Best Reasons to Not Miss Credit Card Payment

The ability to pay your credit card bill punctually is crucial to keep your credit score up and to avoid late payment charges. But, there’s always something that happens to get up such as illness or travel, or simply an unscheduled schedule that makes it difficult to pay your bills in time.

Credit cards are typically utilized for convenience, however they are also great for building credit. Be sure to avoid late payments when you are paying off debts on credit cards.

Since paying off credit card debits on time will help to avoid excessive interest rates. If you are careful when using them credit cards can be a valuable financial tool. They can help build credit score, allow you to access cash for emergencies, and help you be able to avoid debt when you have to make a major purchase.

What Situations Frequently Result In Late Payments?

Late payments happen when clients don’t pay their bills prior to their due dates. The situation can be triggered if you aren’t able to pay the full payment.

The reasons for these scenarios are the following causes:

Insufficient funds and late deadlines

You’re waiting until the very final minute to get the interest-free time

Physical bills are the only way to pay

The billing date is often confused with the payment due date and the date of payment due

Don’t Miss Credit Card Payments

The negative consequences of an unpaid credit card should have prompted you to take additional steps to pay your bills on time. Let’s look at the effects from late credit card payment:

1. Higher interest rate

Credit card companies have higher rates of interest than other kinds of loans, like auto or home loans.

Additionally credit card companies could increase the rate of interest when late payments occur.

While paying off the credit card balance might seem like a good option, if someone fails to pay the full balance by the deadline, they’ll be paying more interest rates and could have a larger total due.

2. Late fees

If you pay the credit card bill over the due date can result in a substantial late fee. Therefore, on the next statement for your credit card you’ll see the late fee listed.

However it is there is a precedent. Reserve Bank of India (RBI) has directed banks to charge late charges only when the payment is more than three calendar days from the date of due.

You can save yourself from late fees by making sure that you make sure to pay the balance in full every month.

3. The impact on credit scores

Incomplete payments on credit cards affect your credit score adversely since it indicates that you’re not responsible when it comes to money, or you don’t pay punctually.

Therefore, make sure you pay all the bills on time to prevent this negative effect to your credit scores. Since poor credit scores could hinder you from getting loans in the future.

Your credit report is a representation of the entirety of your financial background. Because late charges add to the balance in the course of time this can have a negative effect on the credit rating.

Avoid charges for late payments whenever you can, to keep your credit score so you can be approved for loans in the future.

4. A no-interest credit term cannot be a saving for you.

When cardholders receive credit cards and can spend the money without incurring any costs is known as the grace time.

The length of the period differs from company to company and may change based on the amount you spend.

But, if you don’t pay your bills on time and the outstanding balance is carried forward to the following month’s cycle, there is no interest-free period that will help you avoid penalties for late payments.

5. Credit limit reduced

If cardholders keep ignoring payments their credit limit is affected. The credit limit could reduce, which could restrict the purchasing power of cardholders.

6. Credit card rewards are lost

All the benefits you accrued on your card will be lost when you pay your bill late. If the credit card you have is over due it will be ineligible to use rewards.


Missing a credit card payment puts you at risk of having your credit card close. This could hurt your credit score, especially if you have a credit card balance. Keep sending your credit card payment on time so your account remains open and in good standing.


The cumulative effect of these issues can certainly impact your credit score and affect the financial position of your family. So, it is better to pay on time and make all bill payments. Furthermore, the majority of banks offer online bill pay options. It is an excellent way to pay off credit cards fast is to begin paying early to pay them off.

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