credmitra

Forgetting to pay your credit card bill on time can happen to anyone. Maybe you were busy, traveling, or just missed the reminder. But what really happens if you’re late by just one day? Does it attract heavy penalties, or will your credit score be damaged forever? Let’s break it down clearly and simply. In the Indian banking system, a one-day delay might seem harmless at first, but it can come with a few consequences depending on your card issuer’s policy. Understanding these effects can help you stay financially smart and avoid future stress.                                 1. Late Payment Charges Can Still Apply Most banks in India, like HDFC, SBI, Axis, and ICICI, charge a late payment fee if the payment is not received by the due date. Even a one-day delay can trigger this fee. These charges vary depending on your total outstanding amount. For example, if your balance ...