Late payments are the “biggest foul” when it comes to credit cards, warns Ben Woolsey, director of marketing and consumer research at CreditCards.com — the consequences can include late fees, jacked-up interest rates and a lower credit score.

Take Chase Bank’s Sapphire card, for example, which has a current annual percentage rate of 13.24%. If you make a late payment, the APR could jump to 29.99%. Plus, you’ll be hit with a late fee of up to $35. If you miss two or more consecutive payment dates, the late fee can soar to 3% of the outstanding balance.

Late payments, especially those more than 30 days overdue, can hurt your credit score. Payment history accounts for 35% of a FICO Score, the most common credit score, which ranges from 300 to 850. A single 30 day late payment can drop your score by 60 to 110 points, according to the CreditCards.com website.

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Tags: 30 Day Late Payment, 30 Days Overdue, Annual Percentage Rate, APR, Chase Banks Sapphire Card, Credit Score, FICO Score, Late Payment

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