The content is accurate at the time of publication and is subject to change.

A credit card default occurs when a cardholder fails to make the minimum payment on their credit card bill. It's worth distinguishing credit card defaults from other types of late payments.

If you're experiencing financial hardship, you can contact your credit card issuer to discuss payment options. If you pay what you owe or make payment arrangements with your issuer before a full billing cycle passes, the missed payment may not be reported to the credit bureaus.

If you make a credit card payment in more than 14 days after the due date, this will likely be listed as a late payment on your credit report as part of your repayment history. When you miss a credit card payment, you will typically be charged a late payment fee. You may also be charged interest on the outstanding balance, even if you are not making any payments.

If you haven't paid your credit card bill for two months, you will likely be contacted by your credit card issuer about your overdue account. You will likely be charged late fees again, and depending on the issuer, the late fee may go up. After more than 30 days past due, the credit card issuer may also report your account to credit reporting agencies, which may affect your credit score.

If you fail to pay your credit card for more than 180 days, or six months, more serious consequences could occur on top of the late fees accumulating on your account and the impact on your credit score.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.