)

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www.irs.gov/coronavirus

As part of their efforts to shore up the economy during the ongoing Covid-19 outbreak, the US Federal Government has began a plan to send $1,200 checks (or digital deposits) to most Americans. As the payments start to show up, many people are wondering how to check the status of their stimulus check.

Fortunately, the IRS has built a new online status checker for the 2020 stimulus check:

www.irs.gov/coronavirus/

 

Using this new online tool, you can check your eligibility for the stimulus check, and also verify it’s status. You can see whether the payment has been issued, it’s still being processed, or if there is an issue.

read later: H&R Block Emerald Prepaid Mastercard

 

Due to extremely high call volume, the IRS is encouraging people to use the IRS.gov/coronavirus online tool, instead of calling in.

 

irs.gov/coronavirus

 

How Can I Check on My Stimulus Check?

You can check the status of your payment by going to https://www.irs.gov/coronavirus/

This online tool allows you to check your eligibility, check the status of your payment, update your payment information on file with the IRS, and more. It’s also where non tax-filers should go to manually apply for the stimulus payment.

Due to high call volume, the IRS is asking Americans to use the online tool instead of calling in.

 

When Will I Get My Stimulus Check?

The IRS started sending out payments this week, around April 15th. According to a report from the Washington Post, approximately 80 million payments have been sent as of this article’s publication date. The IRS expects to send out approximately 150 million payments, meaning roughly half of all stimulus payments have already been sent. Keep in mind that some banks may hold the funds for a few days, so if you haven’t got yours yet

The IRS will continue issuing digital payments, until they have reached all eligible Americans. If you haven’t got your check yet, the IRS is encouraging you to use the IRS.gov/coronavirus online tool.

For Americans who do not have direct-deposit bank account information on file with the IRS, payments could be delayed. Taxpayers can manually submit their bank account info here, or wait for a physical check to be mailed. Reports indicate that physical checks may take weeks or months to arrive.

 

How Will I Get My Stimulus Check?

If you are a taxpayer who already has direct deposit information on file with the IRS, you will receive the stimulus payment as a digital direct deposit. The IRS has already started sending out these digital payments, so yours should arrive soon.

If you do not have direct deposit information on file, you’ll need to manually submit it online – or, wait for a physical check to be mailed.

The IRS will use the information on file from your last tax return. This includes your reported income, your address and your bank account information. If anything has changed (if you moved, for example), you should update your information as soon as possible.

 

Who is Eligible for the Stimulus Check?

Most Americans are automatically eligible for the $1,200 stimulus check. The main eligibility requirement is income.

Individuals making up to $75,000 per year, or couples making $150,000 per year, will receive the full payout of $1,200 per adult (with an extra $500 per child).

Individuals making between $75,000 and $99,000, and married couples making between $150,000 and $198,000, will receive a reduced payment.

Anyone making more than these income limits will not receive a check.

Keep in mind that the income is based on your last filed tax return. If you’ve already filed 2019 taxes, the income from 2019 will be used. If you have not yet filed, your 2018 tax return information will be used instead.

If you do not file taxes, you must manually apply for the IRS Stimulus Check. Learn more here.

You can check full eligibility details here.

 

American Express Cashback Rewards Program (Ultimate Guide and Extensive Review)

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American Express is one of the largest banks and credit card issuers in the United States. They offer a wide range of credit cards, charge cards, banking products, loans and more. On the credit card side, there are basically three categories of American Express cards:

  • American Express Membership Rewards cards, which earn points
  • American Express Co-Branded cards, which earn miles or points with partners like Delta Airlines
  • American Express Cashback cards, which earn straight cash back (in the form of Rewards Dollars)

This article will take a look at AMEX Cashback credit cards. We’ve put together a full American Express Cashback Rewards program review, to show you everything you need to know about this lucrative rewards program.

 

American Express Cashback Program Review

American Express has its Cashback Rewards Program on three different credit cards. All of these cards earn cashback on each purchase you make. You will accrue cashback in your account in “Reward Dollars”, until you reach $25, at which point you can redeem the Reward Dollars for a statement credit. A statement credit will be applied to your next bill, lowering the amount you owe. So if you have $200 in charges on your credit card bill, and you redeem $25 in cashback, you will only owe $175.

Keep in mind that there is a $25 minimum before you can redeem your rewards. You will accrue Reward Dollars in your account from day one, but you can’t actually redeem them until you have at least $25 built up.

The Cashback cards from AMEX are marketed as earning “cash back”, but really they earn Rewards Dollars. These Rewards Dollars can be redeemed for statement credits, or for a variety of gift cards, products and more.

