Immediate consequences

A missed payment typically triggers a late payment fee — usually £12. Your card's promotional or introductory interest rate may also be revoked, with the standard rate applied instead.

Your credit card provider will contact you — by email, letter or phone — requesting payment.

Impact on your credit score

A missed payment is reported to credit reference agencies once it is 30 days overdue. A late payment marker on your credit file reduces your credit score and remains for six years.

One missed payment is less damaging than several. If you realise you have missed a payment, make it as soon as possible — even a payment a few days late that is made before the 30-day mark may not result in a formal marker.

If you continue to miss payments

Continued missed payments lead to: default (usually after 3-6 months of non-payment), which is a significant credit file marker; possible sale of the debt to a collection agency; and eventually, court action to recover the debt.

Each stage increases the damage to your credit file and may add to the total amount owed through interest and charges.

What to do

If you have missed a payment: make it as soon as possible. Contact the provider and explain your situation — many will waive a one-off fee for customers with a good history.

If you are struggling to make payments regularly: contact the card provider, inform them of your situation and ask about a breathing space arrangement or reduced payment plan. Or contact StepChange or National Debtline for free debt advice.