Not Paying Credit Cards – A Timeline to Avoid (Part 2)

MoneyTips

By Sandra Parsons

In a recent article, we described the implications of being less than three months late with your credit card payment. While late fees, increased interest rates, and a knock to your credit score are bad enough, there are even more serious consequences when your payment is late by ninety days or more. Nevertheless, there are some actions to take that could mitigate the damage.

When your payment is 90 days late

Whooh! Things are getting pretty bad right about now. You've been charged a fourth late fee. You're paying high interest rates. The accumulation of fees, your outstanding balance, and your high rates means your balance might be getting out of control.

Your credit report and credit score – Once you hit nin...

from MoneyTips https://www.moneytips.com/not-paying-credit-cards-a-timeline-to-avoid-part-2