Let’s look at some of the credit cards that earn these Reward Dollars, then we’ll move on to to more information about how the rewards program works.

 

American Express Cashback Credit Cards

American Express Cashback Credit Cards

There are three different cards in the American Express Cashback Rewards Program:

  • Cash Magnet (no annual fee)
  • Blue Cash Preferred ($95 annual fee)
  • Blue Cash Everyday (no annual fee)

These three cards are all part of the same program. They all earn Rewards Dollars, which can be redeemed for statement credits. However, there are some differences between the cards.

 

Amex Cash Magnet

American Express Cash MagnetAnnual Fee: $0
Cashback Rate: 1.5% on all purchases
Signup Bonus: $150 bonus cashback after spending $1000 in the first 3 months
Intro APR: 0% intro APR on purchases and balance transfers for the first 15 months

The American Express Cash Magnet card is a simple cashback card that earns 1.5% cashback on all purchases. There are no complicated bonus categories or special restrictions to think about, making this a good choice for those who like to keep things simple.

The Cash Magnet has no annual fee, and comes with a $150 signup bonus after you spend $1,000 on the card in the first 90 days. There’s also a lucrative intro APR offer, where you can pay 0% interest for the first 15 months. This promo applies to both new purchases and balance transfers from other credit cards, so if you have existing credit card debt, this promo can be used to save a good bit of money on interest over the next 15 months.

Rewards-wise, this card is solid. 1.5% cashback is a good rate for a card with no annual fee. With that said, if you’re looking to maximize your rewards as much as possible, going with one of the Blue Cash cards may be a better option.

 

Amex Blue Cash Preferred

Blue Cash Preferred

Annual Fee: $95
Cashback Rate: 6% on supermarkets and streaming services, 3% on gas and transit, 1% on everything else
Signup Bonus: $300 bonus cashback after spending $1,000 in the first 3 months
Intro APR: 0% intro APR for the first 12 months, on purchases and balance transfers

The American Express Blue Cash Preferred is another great credit card from AMEX. This one does have an annual fee, of $95 per year. However, for many households, the increased earning rate on the card will more than offset the extra annual fee.

The Blue Cash Preferred has a tiered earning structure:

  • 6% cashback on US supermarkets (capped at $6,000 per year in purchases)
  • 6% cashback on select US streaming services
  • 3% cashback on US gas stations
  • 3% cashback on select US transit, including ridesharing, parking, tolls, etc.
  • 1% cashback on everything else

The biggest selling point of this card is the 6% back at grocery stores. If you spend $500 per month on groceries, you will max out the benefit and earn $360 in cashback per year! Obviously this more than makes up for the $95 annual fee – and that’s before any of the other benefits of this card.

We recommend the Blue Cash Preferred for those who want to maximize their rewards earnings, and who don’t mind a bit more of a complicated earning structure. For simplicity, a card like the Cash Magnet may work better. And for those who want to earn more on groceries but don’t want an annual fee, the Blue Cash Everyday(see below) is a great option as well.

 

Amex Blue Cash Everyday

Blue Cash Everyday

Annual Fee: $0
Cashback Rate: 3% cashback on supermarkets, 2% cashback on gas & department stores, 1% on everything else
Signup Bonus: $200 bonus cashback after spending $1,000 in the first 3 months
Intro APR: 0% intro APR for 15 months on purchases and balance transfers

The American Express Blue Cash Everyday is a good option for those who don’t want to pay the annual fee of the Preferred version of the card. Like the Preferred, it has a tiered rewards structure:

  • 3% cashback on US supermarkets (capped at $6,000 in purchases per year)
  • 2% cashback on US gas stations and select US department stores
  • 1% cashback on all other purchases

Like the Preferred, the Everyday’s main selling point is the bonus earnings on grocery store spend. But of course, this card earns 3% instead of 6%, in exchange for having no annual fee.

The choice between this version and the Preferred version mostly comes down to how much you typically spend on groceries. If you spend a lot, the Preferred makes more sense as you will earn enough to more than offset the annual fee. If you’re in a smaller household that spends less on groceries, the Everyday makes more financial sense.

 

Earning Amex Cashback Rewards (“Reward Dollars”)

earning amex cashback rewards

Earning Rewards Dollars is straightforward. Every purchase you make on your credit card will earn Rewards Dollars. The rate at which you earn will depend on which card you have, as well as the category of purchase.

When you look at your credit card statements or your American Express online account, you’ll be able to track how many Reward Dollars you have accumulated, as well as how much you earned on each transaction.

