New York Consumer Law Blog

Tuesday, November 19, 2019

What happens when you miss a credit card payment?

Wonder how a late payment affects consumers differently?  See a sample comparison by FICO.

https://www.cnbc.com/select/what-happens-when-you-miss-a-credit-card-payment/

As you can see, the higher your credit score, the greater negative effect a 30- or 90-day missed credit card payment has on your account. That’s because someone with a lower credit score already has their past behavior reflected in their score. The addition of one more indicator of risk won’t be as significant as someone with a clean credit history.


 

 


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