MISSING A PAYMENT CAN BE COSTLY

Running late with just a single credit card payment can impact your credit score. It’s not usually an issue if you’re late by one or two days but if the payment is overdue by 14 days – or, worse, 30 days – your credit score could take a hit. Staying up to date with card payments is even more important if you are using a balance transfer. Being late with a card payment can potentially terminate the promotional rate on the transfer deal. That could mean losing the super low or even zero interest rate that attracted you to the balance transfer in the first place.