What is a default on a credit card?

Defaulting on a credit card in Washington is a serious event. When a cardholder fails to make a payment on a credit card, it is considered a default. Defaulting on a credit card can have serious consequences and can negatively affect a person’s credit score. When a person defaults on a credit card, the credit card company can report the delinquency to the credit bureau. This can cause their credit score to drop, making it harder to get approved for credit in the future. The credit card company can also take legal action against the cardholder, such as filing a lawsuit or garnishing their wages. In Washington, it is important for cardholders to be careful to make their payments on time. If they are having difficulty making payments, they should reach out to their credit card company to see if they can work out a payment plan. Ignoring a credit card debt can result in the credit card company taking legal action against the cardholder. It is best for cardholders to pay the debt off in full as soon as possible.

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What is a default on a credit card?

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