When you're juggling multiple bills each month, it can be easy to forget when a credit card payment is due. And if you have more than one credit card, it can be even more difficult to keep track of all the different dates. Inevitably, we all miss a bill from time to time. But how much you'll be dinged for a late payment depends on the kind of credit card you have.
Below, Select breaks down when a credit card payment is considered late and how you can prevent late payments.
When is your credit card payment considered late?
Credit card payments are due the same day and time every month, often 5 p.m. or later. A credit card payment can't be considered late if it was received by 5 p.m. on the day that it was due, according to the CARD Act.
Some card issuers may set a later due date if you pay your bill online, giving you even more time pay. For example, if you have a Chase credit card, such as the Chase Sapphire Preferred® Card, you have until 11:59 p.m. ET to make your payment online.
It's important to review the terms of your credit card to find out the exact cutoff time for when a payment is considered on time versus late.
Find out more about what happens when you miss a credit card payment.
Late payments vary by time zones
When you make a payment you'll often notice a time zone in the fine print. This is for cardholders who may not be in the same time zone as the credit card issuer. This is an important detail to pay attention to since it can potentially cause your payment to be considered late.
For example, if you're on the west coast, but your card issuer is based on the east coast, your late payment time is different. A 5 p.m. ET cutoff is equivalent to 2 p.m. PT.
If you're worried about time zone issues, pay your bill a few days before it's due.
What happens when your bill is due on a weekend or holiday?
If your credit card bill due date falls on a weekend or holiday, there are some circ*mstances where it can still be considered on time if your payment is received by the next business day.
According to the CFPB, if the due date is a day that the card issuer doesn't receive or accept mail, such as a Sunday or a national holiday, they can't consider a mailed payment as late if it was received by 5 p.m. on the next business day. Be aware that card issuers look at the day it was received, not postmarked. So even if you mail a payment before the due date, if it gets delayed in the mail, it will still be considered late.
If you make an online or phone payment, it must be done by the due date. Online and phone payments made the next business day will be considered late.
How to prevent late credit card payments
Follow the steps below to avoid late credit card payments in the future:
Set up autopay
The easiest way to prevent late payments is to set up autopay. It can take less than a minute, and you can benefit from peace of mind that your credit card payment is scheduled. Autopay can be set up for the minimum payment due, your total statement balance or another amount. We recommend setting it for your total statement balance so you avoid interest charges, but if that's not possible choose at least autopay the minimum due.
Set payment reminders
If autopay isn't for you, you can set calendar reminders or text and email alerts. Many card issuers let you opt into reminders for when your statement is available, when your payment is due in a set number of days, when your payment posts and more. Note that these options may vary by issuer.
Change your payment due date
If you have more than one bill to pay, odds are your due dates are spread out over the month. This may increase your chances of making a late payment, so it can be a good idea to adjust your payment due dates as needed. It may be beneficial to have them all on the same day or right after you get paid.
Sign up for a credit card with no late fees
There are a handful of credit cards that don't charge late fees, including the Citi Simplicity® Card (see rates and fees) and the Apple Card. And there are some cards that will waive your first late fee, like the Discover it® Cash Back. That said, you will be hit with interest charges if you don't pay your bill on time each month.
Read more
Recently miss a credit card payment? This is how long it may stay on your credit report
Credit card late fees can cost up to $41—here are 8 cards that don't charge them
Making only minimum payments on credit card debt could cost you thousands and take over a decade to repay
Here is the best time to pay your credit card bill
For rates and fees of the Discover it® Cash Back, click here.
Information about the Apple Card has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
FAQs
Generally speaking, the reporting date is at least 30 days after the payment due date, meaning it's possible to make up late payments before they wind up on credit reports. Some lenders and creditors don't report late payments until they are 60 days past due.
How many days is a credit card payment considered late? ›
Credit card issuers don't report payments that are less than 30 days late to the credit bureaus. If your payment is 30 or more days late, then the penalties can add up. Common results of paying late include: Late payment fee: In most cases, you'll be hit with a late payment fee.
Will a 2 day late payment affect credit score? ›
When is a payment marked late on credit reports? A payment will typically need to be 30 days late before it's reported to the credit reporting bureaus. An overlooked bill won't hurt your credit as long as you pay before that 30-day mark, although you may have to pay a late fee.
