![]() This will harm your credit score majorly. However, if you still don’t act upon clearing your pending dues, your credit card account will be deactivated and will be reported to the credit bureaus. If you fail to do so, your bank will send you warning/notices for 6 months on a regular basis. One such condition states that you will pay all your credit card bills by the due date as listed on your credit card statement. When you opt for a credit card, you sign up for various terms and conditions as laid out in the official joining documents by your bank/credit card issuer. So, continue reading! Reasons that can make you a Credit Card Defaulter This blog is a detailed guide for all this and much more. To get back on track, you must bear the consequences of credit card defaulter and follow practices that will help you improve your credit score. Well, even if you become a credit card defaulter, there is still some hope for you. If the payment is not made for 6 months continuously, the credit card holder will be termed as a defaulter and his/her account will be immediately deactivated. It is important to note that credit cardholders must also pay the minimum amount due. Users become credit card defaulters when they fail to pay their credit card bills within the due time period for a long time. Now, when you fail to repay the spent amount in time (referred to as the credit card billing cycle), which comes to you as your credit card bill, you become a credit card defaulter. Banks/credit card issuing companies pay for your transactions for the time being and you have to repay the spent amount later. ![]() Credit cards allow users to make purchases/transactions on credit, meaning that users can spend now and pay later.
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