Missing a credit card payment could end up costing you a lot of money.
Analysis of new research in credit cards shows that missing, or being late paying just one scheduled credit card bill, could cost you hundreds of pounds.
Customers who get on board with special promotions can then get stung once they’ve run out and are left paying a much higher APR.
Suggestions are for customers who do have debt on existing credit cards to move their expensive debts to a 0 per cent balance transfer deal.
One expert says that “It’s also worth noting that missing payments could have a negative effect on a customer’s credit rating, making it harder to get accepted for products in the future.
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