· Even if a portion of the amount remains unpaid, credit card interest is levied. Even if you just pay the minimum amount required, you will still be charged interest on the balance outstanding.
· Any additional spending is charged the interest rate (usually 36-42 percent) from the day of expenditure until the day when the dues are repaid when you have an outstanding amount that is past due. When that happens, your credit card turns into a high-interest running loan!
· Delays on credit cards harm your credit score, making future credit cards and loans more expensive or impossible to get.