Credit Card Questions & Answers

Selected cards: 0
Compare
Advertising Disclosure

What happens if the credit card is not paid?

Answered on June 25, 2015

Avoiding your credit card bill will do a lot of damage on your credit and you will need a good deal of time and effort to undo it.
When you miss a payment, you get slapped with late fees. If you do not make a payment for an entire billing cycle, you’ll be considered 30 days past due and this will be reported to the credit bureaus. Even one this item can cause a significant drop of your credit score, and the more payments you miss, the lower your credit score will be. Once you hit 90 days past due, the issuer can cut off your available credit and if you continue to avoid paying, your credit will be written off, which is called a charge-off. Having a charge-off on your credit report will make it hardly possible to get more credit in the near future. Also, a charged-off debt can be sold to collectors, which also be reflected on your credit report ruining your credit even more.
When you have trouble paying your credit card bills, it is recommended to contact your credit card issuer and work out a plan to solve the problem to hopefully avoid a ruined credit disaster.

looking for a Credit CARD:
The Bank of Missouri: First Access Visa® Solid Black Credit Card
Apply Online
Perfect credit not required for approval; we may approve you when others won’t
The Bank of Missouri: Milestone® Mastercard® with Choice of Card Image at No Extra Charge
Apply Online
Prequalify for a card today and it will not impact your credit score
Horizon Card Services: Horizon Gold
Apply Online
Instant $500 Credit Line. No Credit Check.
Celtic Bank: Surge Mastercard®
Apply Online
See if you’re Pre-Qualified without impacting your credit score

Other Questions And Answers

Have a question about cards? Ask Expert!
William Colon, free credit advice William Colon, money expert. Free credit card advice online.

Read Also Related News

20May

Bankrate has recently conducted a survey of U.S. consumers’ payment habits amid the coronavirus. According to it, the number of Americans paying for grocery purchases with credit cards...

13May

The coronavirus pandemic has caused significant damage to the economy of the country and the whole world. No wonder that spending habits of Americans have also undergone some...

  • About Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • 0 Selected Cards Compare