What is a default on a credit card?

A default on a credit card in Delaware is when a credit card holder fails to make a minimum payment on their account and it is reported to the credit bureaus. This typically occurs when a card holder has been delinquent on their credit card payments for a period of time, usually about 90 days. When a cardholder has been delinquent, their payment is considered "in default". When a cardholder is in default, it affects their credit score and can have serious consequences. Depending on the credit card issuer, there may be additional fees and penalties as well as a more negative impact on their credit score. Credit card issuers might also take a more aggressive stance towards a delinquent cardholder, such as taking legal action or closing the account. Defaulting on a credit card is a serious matter and should be avoided at all costs. By creating a budget and sticking to it, cardholders can avoid defaulting on their payments. Making payments on time and paying more than the minimum balance, if possible, can help to avoid default and maintain a good credit score. Additionally, cardholders should keep an eye on their account to make sure their account is in good standing.

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What is a default on a credit card?

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