We can all agree that paying credit card bills is no fun. But paying them late — or worse, missing payments completely — is even less fun due to consequences including late fees, higher interest rates and lower credit scores.
And while you might think you have a legitimate reason for paying late, your creditors will beg to differ. We’re going to debunk the 5 most common excuses for missing payments and tell you how to overcome them.
Excuse #1: I don’t have enough money to pay all my bills. 
Running short each month means it’s time to evaluate your income and expenses and start following a structured budget. Chances are you have enough to pay all your bills each month but are not managing your money efficiently. It could also be a case of where your due dates fall. If your bills are all due around the same time, you may be in a ‘feast or famine’ cycle. Figure out where your due dates align in relation to your pay dates and see if you can spread things out more evenly over the month. Many creditors are willing to work with you to change your due dates; especially if it means they’ll get paid on time.
Excuse #2: I’m too busy to remember when they’re due.
We all seem to lead busier lives than ever before, but that’s not a valid reason to miss credit card payments. Fortunately, there are many ways to ensure you still pay your credit card bills on time, every month. You can try:
- Setting up calendar reminders on your phone
- Paying bills online or via apps
- Getting payment reminder emails or text messages
- Enrolling in automatic payments
Find what works for you and stick with it every month to avoid penalties like late fees, higher interest rates, reduced credit limits, and dings to your credit report.
Excuse #3: I can’t find the bill.
Closely related to excuse #2, losing track of your paper bills is not a valid reason to miss making payments on time. In fact, there’s really no reason to even receive paper bills in the mail anymore. Going paperless offers more convenience, less waste and less work for you. You won’t have to worry about filing or shredding your bills. Plus, you’ll be able to access your accounts online, any time to see recent activity, current balance and payment due dates. It also helps reduce the chance of identity theft or account fraud in case your mail gets stolen.
Excuse #4: I have so many bills, I can’t keep track.
If you’re at the point where the sheer amount of bills you have to pay every month is overwhelming, the first thing you’ll want to do is get organized. But beyond that, you’ll want to take some time to think about your spending habits and make a plan to start paying off some bills. There are several effective strategies to pay off credit card debt efficiently, including the avalanche and snowball methods.
If you’re stuck and would like help to review your debt and receive options for solutions to pay off your debt more quickly, our online credit counseling is a great place to start. It’s fast, free and confidential.
Excuse #5: I’d rather use the money for something else.
We’ve all been there. When it comes to paying bills, sometimes you just don’t feel like doing it. You’d rather use that money to do something fun or buy something that catches your eye. But deep down, you know that’s not a good idea. Putting off paying bills won’t make them go away, it just makes them worse. In addition to the late fees and potential ding on your credit score, you’ll have to pay twice as much next month. So be responsible, buckle down and make those credit card payments on time, every time. Your future self will thank you for it.
FAQs
We're going to debunk the 5 most common excuses for missing payments and tell you how to overcome them.
- Excuse #1: I don't have enough money to pay all my bills. ...
- Excuse #2: I'm too busy to remember when they're due. ...
- Excuse #3: I can't find the bill. ...
- Excuse #4: I have so many bills, I can't keep track.
A recent survey by the Federal Reserve Bank of New York found that around 9.1% of credit card balances turned delinquent over the past year — the highest rate in more than a decade.
What is the credit card payment trick? ›
Most people usually make one payment each month, when their statement is due. With the 15/3 credit card rule, you instead make two payments. The first payment comes 15 days before the statement's due date, and you make the second payment three days before your credit card due date.
What are acceptable reasons for late payments on credit report? ›
What Are Acceptable Reasons for Late Payments on Credit Report? Acceptable reasons for late payments on a credit report typically include extenuating circ*mstances that are beyond the individual's control, such as serious illness, sudden job loss, or natural disasters.
How to ask for late payment forgiveness? ›
Explain the circ*mstances that led to the late payment or issue. Express remorse and your intention to pay on time going forward. It may be helpful to add how you plan to prevent the issue, such as by using automatic payments. Request that the creditor consider removing or adjusting the negative item.
Why do so many people forget to pay their credit card bill? ›
The surge in card delinquency comes as high interest rates make card debt more burdensome, and inflation pressures household budgets. In a separate survey, inflation was the number one reason people said they missed payments.
What percentage of Americans pay off their credit cards monthly? ›
One-half of American credit cardholders carry a credit card balance from month to month. That's 50 percent of cardholders, compared to 44 percent in January 2024 and 60 percent in March 2020.
What is the average American credit card debt? ›
Based on data from the Federal Reserve Bank of New York and the U.S. Census Bureau (based on 2024 and 2023 data respectively), it can be calculated that each American household carries an average of around $8,674 in credit card debt in a year.
How many Americans are debt free? ›
Around 23% of Americans are debt free, according to the most recent data available from the Federal Reserve. That figure factors in every type of debt, from credit card balances and student loans to mortgages, car loans and more. The exact definition of debt free can vary, though, depending on whom you ask.
What is the golden rule of credit cards? ›
Pay Off Your Balance
The golden rule of credit card usage is to do everything you can to pay off your entire balance each month. If you can do this, you won't be charged any interest.
Pay your balance every month
Paying the balance in full has great benefits. If you wait to pay the balance or only make the minimum payment it accrues interest. If you let this continue it can potentially get out of hand and lead to debt. Missing a payment can not only accrue interest but hurt your credit score.
What is credit card flipping? ›
Credit card flipping is the process of applying for credit cards to earn sign-up bonuses, then closing the account or moving on to another card, which can be bad for your credit score. However, this isn't often possible, as many card issuers have instituted rules to prevent this from happening.
Is it true that after 7 years your credit is clear? ›
In general, most debt will fall off of your credit report after seven years, but some types of debt can stay for up to 10 years or even indefinitely. Certain types of debt or derogatory marks, such as tax liens and paid medical debt collections, will not typically show up on your credit report.
What is a 609 letter to remove late payments? ›
Section 609 gives consumers the right to request information related to debts listed on their credit reports. Examples of information that you may want to dispute include: Accounts opened due to identity theft. Late payments that were paid on time.
How bad is missing a credit card payment? ›
Missing payments will lower your credit score, increase your interest rates and result in fees. Communicate with your issuer and have a plan in place to make sure you'll never have to deal with the repercussions of missing a payment.
How often do people miss credit card payments? ›
Not paying your credit card bill on time can result in late fees and lead to you racking up expensive credit card debt -- which can be challenging to pay off quickly. Unfortunately, FICO scoring data shows that over 11% of the U.S. population has missed a credit card payment within the last year.
What is the cause of late payments? ›
Late payments happen for various reasons.
Customers tend to forget, mistakes on invoices arise, technology issues arise, and economic uncertainties lead clients to request more time. If you're dealing with checks, there's another set of possible delays from when the check is sent to when it's processed.
What is the leading cause of credit card debt? ›
A credit card represents access to real purchasing power, but without tangible funds in hand, it's easy for cardholders to spend beyond their means. Overspending is one of the fastest ways to build a debt load that doesn't match your income.
What is the most common mistake consumers make when paying their credit card bills? ›
Not paying on time
Sometimes, schedules are busy and budgets are tight. But it's best to always pay at least part of your credit card bill on time. Missing or late credit card payments can have a big impact on your credit score and fees.
