What happens if I miss a credit card payment?

Back to learn

What happens if I miss a credit card payment?

Rounding it up

  • Missing a credit card payment isn’t the end of the world, but you should take action immediately.

  • If you do miss a payment, you could be subject to additional interest charges, fees and penalties, and credit score hits.

  • The first thing you should do if you’ve missed a payment? Pay that bill ASAP, even if it’s just the minimum.

  • It’s important to understand why you missed your payment. Maybe you simply forgot or are having trouble paying bills; if it’s the latter, contact your lender for assistance.

7 min read

Dan Bucherer
#credit#credit cards#credit score#interest

Dan Bucherer

Dan is a runner and writer living in the Washington, D.C. area, where he currently works for a financial services trade association as the Communications Director.

Recent Articles

Which Canadian cities are the best value for buying or renting a home?

The housing market in Toronto vs Vancouver: What you need to know

The housing market in Toronto vs Calgary: What you need to know

The best strategies for negotiating salary at a new job

What determines the price of gold?

How to buy gold, silver, and other precious metals?

Related articles

What is the best interest rate on savings accounts?

7 mins

Yekaterina Galanova

Not all savings accounts are created equal. Learn here how to pick the one that has your best interest in mind.

What is the best interest rate on savings accounts?

7 mins

Yekaterina Galanova

Not all savings accounts are created equal. Learn here how to pick the one that has your best interest in mind.

#interest

#interest rate

#savings

#savings account

Company

AboutCareersCultureGamerLearnPartnersTravelStatus

Connect

The KOHO Mastercard® Prepaid card is issued by KOHO Financial Inc. pursuant to license by Mastercard International Incorporated. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.

By using this website, you accept our Terms and Conditions. Follow these links for more information on our Accessibility Policy and Multi-Year Accessibility Plan. © 2021 KOHO Financial Inc.