In addition to making purchases on your credit card, you can also earn Rewards Dollars by referring friends. The promotions vary, but often you can earn $50-$100 in bonus rewards if you refer a friend who applies for a new American Express card.

 

Redeeming Amex Cashback Rewards (“Reward Dollars”)

Redeem Amex Reward Dollars

All three of the cards listed above earn the same type of rewards: American Express “Reward Dollars”. Once you accumulate $25 in Rewards Dollars, you can redeem them for a variety of rewards:

  • Cash back, in the form of a statement credit. This is often the best option
  • Gift cards to hundreds of retailers, restaurants and more.
  • Select merchandise from the Amex online reward store

In most cases, it makes the most sense to simply redeem for a statement credit. This allows you to get exactly what you want with your rewards. For example, if you want to splurge on a nice meal out, you can go to a fancy restaurant. If you spend $100, you can then go in and redeem your Rewards Dollars for a statement credit, reducing the amount you owe American Express for dinner.

 

American Express Cashback vs. Membership Rewards

American Express has two primary rewards programs: its Cashback program, discussed here, and the Membership Rewards program.

We’ve already learned all about the Amex Cashback Rewards program – but how does it compare to Membership Rewards?

Well, Membership Rewards is a bit more complicated, but we’ll try to summarize it as best as possible.

Many American Express cards earn Membership Rewards points (MR). These points can be redeemed for a huge variety of rewards, including travel, gift cards, exclusive experiences, and cashback.

Generally speaking, the best use of MR points is travel. You will typically get the best value for your points by redeeming them for flights or hotels, or by transferring them to partners like airlines and hotel chains.

Membership Rewards points are less useful for cashback. While they can be redeemed for statement credits on some cards, the rates given are often poor.

So, in general, we recommend:

  • The Membership Rewards program is best for people who like to travel, and those who like premium credit card perks (often with higher annual fees)
  • The Cashback Rewards program is best for people who like to keep things simple, while maximizing cashback on every purchase

 

Amex Cashback Rewards Review: Wrapping Up

So, to sum up, how good is the AMEX Cashback Program?

In short, it’s pretty great! This program offers an easy way to rack up lots of rewards that can be redeemed for statement credits, saving you a good amount of money in the long run.

Pros:

  • Three cards to choose from
  • Multiple cards with no annual fee
  • Generous rewards rates
  • Easy to redeem for cashback
  • Cashback in the form of statement credits can be used for just about anything

Cons:

  • You can only redeem rewards in increments of $25
  • There are no travel redemption options

We love the Cashback program for its simplicity and competitive earning rates. And particularly with cards like the Blue Cash Preferred earning 6% on groceries, it’s staggering how quickly you can stack up the rewards.

How do you like the American Express Cashback Rewards Program? Let us know in the comments below!

Best Chase Credit Cards 2020: Chase Credit Card Comparison

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Chase is a massive bank with a diversified selection of products and services. Their business is broad, but a core focus for JPMorgan Chase has always been consumer credit products. They offer some fantastic credit cards, ranging from premium rewards cards to basic cards for students. Let’s take a look at the best Chase credit cards in the guide below!

best Chase credit card

Chase is actually the largest bank in the US by assets. Their sheer size allows them to offer some of the best credit cards on the market. They have many different products, so to find the best Chase credit card for you, it’s important to consider the specific type of card you’re looking for.

We’ve broken this list down into categories, to help you find the best credit card from Chase that works for your needs and desires.

 

Best Chase Credit Card for Travel: Sapphire Reserve

Chase Sapphire Reserve

Annual Fee: $550 (comes with significant perks)
Credit Needed: Excellent
Signup Bonus: 50,000 miles after spending $4,000 in 3 months (worth $750 towards travel)
Rewards: 3x points on travel and dining; 1x points on all other purchases
Perks: $300 annual travel credit, airport lounge access, travel & purchase protection, much more

The Chase Sapphire Reserve is a premium credit card, and without a doubt the best Chase card for travelers. First and foremost, let’s talk about that whoppin’ $550 annual fee…

Although the annual fee is high, the card comes with a $300 annual travel credit that’s good for any sort of travel – even just parking. Since you should be able to easily use this credit every year, it basically lowers the effective annual fee to about $250 a year. Which is still a high fee for a credit card. If you’re a frequent traveler, this card is a great money tool for international travel and can definitely save you money in the long run. But if you’re not a traveler, this card is definitely not for you.

