What can happen if someone frequently misses credit card payments?

Frequent missed credit card payments can lead to significant financial consequences, primarily in the form of late fees and increased interest rates. When payments are missed, credit card issuers typically assess a late fee, which can add a considerable amount to the balance owed. Additionally, consistent lateness can result in a rise in the interest rate on the remaining balance, meaning that any future charges will accrue interest at a higher rate, making debt more expensive to repay.

Moreover, this behavior negatively impacts the consumer's credit score, leading to further complications when attempting to secure loans or credit in the future. Late payments are reported to credit bureaus, which can diminish a person's creditworthiness and make it more challenging to obtain favorable loan terms. Due to the serious repercussions associated with missing payments, this choice accurately reflects the likely outcomes of such actions.