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What happens if you don't pay all of your credit card bill?

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  • What happens if you don't pay all of your credit card bill?


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Answer #1 | 05/01 2014 12:35
As long as you pay what they say is the minimum each month the only trouble you have is that the interest adds up quickly and will take you years to pay it off. There should be a section on your bill explaining all that. Pay it off as quickly as you can and stick to a budget so you don't get in debt.
Answer #2 | 05/01 2014 13:11
You can pay anything between the min and full amount specified. Interest rates are very high. Have a look at the money advice service s about credit cards. This is a very expensive way to borrow. https://www.moneyadviceservice.org.uk/en/articles/credit-cards
Answer #3 | 05/01 2014 12:43
You more than likely have to make at least a minimum payment. Check your statement it should be shown on the payment stub. As long as you pay the minimum payment before the due date your account will remain in good standing and not affect your credit score. It's a good idea pay the balance off as soon as you can because credit card companies charge extremely high interest rates, sometimes up to 30% apr.
Answer #4 | 05/01 2014 12:42
Credit cards can be utilized as well for short term borrowing purposes, so if you can't afford to pay it off you can't afford to pay it off. There will be moments in your life that pop up when the cash on hand is of more value than the credit hit, so just recognize that and make sure to pay it off as quickly as possible to save the most on interest. Credit is a long term process that will have many ups and downs in the short term as situations change but as long as you stick to the big important rules on a long term basis you will be fine.
Answer #5 | 05/01 2014 14:04
things are more complicated than you've expressed. as it stands now the way you have this set up with the bank, they will wipe you out and then fee you for the zeroed account. get the card payment changed. have bill sent directly to you. the bill will give you the min. bal due monthly. YOU decide how much you are going to pay over the min. by the due date. you will be charged interest on the balance of the bill until paid in full. pay as much as you can monthly. get into bank and cancel authorization for that direct pay for your bill. if you do not do this you will be getting fees from both directions the charge card and the bank. YOU are responsible for the current mess so get moving with both ends immediately before these fines set in high gear or you will be wiped out. yes your credit score will be compromised slightly if you do not straighten it out
Answer #6 | 05/01 2014 15:10
you will be charged interest on all outstanding balances according to your T&C's if you pay the required minimum monthly amount that is ok lenders are not a charity and prefer customers like you to help pay the wages etc etc
Answer #7 | 07/01 2014 17:56
You'll get charged interest on what you didn't pay, at the (rather high) advertised rate. Interest will continue to be charged every month until you finally reduce the bill to zero. It's only if you continue not to make payments that mentions start getting recorded with the credit rating agencies. Borrowing IS what a credit card is intended for and as long as you manage the card properly and continue to make payments, no problem. Why is it more secure than your debit card? It uses exactly the same system for making purchases.
Answer #8 | 05/01 2014 17:32
Pay as much as you can afford before the due date, and make sure they do not try to take out the normal full amount and take you into an overdraft. Next month you will have to spend the whole month watching your spending pattern and making sure the bill is better and then you can slowly clear the debt off.
Answer #9 | 05/01 2014 16:48
check your credit card terms and conditions It USED to be that if you didnt pay off all the outstanding bill in full you would pay interest on the TOTAL amount that was in your statement i.e if your bill was say 3000 and you paid off 2999 (that is - you would only owe 1) - next month you would be charged interest on the full 3000 I dont know if this has changed cos like you I always pay the bill in full every month

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