Miss a credit card payment, and you'll suffer the consequences. Your credit score will drop significantly, since on-time payments are the number one factor in determining your credit score. You'll pay late fees and possibly incur a penalty APR. Interest charges will pile up on your unpaid balance.
So why do so many Americans miss credit card payments? A new NerdWallet study suggests the biggest reason may be summed up in two words – "I forgot."
According to the study, 35% of Americans who miss credit card payments simply forget to make them – edging out the one-third who don't have the money left over after paying for essentials and the 32% who had to deal with an unexpected financial emergency.
At least you have an excuse if cash flow is your problem – but it's not much of an excuse. Over half of study respondents (56%) blame the rise in delinquencies on ...
from MoneyTips https://www.moneytips.com/why-we-dont-pay-our-credit-card-bills/405
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