Hey! I’m fairly new to credit cards, and I was wondering what possible consequences I could face if I miss my payment deadline. What’s the most I could end up paying for a late payment?
If you fail to make a credit card payment on time, your credit card issuer can report your account as delinquent to the credit bureaus. This means that you failed to make the minimum payment by your due date and your credit score is damaged.
However, some don’t do that immediately, but after three or more missed payments you could be in a serious trouble. For example, your credit card issuer or a collection agency can have the right to file a lawsuit.