I Forgot To Pay My Credit Card Bill

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We’re always talking about credit cards and paying your bills. So what happens when you have forgotten to make a payment? Don’t worry, it’s not the end of the world, but it is also nothing something that should become a regular habit either.

So what do you do next? Well, pay it of course. That’s right, the first thing you should be doing when you’ve realized you’ve missed any kind of payment is to pay it right away, and preferably for the full amount. But we understand that sometimes that just can’t happen. But this is when those pesky interest charges start to emerge, which is why you want to make sure you are paying off as much as you can, as often as you can.

Contact The Bank

You can also call you bank if you feel a mistake has been made, or if this is one of the first time you’ve missed a payment. They will be able to walk you through your options and let you know the impact (if there has been) on your account. In some cases (rare ones, you’ll have to do some good negotiating), you can even have interest charges reversed if you’re a first time offender and have good credit history. But if you are going to talk to your bank regarding these charges and your credit card, be prepared for them to begin talking to you about overdraft protection and other services that will also cost you.

Credit Score

A majority of people’s thoughts when it comes to missing payments is, “what is going to happen to my credit score”? And this is something you should be concerned about.  Missing one payment won’t ruin your credit score, but after missing two consecutive payments you will definitely see a drop in your score and your bank/credit card provider will also likely increase your interest rate. We’ve mentioned how important your credit score can be, especially for larger purchases like a house and your mortgage.

Financial Help

If you’ve missed a few payments, it’s now likely that your bank or credit card provider has contacted you in regards to paying your bills. Ignoring these payments will only make it worse, but that’s where people like us here at GoDay come in. We can help get you the cash you need to keep you afloat until your next paycheck and can pay off these debts. And surprisingly enough our loans can be a lower interest and larger timeline than what your credit card company would provide you with.

So when it comes to missing your credit card bill, if this is your first time, it will be okay! It’s making a habit of missing these payments that will cause future financial issues including the first steps to credit card debt and impacting your credit score.

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