Here’s what happens when you delay paying your credit card bill (the not-so-heavy effects)
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Here’s what happens when you delay paying your credit card bill (the not-so-heavy effects)

Rupali Amin

Table of Contents

Look, we don’t mean to scare you but the day you delay or stop paying for your credit card bill, everything that has to do with money will start to look a little difficult. Like most things in life, not paying your credit card bill might hit you in two ways: soft and hard.

Let’s start with the soft ones so that you’re warmed up for the hard-hitting ones.

Saying bye to those movie tickets and flight lounge access dreams

This would be your “damn-I-wish-I-thought-this-through” moment because those rewards you really wanted would probably not even reach you if you’re late on paying your credit card bill.

Constant nudging (read: nagging)

If you’re someone who hates getting on calls, especially with bank representatives, be ready to get bombarded if you’ve delayed your credit card payments over time.

Paying late fees

Your next billing statement will include a fee for late or missed payments. While the amount depends on your bank and type of card, it gets carried over to the coming months until you finally clear it all.

Getting marked as ‘delinquent’

Bigger the word, bigger the consequences. To put it simply, delinquency means you haven’t paid your monthly dues on time and your card issuer may therefore report your account to the credit bureaus. In turn, this will damage your credit score. According to Equifax, delinquency records usually stay on your credit report for seven years.

Hard-hitting effects are usually more harrowing and leave long-term consequences on your credit history. Read this article to know more.

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