{"id":2216,"date":"2021-03-08T08:40:36","date_gmt":"2021-03-08T04:40:36","guid":{"rendered":"https:\/\/moneymall.ae\/credit-blog\/?p=2216"},"modified":"2021-03-08T08:42:28","modified_gmt":"2021-03-08T04:42:28","slug":"paying-credit-card-bills-on-time","status":"publish","type":"post","link":"https:\/\/moneymall.ae\/credit-blog\/paying-credit-card-bills-on-time\/","title":{"rendered":"7 damaging effects of not paying credit card bills on time."},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Responsibility is key when you use a credit card regularly. Paying your bills on time is one of the most important things you have to do to make sure you are not ruining your chances of a new credit card in the future. <\/span><\/p>\n<h1><span class=\"ez-toc-section\" id=\"Read_on_to_know_the_7_damaging_effects_of_not_paying_your_credit_card_bills_on_time%E2%80%A6\"><\/span><span style=\"font-weight: 400;\">Read on to know the 7 damaging effects of not paying your credit card bills on time&#8230;<\/span><span class=\"ez-toc-section-end\"><\/span><\/h1>\n<figure id=\"attachment_2219\" aria-describedby=\"caption-attachment-2219\" style=\"width: 353px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-2219\" src=\"https:\/\/moneymall.ae\/credit-blog\/wp-content\/uploads\/2021\/03\/damaged.png\" alt=\"credit card bill payment\" width=\"353\" height=\"353\" \/><figcaption id=\"caption-attachment-2219\" class=\"wp-caption-text\">credit card bill payment<\/figcaption><\/figure>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2334e9bbd3a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2334e9bbd3a\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/moneymall.ae\/credit-blog\/paying-credit-card-bills-on-time\/#Read_on_to_know_the_7_damaging_effects_of_not_paying_your_credit_card_bills_on_time%E2%80%A6\" >Read on to know the 7 damaging effects of not paying your credit card bills on time&#8230;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/moneymall.ae\/credit-blog\/paying-credit-card-bills-on-time\/#Debt_collectors\" >Debt collectors:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/moneymall.ae\/credit-blog\/paying-credit-card-bills-on-time\/#Deposits_of_your_security_cheques\" >Deposits of your security cheques:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/moneymall.ae\/credit-blog\/paying-credit-card-bills-on-time\/#Cheque_bounce\" >Cheque bounce:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/moneymall.ae\/credit-blog\/paying-credit-card-bills-on-time\/#The_police_get_involved\" >The police get involved:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/moneymall.ae\/credit-blog\/paying-credit-card-bills-on-time\/#Damaged_Credit_score\" >Damaged Credit score :<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/moneymall.ae\/credit-blog\/paying-credit-card-bills-on-time\/#Future_loan_Applications\" >Future loan Applications:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/moneymall.ae\/credit-blog\/paying-credit-card-bills-on-time\/#Increased_penalties\" >Increased penalties:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/moneymall.ae\/credit-blog\/paying-credit-card-bills-on-time\/#What_happens_if_credit_card_bill_is_not_paid_on_time\" >What happens if credit card bill is not paid on time?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/moneymall.ae\/credit-blog\/paying-credit-card-bills-on-time\/#How_long_can_you_go_without_paying_a_credit_card_bill\" >How long can you go without paying a credit card bill?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/moneymall.ae\/credit-blog\/paying-credit-card-bills-on-time\/#Can_you_go_to_jail_for_not_paying_your_credit_card_billsCan_you_go_to_jail_for_not_paying_your_credit_card_bills\" >Can you go to jail for not paying your credit card bills?Can you go to jail for not paying your credit card bills?