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

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

Rupali Amin
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 tricky—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 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 wanted would probably not even reach you if you’re late paying your credit card bill.

Constant nudging (read: nagging)

If you hate 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 following 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.’

More significant the word, the bigger the consequences. Put, 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 negatively affect your credit history. Read this article to know more.

How do you ensure that you clear your credit card bills on time?

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