The card has a goldmine of perks for frequent travelers: airport lounge access via Priority Pass, 3x points on travel and dining worldwide, 50% bonus on travel redemption values, Global Entry fee credit, and MUCH more. Points on this card are quite valuable – worth a minimum of 1.5 cents per point when redeemed for travel. So, that 50,000 point signup bonus is equivalent to a $750 plane ticket – and the 3x points on travel and dining actually means more like 4.5% back in travel credits (making it one of the best credit cards for restaurants).

Note: If the high annual fee doesn’t make sense for your needs, the Chase Sapphire Preferred is still a great card, with a much more reasonable $95 fee. Also, keep in mind that Chase is currently offering a $100 discount on the Reserve’s annual fee, due to the ongoing COVID-19 outbreak. We do not know how long this will last, however.

 

Best Chase Credit Card for Cashback: Freedom Unlimited

Chase Freedom Unlimited

Annual Fee: None
Credit Needed: Good
Signup Bonus: $200 after spending $500 in the first 3 months
Rewards: 1.5% cashback on all purchases
Perks: 0% intro APR for 15 months; purchase protection; extended warranty protection

The Chase Freedom Unlimited is the best cashback credit card from Chase. It’s a simple but great card and useful for an “everyday carry”. It has no annual fee and earns a flat 1.5% cashback on ALL purchases, with no cap. There’s even a $150 signup bonus, which is rare for a no-annual-fee card.

We ranked the Freedom Unlimited as one of the best no-fee credit cards for everyday use. It certainly doesn’t have as many bells and whistles as the premium Sapphire cards – but it also doesn’t have an annual fee! If you’re looking for a simple, flat-rate option, this is a great way to go.

Plus, keep in mind that this card actually earns Chase Ultimate Rewards points. While these points can be redeemed for cash back, you can also use them for travel expenses, which often results in a better deal overall.

Note: The original Chase Freedom is another good, similar option to consider.

 

Best Chase Credit Card for Low Credit: Slate

Chase Slate

Annual Fee: None
Credit Needed: Average
Signup Bonus: None
Rewards: None
Perks: 0% intro APR for 15 months; $0 balance transfer fee for first 60 days; free FICO score

The Chase Slate is a much easier card to get approved for than the others on this list. It’s also great for people with existing credit card debt who are looking to save money on interest, and/or simplify their finances.

When you sign up for Slate, you’ll get a 0% intro APR for the first 15 months. This applies to purchase and balance transfers. And for the first 60 days, you can transfer over balances from other credit cards for no fee – and still enjoy the 0% APR. So, if handled right, this card could save you some significant money on interest. After the initial promo offer, there is a 5% balance transfer fee.

With that said, there’s no signup bonus, no cashback rewards, and no significant perks. Still, the initial low APR and relative ease of getting this card make it a solid choice. This is probably the best Chase credit card for students, as well, as they have no specific card targeted at students.

 

Things to Know About Chase Credit Cards

  • If you have lots of credit cards, you should be aware of the Chase 5/24 rule before applying for a new card. The rule essentially states that you won’t be approved for a new Chase card if you have opened 5 or more credit cards in the last 24 months.
  • Many Chase cards are somewhat difficult to get approved for if you don’t have great credit. If you get denied, find out what to do in this guide.
  • Some of the best Chase credit cards have large minimum spending requirements – check here for easy ways to meet minimum spend.
  • Chase has many other great credit cards that aren’t listed here – like the Marriott Premier Plus, United MileagePlus Explorer, and Ink Business Preferred, just to name a few! See all Chase credit cards right here

 

Intro to Chase Ultimate Rewards

Chase has their own rewards program, called Ultimate Rewards. Many of their credit cards, including the Freedom, Freedom Unlimited, Sapphire Preferred and Sapphire Reserve, all earn Ultimate Rewards points.

Ultimate Rewards Points are a flexible rewards currency that can be used for a wide variety of rewards. Here are some of the most common uses:

  • Redeem for flights through the Chase travel portal
  • Transfer to travel partners, converting your points into airline miles
  • Redeem for gift cards to one of 150+ retailers and restaurants
  • Shop for Apple products using your reward points
  • Convert to cash back, in the form of a statement credit or a bank transfer
  • Enjoy exclusive experiences and activities
  • Shop with points directly on Amazon.com
  • And much more!

Generally speaking, you will get the most bang for your buck by using Ultimate Rewards for travel expenses. With that said, there are tons of great uses for non travelers, as well. Personally, I usually use my Ultimate Rewards points for flights, both through Chase’s travel portal, and by transferring to partners like United Airlines. How do YOU use your Ultimate Rewards points?

 

What is YOUR favorite Chase credit card? Let us know in the comments!