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n\n<ul>\n<li aria-level=\"1\">\n<h2><span class=\"ez-toc-section\" id=\"Debt_collectors\"><\/span><b>Debt collectors: <\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">If you fail to pay back the debt of the bank on time, the bank employs debt collectors who will call you all day and hound your office day and night in hopes of soliciting you to pay the bills. They will keep contacting you and try their best to persuade you politely or roughly. It is always a good idea to reach an agreement with the bank to get the debt collectors off your back<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\">\n<h2><span class=\"ez-toc-section\" id=\"Deposits_of_your_security_cheques\"><\/span><b>Deposits of your security cheques: <\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">\u00a0During the application of your credit card, you are asked to submit a blank cheque to the bank. The bank is at liberty to use this opportunity to withdraw the amount outstanding to the bank from the blank cheque issued to them. This is totally within the liberty of the bank and will be used if you fail to deposit or clear your outstanding dues even after continuous persuasions<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\">\n<h2><span class=\"ez-toc-section\" id=\"Cheque_bounce\"><\/span><b>Cheque bounce: <\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">\u00a0If the cheque that you have issued to the bank bounces, a police case will be filed against you. Check bounce is a civil offence and you won&#8217;t be arrested, but you will have to pay a large fine to get out of it<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\">\n<h2><span class=\"ez-toc-section\" id=\"The_police_get_involved\"><\/span><b>The police get involved: <\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">\u00a0Outstanding dues that have not been paid for a very long time are under the supervision of the police as well. Police and immigration systems will often hound you to pay the money back and employ various legal methods to ensure that you clear outstanding dues. If you leave the country with outstanding debt on your credit card, you are not safe either. Local debt collectors and people from the bank approach you in foreign nations as well to persuade and solicit the clearing of outstanding debt to the bank. The bank will stop at nothing to get its money back, so it is generally a good policy to pay on time<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\">\n<h2><span class=\"ez-toc-section\" id=\"Damaged_Credit_score\"><\/span><b>Damaged Credit score : <\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Your credit score is highly dependent on your ability and history to pay back your payments. If you have outstanding credit card debt, your credit score gets impacted a little. However, if the outstanding debt does not get cleared for a long time, your credit score will fall very very rapidly. This fall will affect your ability to procure any loan, new credit cards or any other lines of credit from a bank or financial institution in the future<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\">\n<h2><span class=\"ez-toc-section\" id=\"Future_loan_Applications\"><\/span><b>Future loan Applications: <\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">\u00a0If your credit score gets hampered by your outstanding debt, banks and financial institutions will hesitate from giving you a loan. A low credit score indicates that you have a history of not paying back your debt. So, no bank will readily give you a loan. This might hamper your future financial prospects if you ever try to get a mortgage for a house or a car loan or likewise<\/span><\/li>\n<li aria-level=\"1\">\n<h2><span class=\"ez-toc-section\" id=\"Increased_penalties\"><\/span><b>Increased penalties: <\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">\u00a0If you fail to pay your credit card bill for a very long time, the interest keeps adding up nevertheless. The compound interest, along with penalties and charges that keep adding to the principal amount will end up being a lot more than what you actually spent. To avoid this, pay your bills on time.\u00a0<\/span><\/li>\n<\/ul>\n        <section class=\"sc_fs_faq sc_card \">\n            <div>\n\t\t\t\t<h2><span class=\"ez-toc-section\" id=\"What_happens_if_credit_card_bill_is_not_paid_on_time\"><\/span>What happens if credit card bill is not paid on time?<span class=\"ez-toc-section-end\"><\/span><\/h2>                <div>\n\t\t\t\t\t                    <p>\n\t\t\t\t\t\tIf you don't pay your credit card bills on time you would be levied with late payment charges, increased interest rates and incur damages to your credit score. In case you continue to miss your payments for so long, your card can be frozen and your debt could be sold to a collection agency                    <\/p>\n                <\/div>\n            <\/div>\n        <\/section>\n\t\t        <section class=\"sc_fs_faq sc_card \">\n            <div>\n\t\t\t\t<h2><span class=\"ez-toc-section\" id=\"How_long_can_you_go_without_paying_a_credit_card_bill\"><\/span>How long can you go without paying a credit card bill?