What will happen if you miss a credit card payment?

+1 vote
asked Mar 15, 2018 in Credit by eliza jay (330 points)
What will happen if you miss a credit card payment?

1 Answer

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answered Mar 15, 2018 by Adf289 (58,200 points)
When you miss a credit card payment you'll be charged with a late fee. Some credit card companies charge a late fee as high $30.00 each time you're late on your credit card payment.

Those late fees can add up making it even harder to pay off your credit card.

You'll also notice a ding on your credit report since the credit card company will report the missed credit card payment to the credit bureau's.

If you miss too many credit card payments then you also risk having your credit card account closed and your credit card deactivated which will hurt your credit score even more.

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