Missing a credit card payment isn’t the end of the world, but knowing what happens and acting quickly can limit the damage.
What Happens Immediately
Late Payment Fee
Most providers charge £12 when you miss a payment. This is added to your balance and will accrue interest.
Loss of 0% or Promotional Rate
If you have a 0% interest deal (balance transfer, purchases, or both), missing a payment can cause you to lose the promotional rate. Your balance reverts to the standard interest rate, which is typically 20%–30% APR.
Check your terms — some providers give one chance, others remove the deal immediately.
Interest on Full Balance
If you normally pay your balance in full each month (avoiding interest), missing a payment means you’ll be charged interest on the entire outstanding balance from the statement date — not just the unpaid amount.
What Happens Over Time
The consequences escalate the longer the payment remains outstanding:
| Timeline | What Happens |
|---|---|
| 1–29 days late | Late fee charged, potential loss of promotional rate, interest accrues |
| 30 days late | Missed payment recorded on your credit file |
| 60 days late | Second late fee, further credit score damage, provider may reduce your credit limit |
| 90+ days late | Account may be marked as “in arrears” or “defaulted” |
| 3–6 months | Default notice issued, account may be passed to a debt collection agency |
| 6+ months | Potential CCJ application, long-term credit file damage |
Impact on Your Credit Score
How Missed Payments Are Recorded
Credit reference agencies (Experian, Equifax, TransUnion) record your payment history each month:
- On time: Positive mark
- 1–29 days late: Usually not reported (but the provider knows)
- 30+ days late: Recorded as a missed payment
- Default (usually after 3–6 missed payments): Registered as a default
How Long It Stays on Your File
- A missed payment stays on your credit file for 6 years
- A default stays for 6 years from the date of default
- A CCJ stays for 6 years (or can be removed if paid within 1 month)
The Real-World Impact
A missed payment or default can make it harder to:
- Get a mortgage
- Rent a property (landlord credit checks)
- Get a phone contract
- Open new credit accounts
- Get favourable interest rates
What to Do If You’ve Missed a Payment
Pay as Soon as Possible
The sooner you pay, the less damage:
- Within a few days: You’ll pay the late fee but may avoid a credit file mark
- Within 30 days: Stops the missed payment being reported to credit agencies
- After 30 days: The mark is on your file, but paying prevents further escalation
Contact Your Provider
Call or use online chat to:
- Explain your situation — providers must treat you fairly (FCA rules)
- Ask for the late fee to be waived — many will do this for a first offence
- Request your promotional rate be reinstated — worth asking, some providers agree
- Set up a direct debit for at least the minimum payment to prevent future misses
Set Up a Direct Debit
The single best way to avoid missing payments:
| Direct Debit Option | Best For |
|---|---|
| Full balance | Avoiding all interest charges |
| Fixed amount | Budgeting a set repayment each month |
| Minimum payment | Safety net to avoid late fees (but costs more in interest) |
Setting up a direct debit for the minimum payment as a safety net, then making additional manual payments, gives you the best of both worlds.
If You Can’t Afford to Pay
Minimum Payment Only
If money is tight, paying the minimum payment keeps your account in good standing. But be aware:
- Minimum payments are typically 1%–2.5% of the balance plus interest
- Paying only the minimum on a £3,000 balance at 22% APR could take 27+ years to clear
- You’d pay thousands in interest
Contact Your Provider for Help
Credit card companies have affordability teams that can offer:
- Temporary reduced payments
- Frozen interest and charges
- Extended repayment plans
- Payment holidays (up to 3 months)
They’re required by the FCA to treat customers in financial difficulty sympathetically.
Free Debt Advice
If you’re struggling with multiple debts:
- StepChange — free debt advice and debt management plans
- National Debtline — free telephone advice
- Citizens Advice — face-to-face and online help
- MoneyHelper — government-backed guidance
These organisations can help you understand your options, including:
- Debt management plans — reduced monthly payments to all creditors
- Individual Voluntary Arrangement (IVA) — formal agreement to pay what you can afford
- Debt Relief Order (DRO) — for debts under £30,000 with few assets
- Bankruptcy — last resort, clears most debts but has serious consequences
The Escalation Process
If you don’t pay and don’t engage with your provider:
- Reminder letters — increasingly urgent
- Default notice — formal warning giving you 14 days to pay
- Account closed — the debt remains but the card is cancelled
- Debt sold to collection agency — they buy the debt and chase payment
- County Court Judgment (CCJ) — court order to pay
- Bailiff action — enforcement of the CCJ (can take goods to sell)
At any stage, engaging with the provider or seeking debt advice can slow or stop this process.