<span class=\"ez-toc-section-end\"><\/span><\/h2>                <div>\n\t\t\t\t\t                    <p>\n\t\t\t\t\t\tA credit card payment is generally considered late when it's 30 days past due and won't end up on your credit report until that point,                     <\/p>\n                <\/div>\n            <\/div>\n        <\/section>\n\t\t        <section class=\"sc_fs_faq sc_card \">\n            <div>\n\t\t\t\t<h2><span class=\"ez-toc-section\" id=\"Can_you_go_to_jail_for_not_paying_your_credit_card_billsCan_you_go_to_jail_for_not_paying_your_credit_card_bills\"><\/span>Can you go to jail for not paying your credit card bills?Can you go to jail for not paying your credit card bills?<span class=\"ez-toc-section-end\"><\/span><\/h2>                <div>\n\t\t\t\t\t                    <p>\n\t\t\t\t\t\tYou can't go to jail for nonpayment, but when your security cheque is bounced, Bank will file a police case. then you have to visit the police station.In Dubai, If the cheque amount is less than Dh200,000, the punishment may be by fine and the fine may vary between Dh2,000 and Dh10,000 depending on the cheque amount.                    <\/p>\n                <\/div>\n            <\/div>\n        <\/section>\n\t\t\n<script type=\"application\/ld+json\">\n    {\n\t\t\"@context\": \"https:\/\/schema.org\",\n\t\t\"@type\": \"FAQPage\",\n\t\t\"mainEntity\": [\n\t\t\t\t{\n\t\t\t\t\"@type\": \"Question\",\n\t\t\t\t\"name\": \"What happens if credit card bill is not paid on time?\",\n\t\t\t\t\"acceptedAnswer\": {\n\t\t\t\t\t\"@type\": \"Answer\",\n\t\t\t\t\t\"text\": \"If you don't pay your credit card bills on time you would be levied with late payment charges, increased interest rates and incur damages to your credit score. In case you continue to miss your payments for so long, your card can be frozen and your debt could be sold to a collection agency\"\n\t\t\t\t\t\t\t\t\t}\n\t\t\t}\n\t\t\t,\t\t\t\t{\n\t\t\t\t\"@type\": \"Question\",\n\t\t\t\t\"name\": \"How long can you go without paying a credit card bill?\",\n\t\t\t\t\"acceptedAnswer\": {\n\t\t\t\t\t\"@type\": \"Answer\",\n\t\t\t\t\t\"text\": \"A credit card payment is generally considered late when it's 30 days past due and won't end up on your credit report until that point,\"\n\t\t\t\t\t\t\t\t\t}\n\t\t\t}\n\t\t\t,\t\t\t\t{\n\t\t\t\t\"@type\": \"Question\",\n\t\t\t\t\"name\": \"Can you go to jail for not paying your credit card bills?Can you go to jail for not paying your credit card bills?\",\n\t\t\t\t\"acceptedAnswer\": {\n\t\t\t\t\t\"@type\": \"Answer\",\n\t\t\t\t\t\"text\": \"You can't go to jail for nonpayment, but when your security cheque is bounced, Bank will file a police case. then you have to visit the police station.In Dubai, If the cheque amount is less than Dh200,000, the punishment may be by fine and the fine may vary between Dh2,000 and Dh10,000 depending on the cheque amount.\"\n\t\t\t\t\t\t\t\t\t}\n\t\t\t}\n\t\t\t\t    ]\n}\n<\/script>\n\n","protected":false},"excerpt":{"rendered":"<p>Responsibility is key when you use a credit card regularly. Paying your bills on time is one of the most [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2220,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[2],"tags":[588,587,589],"class_list":["post-2216","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-credit-cards","tag-credit-card-bills","tag-not-paying-credit-card-bills-on-time","tag-paying-credit-card-bills"],"_links":{"self":[{"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/posts\/2216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/comments?post=2216"}],"version-history":[{"count":2,"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/posts\/2216\/revisions"}],"predecessor-version":[{"id":2222,"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/posts\/2216\/revisions\/2222"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/media\/2220"}],"wp:attachment":[{"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/media?parent=2216"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/categories?post=2216"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/moneymall.ae\/credit-blog\/wp-json\/wp\/v2\/tags?post=2216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}