OK, #1 rule is pay all your bills on time. I mean, I guess you could argue that there are other more important rules, but I’d say “Pay all your bills on time” has to be pretty far up on everyone’s list. But what happens if you do, indeed, miss a credit card payment?

What Happens If I Don’t Pay My Credit Cards?

What is it? This somewhat lengthy article walks you through every subsequent consequence of not paying your credit card bill on time, starting with what to do if you can’t make an on-time payment to what happens if you’re many years into your delinquency. It’s the full spectrum.

Why is it cool? This could potentially be a pretty dry subject, but the author keeps it light and makes it a quick read, even though there’s a lot of detail. It’s very informative and uses great vocab from a credit card/credit score unit perspective.

Questions I Might Ask:

Honestly, there are a ton of comprehension questions you could ask from this article, and it shouldn’t take you long to go through, in order, crafting questions. But, I think a cooler idea to make sure students understand what they’re reading would be to assign them a timeline.

Create a timeline of consequences of not paying your credit card bill. At each interval, make sure you consider what happens to your balance, your interest rate, the fees you’re charged, and your credit score. Write these items above the timeline. Below the timeline, write the actions you should take at that time to try to “fix” things the best you can.

Where is it located in the NGPF collection? This is resource 5 in our “Bankruptcy” lesson in the Financial Pitfalls unit.

About the Author

Jessica Endlich

When I started working at Next Gen Personal Finance, it's as though my undergraduate degree in finance, followed by ten years as an educator in an NYC public high school, suddenly all made sense.