What Happens If You Miss a Credit Card Payment?

Independent guide - not affiliated with or endorsed by any card issuer, bank, card network or credit bureau. Check the terms of your own account through your issuer's official website, app or statements.

What happens if you miss a credit card payment? You will usually be charged a late fee and may lose your grace period straight away, but the missed payment is generally not reported to the credit bureaus until it is at least 30 days past due. If you pay before then, your credit report is normally unaffected. At 60 days late, the issuer can apply a penalty interest rate to your existing balance.

A missed due date is stressful, but the consequences build in stages, and acting quickly limits the damage at every stage. This guide walks through what happens on the day after the due date, at 30 days and at 60 days, what federal law limits, and what to do right now. It is based on Regulation Z, the Fair Credit Reporting Act and credit scoring guidance from myFICO.

What happens if you miss a credit card payment: the timeline

Late fees: what the law allows

A missed minimum payment usually triggers a late fee if your card agreement includes one. Regulation Z limits these fees in two ways. First, a late fee generally has to fall within a safe harbor amount set in the regulation, which is adjusted over time, or be justified by the issuer's costs. Second, a late fee can never be more than the minimum payment that was due. So if your minimum payment was small, the fee is capped at that amount. Your cardholder agreement and statement show the exact fee for your account.

In 2024, the CFPB adopted a rule that would have sharply reduced the safe harbor for large issuers, but a federal court vacated that rule in April 2025 and it never took effect. The older safe harbor framework remains in place.

A payment counts as on time if the issuer receives it by the cut-off on the due date. Under Regulation Z, that cut-off cannot be earlier than 5 p.m. for payments made by mail or the issuer's standard methods.

When a late payment hits your credit report

Card issuers generally do not report a payment as late to Equifax, Experian or TransUnion until it is at least 30 days past the due date. Once reported, late payments are noted in steps, such as 30, 60 or 90 days late. Payment history is the largest factor in FICO Scores, according to myFICO, so a reported late payment can cause a noticeable drop, especially for someone with an otherwise clean file.

Under the Fair Credit Reporting Act, most negative information, including late payments, can stay on your credit report for up to seven years. Its effect on your scores usually fades over time as you add new on-time payments. An accurate late payment cannot be removed just because you have since paid; if a late payment is reported in error, you can dispute it with the credit bureau and the issuer. Check your reports for free at AnnualCreditReport.com.

To understand how this fits with score ranges and card approval, see our guide on what credit score you need for a credit card.

Penalty APR and lost grace period

Many card agreements include a penalty APR, a higher interest rate triggered by late payment. Regulation Z restricts when it can apply to money you already owe: an issuer can raise the rate on your existing balance only if your minimum payment is more than 60 days late, and it must send a notice at least 45 days before the higher rate takes effect. If the penalty rate is applied for that reason, the issuer must end it and return to the earlier rate once you make six consecutive on-time minimum payments, starting with the first payment due after the increase. For more on how rates and daily balances work, read how credit card interest works.

Separately, missing a payment usually means you did not pay the full statement balance, so you can lose the grace period. Interest then applies to the balance you carry and, on many cards, to new purchases until you pay in full again.

What to do if you missed a payment

1. Pay at least the minimum as soon as possible. If you pay before the account is 30 days past due, it will generally not be reported as late.
2. Ask the issuer to waive the late fee. Many issuers consider a goodwill waiver for a first slip, especially if you have a history of on-time payments. Use the contact details in your issuer's app or on its official website.
3. Check that interest has been charged correctly on your next statement, and pay the full statement balance if you can, to restore your grace period.
4. Set up autopay for at least the minimum. Autopay for the full statement balance is better if your cash flow allows. Add due-date alerts in your issuer's app.
5. Consider moving your due date. Many issuers let you pick a due date that lines up with your payday.

If you cannot pay

Contact your issuer before the payment is 30 days late. Many issuers have hardship programs that may lower payments or pause fees for a period, though terms vary and an account may be closed to new purchases while you are enrolled. Our guide to credit card hardship programs explains how to ask and what to check. A nonprofit credit counselor can help you compare options. Avoid companies that charge upfront fees to "fix" credit or settle debt. Our guide on how to avoid credit card interest and fees has more on keeping costs down while you catch up.

Rebuilding after a late payment

One late payment is not permanent damage. The habits that rebuild your file are the same ones that build it in the first place: pay on time every month, keep balances low relative to your limits and avoid opening several new accounts at once. If you are starting over with a thin file, our guide to building credit with your first card explains the basics.

Sources

• CFPB: Regulation Z, 12 CFR 1026.52 (limits on fees, including late fees)
• CFPB: Regulation Z, 12 CFR 1026.55 (limits on rate increases, including penalty rates)
• CFPB: Regulation Z, 12 CFR 1026.10 (payments and the 5 p.m. cut-off)
• FTC: Fair Credit Reporting Act (how long negative information can be reported)
• myFICO: What's in my FICO Scores?
• AnnualCreditReport.com: free credit reports