What will hhappen if I miss a payment on my American express card?

Question

I just got me a american express card about 1 month ago and I love it I was reading other post on yahoo about if u r late 2 times on ur card payment they will deactivate your card and it want work again is this true?   I have a 2000$ spending limit I went over 200 I spent 200 in all they told me 8th doesn't matter they usually let people go over alil bit and they also said they don't charge any fees when u go over and they said they don't put it on ur credit that u went over what do yall think about all this and the late payments I want someone from experience that knows about this kind of stuff

bdancer222 · Answer

You are off to a bad start if you have a $2K limit and have already gone $200 overlimit.  That will cost you an overlimit fee.   Often with a new card, they don't let you go overlimit that much.  Overlimit  is never reported to the credit bureaus and has no impact on your credit.

If you are late, you get hit with a late fee.  If you go 30 days late, it gets reported to the credit bureau and damages your credit.  If you are late twice on a relatively new account, it is very likely they will close the account.

You build good credit by always paying everything on time.  There is no such thing as being a "little late".  It's like being a "little pregnant".  You're still pregnant.

Abandon all ships · Answer

If you don't pay on time you get to pay interest which is high percent and you get bad credit

CatDad · Answer

30 days late past the due date and you get reported to the credit bureaus. Your credit score will take a fairly big hit. You will also get late fees.

Rob · Answer

depends entirley on what they want to do.

if u repeatly miss non consecutive payments your
Interest will go up and u will make them wealthier
with late payments fees

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What will hhappen if I miss a payment on my American express card?

4 Answers