What happens when u pay ur CC bill late?

[blazersin2k3]

anyways im 19 and sophomore in college and im in spring break and i forgot that one of my cards payment was due on the 7th. the thing that makes it mad is i only charged 5.01 on the card, so i was pissed. i paid it now but what is gonna happen to my credit? i have an AMEX card that has 0% APR and even though i always pay the balance in full i like knowing that if there is an emergency i got 0% apr till Apr 07. will paying my other bill one day late jack up the rate on that? thanks.

[SPTO]

Re: What happens when u pay ur CC bill late?

You'll be charged some interest. So it all depends on how much % interest your card has.

[Heelfan71]

Re: What happens when u pay ur CC bill late?

anyways im 19 and sophomore in college and im in spring break and i forgot that one of my cards payment was due on the 7th. the thing that makes it mad is i only charged 5.01 on the card, so i was pissed. i paid it now but what is gonna happen to my credit? i have an AMEX card that has 0% APR and even though i always pay the balance in full i like knowing that if there is an emergency i got 0% apr till Apr 07. will paying my other bill one day late jack up the rate on that? thanks.

so it was only 4 days late and you paid the card off??? Usually they give you a grace period so there is a chance nothing will happen. You can always call the 1-800 # on the back of the card and find out.

[blazersin2k3]

Re: What happens when u pay ur CC bill late?

You'll be charged some interest. So it all depends on how much % interest your card has.

why would they charge me interest, i thought it was just a late fee? anyways i paid it like exactly 24 hours after it was due. oh well i guess interest on $5.01 would be better than a late fee anyways.

[marque1d]

Re: What happens when u pay ur CC bill late?

AMEX has a 10 day grace period on both charge and credit cards so most likely nothing will happen at all. Sometimes if you go over the limit or pay late on certain cards, you would lose that 0% promotion.

[blazersin2k3]

Re: What happens when u pay ur CC bill late?

AMEX has a 10 day grace period on both charge and credit cards so most likely nothing will happen at all. Sometimes if you go over the limit or pay late on certain cards, you would lose that 0% promotion.

thanks for the info, but i acutally paid late on my citi card(mastercard one). i was wonderin if AMEX would raise my 0% rate on my card since i paid late because i think i read somewhere that they could it, but i was wonderin if it actually ever happened to anyone.

[Casino]

Re: What happens when u pay ur CC bill late?

my credit cards started out with a nice apr and other good stuff but as soon as i messed up and paid late i got stuck with 20%+ apr and a lte fee. i hate credit cards. my credit is really crappy now. only thing good on it is my car note but anything else sucks.

[Jimplication]

Re: What happens when u pay ur CC bill late?

Late payments can result in you losing your current APR % and defaulting to one that is over 20%..

Also, late payments will negatively affect your credit rating, and that is hard to bring up..

It definitely pays to make payments on time, as the consequences of not doing so are a pretty big deal.

[p_rushing]

Re: What happens when u pay ur CC bill late?

You should be fine. One of my payments didn't post online and I called that day and then ended up putting the payment through without charging me any fees for fast payment. They had a 2 day grace period so it wasn't late.