What is a good grace period for a credit card? ›
The average grace period on credit cards is between 21 and 25 days, but some special promotional grace periods can last up to 55 days when you first receive and activate your card.
What happens if I make my credit card payment 3 days late? ›
If your credit card bill is paid late, you may be charged a late fee even if you pay your bill a day or two after it's due. Late fees and any accumulated interest charges will show up on your next billing statement. If you regularly miss payments, you can expect continued late fees which means you'll be in debt longer.
How to ask for late payment forgiveness? ›
A goodwill letter is a formal letter to a creditor or lender, such as a bank or credit card company, to request forgiveness for a late payment or other negative item on your credit report. In the letter, you typically: Explain the circ*mstances that led to the late payment or issue.
What if a credit card payment is one day late? ›
You will have to pay a late fee if you pay your bill after the due date. The late fee would be charged by the bank in your next credit card bill. In a recent move, the Reserve Bank of India (RBI) has directed banks to charge late fee only if the payment has been due for more than three days after the due date.
What happens if my credit card payment is late by one day discover? ›
A late credit card payment could result in late fees, a penalty APR, and a negative impact on your credit score. You can set up payment alerts to help you remember to pay by your due date. Budgeting is a good way to ensure that you have the funds to cover your credit card payment.
Can you have a 700 credit score with late payments? ›
It may also characterize a longer credit history with a few mistakes along the way, such as occasional late or missed payments, or a tendency toward relatively high credit usage rates. Late payments (past due 30 days) appear in the credit reports of 33% of people with FICO® Scores of 700.
How much does your credit score drop with one late payment? ›
Once a late payment hits your credit reports, your credit score can drop as much as 180 points. Consumers with high credit scores may see a bigger drop than those with low scores. Some lenders don't report a payment late until it's 60 days past due, but you shouldn't count on this when planning your payment.
The 15/3 rule, a trending credit card repayment method, suggests paying your credit card bill in two payments—both 15 days and 3 days before your payment due date. Proponents say it helps raise credit scores more quickly, but there's no real proof. Building credit takes time and effort.
How many days grace for credit card payment? ›
For cash withdrawals, interest is charged from the same day. Suppose your Credit Card billing cycle is 15th Jan to 15th Feb and the due date is, say 25th Feb. If you use the Credit Card for a purchase on 16th Jan then you will have 40 days until the due date to repay the amount. No interest is charged during this time.
Does the 10 day grace period affect your credit? ›
The grace period duration varies depending on the contract and debt instrument but is usually 15 days. Satisfying a financial obligation during the grace period will not negatively impact an individual's credit score.
Is it OK to be 2 days late on credit card payment? ›
Even a single late or missed payment may impact credit reports and credit scores. But the short answer is: late payments generally won't end up on your credit reports for at least 30 days after the date you miss the payment, although you may still incur late fees.
What is considered a late payment? ›
Generally, credit card payments that are more than 30 days overdue could be reported to credit bureaus, where they can appear on your credit report for years and affect your credit scores. Beyond its impact on credit, late credit card payments can also result in late fees, interest charges and rate increases.
What is a good reason for a late payment letter? ›
Keep it short and sweet. You might consider writing a goodwill letter if you missed one or more payments due to a medical emergency, a divorce, job loss, or a natural disaster. An issue with mail delivery due to a move could be another valid reason to write a goodwill letter.
How many days grace period for credit card payment after due date? ›
Also Read: How much time it can take to close a credit card
According to the “Master Direction” by the Reserve Bank of India (RBI), credit card issuers can report an account as “past due” to credit information agencies or levy any penalty only if the credit card account remains “past due” for over 3 days.
How long can you go without paying a credit card? ›
If it hasn't already, your credit card issuer will most likely sell your debt to a collection agency once you're 180 days late, which is known as a charge-off.
What is the grace period for credit one bank late payments? ›
If you have a grace period, it has to be at least 21 days. It's the same 21 days we talked about, which comes between your statement closing date and payment due date. Some credit cards might offer a longer grace period, but it will never be shorter because 21 days is the minimum.
