10+ Easy What Happens If You Don't Pay Credit Card Bill. If you miss a payment, your credit card company may send you overdue notices about it. You will also see damage to your credit score. Even if you pay all your other bills on time, not paying your credit card bill will cost you — not only in terms of late fees and additional interest charges, but also in terms of the impact on your. With continued missed payments, your card may be frozen, and your debt will likely be sold to collection agencies.
Late fees and a higher interest rate. If you miss a payment, your credit card company may send you overdue notices about it. That’s a bad thing to have on your credit report,.
You will also see damage to your credit score.
If you don’t pay your credit card bill at all, you will likely get charged a late fee, lose your grace period, and have to pay interest at a penalty rate.your credit score will also go down. However, these charges will then be waived when you pay your statement in full on (or before). If you don’t pay for 60 days, you’re looking at exceptionally high interest rates on your outstanding amount plus late fee and additional late fee if applicable.
If You Miss A Payment, Your Credit Card Company May Send You Overdue Notices About It.
That means, the credit score on the credit report may suffer depending.