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

A late credit card payment affects the consumer's credit rating/score and credit history. Every default payment directly hits the score and this in turn makes it difficult for the consumer to apply for further credit, a new card or even a balance transfer.

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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.