Missed Credit Card Payment. Carrying a credit card balance from month to month courts disaster, because sooner or later you're likely to miss a payment and when you do you'll incur damaging penalty fees and other consequencies (escalated interest rate on your balance, reporting of late payment to the credit bureaus, lower credit rating, reduced ability to get new loans, etc.)
And the reason for missing may be legitimate, like from not having the money to pay, having to pay late, or simply forgetting. However, as soon as it happens you should call the credit card company immediately...and when you do there's one thing to do and that is...
Beg For Forgiveness
That's right...beg! Forget pride and get real. As soon as you get a credit card company representative on the phone, apologize like you've never apologized before. Don't panic, stay calm and make it clear to whoever you get through to that you're very sorry. Above all, be honest. If you forgot to pay, tell them, and if you didn't have the money, say that too.
Usually, credit card companies are lenient unless you act like a jerk, as the sensible ones want to keep you paying interest to them as long as they can get you to. So, its really not in their best interest to punish you. Be sure to express your appreciation when they let you off, and tell them it won't happen again. Also, during this conversation, never become angry or frustrated, as you are the one that broke the terms of the contract.
However, if a company won't let you off by waiving the late fees and not penalizing you by increasing the rate on the card companies tell them you'll transfer the balance to another card and close the account. But tell them this only if you are capable and willing to do it.
Transferring your entire balance to another card will make them sit up, take notice, and start making you better offers than you ever got before.
Plead For The Late Payment to Not be Put on Your Credit Report
Do everything you can to persuade the company not to add your late payment to your credit report, at least if you want to apply for any credit in the next few years. Remember that any late payment could be a black mark against your name for as long as ten years.
Ask to speak to the person's supervisor if they're unwilling and to their supervisor until you get what you want, but ot respectfully while all the time expressing your appreciation for what they are willing to do and have done.
If, however, you fail, don't worry about it too much. As long as there's only one late payment, it isn't life or death, especially once a year or so has gone by. It's the people who consistently pay late who get the truly terrible credit ratings.
Use This as a Lesson and Mail Your Payments Early
Here's the bottom line. It's just poor practice to wait until the day before the deadline to make your credit card payment, as there are just too many things that can go wrong. In a more general view, also never let your bills stack up on you, as letting them sit only increases the possibility that they don't get paid.
Personally, I'm a terrible bill payer, so I've scheduled my bills to be paid automatically from my checking account without me ever having to do anything else...and they are paid on time, every month. I just set the date and amount of the payments and forget about it...and wallah...I haven't had a missed credit card payment in years.
Ask nice, ask twice: Credit Card Companies - Still Waiving Fees