if you pay less than your minimum payment on your credit card,?

Question

what can they do??

example: a credit card minimum payment is $100 per month... a person pays only $50 per month on it...

can they sue you over this or what??

Answer 1

I suggest calling the card company to make payment arrangements and try to not use that card at all for anything. They see the effort of 50 a month payment, but the minimum is the minimum and you may be harming your credit. they won't sue you, but they will call telling you to pay or else type warnings. It depends also on how long this problem has been occurring too. they will not make payment arrangements with you if you have never been past due. Good luck!

Answer 2

They won't sue you probably unless you stop making payments all together. But the late fees will pile up. Do yourself a favor and pay off the balance, then cut up and stop using the card. Credit cards can cause real problems, especially when mismanaged. I don't use credit cards because I don't like the hassle of having to remember to pay someone else back money that I could use to make the purchase myself. A credit score is unimportant if you have cash for everything.

Answer 3

First of all, they'll charge you a fee for not paying at least the minimum. If you pay something close to the minimum, and only do it for one month or maybe two then go back to paying at least the minimum, that might be all that will happen.

They can sue you or turn you over to collections.

Answer 4

You'll have a late payment and probably they'll add a late payment fee. If you make it up the next month, they won't sue you. If you keep making less than the minimum, you will get further and further behind and eventually they'll probably sue.

Answer 5

No, but they can add charges for late payment on the remaining minimun and it will give you bad credit rating if you do it more then a few cycles.
Don't buy what you can't afford or pay the amount required. You signed a contract when you got the credit card.
They probably won't sue you but they will make your life a living hell.

Answer 6

Two things: Penalty fee of up to $40. Marked as a late payment on your credit history.

Answer 7

They may not sue you but you will have Tons of late fees per month which will make your minimum higher. Make your minimum payment no matter what.

Answer 8

You should try to pay your minimum no matter what -
That's why it's the "minimum."

You may be able to call the company and renegotiate your minimum payment - but if you have a bad track record of paying on time or paying your minimum, they will likely tell you to take a hike.

I hope this helps!

Answer 9

they will add late payment charges on evertime you don't meet the minimum payment

Answer 10

The cc company can accelerate your debt and demand entire payment. you go into default in other words