What happens when I miss a credit card payment?

If you miss a credit card payment in Alaska, it will be reported to the credit bureaus and your credit score could be impacted. Depending on the issuer, you will likely incur a late fee of up to $35 and your interest rate might be increased, which could lower your credit score even more. Furthermore, missing multiple payments could result in a credit card company filing a lawsuit against you. If you’re struggling to make payments, try to contact your credit card company as soon as possible to see if you can work out a payment plan. Your credit card company may offer a payment deferral period or waive the late fees. If you’re consistently missing payments, it could be a sign that you need to consider other options, such as finding ways to reduce your debt. Working with a financial advisor or debt reduction service can help you come up with a plan to pay off your debt and manage your credit card payments.

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What happens when I miss a credit card payment?

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