Failure to keep up with credit card payments can severely affect one's credit score, especially during financial difficulties. Some credit card companies offer relief options, like the ability to pause payments, especially for users experiencing sudden changes in employment. It's important to communicate openly with credit issuers about any financial hardships. Proactive steps taken can prevent late payments, which are regularly reported to credit bureaus and can negatively impact otherwise healthy credit histories. Options are available to ensure one's financial obligations are manageable during tough times.
Not keeping up with credit card payments could damage your credit score.
Credit card companies may be willing to work with you if you're experiencing a change in financial circumstances.
When you encounter a financial hardship, it's wise to talk to your credit card issuer.
Even a single late payment could damage an otherwise solid credit score.
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