Missed bill payments happen to the best of us, and in many cases, the fix is as easy as covering the balance and moving on with your life. But credit card debt can get out of hand quickly if you're not on top of your amount owed and due dates. The average American household has around $8,000 in credit card debt, and nearly 9% fell behind on their payments in the first quarter of 2024. In fact, credit card delinquencies are at their highest level since the Federal Reserve started collecting data in 2012. Here's what happens if your credit card is delinquent—and how to deal with it. What is credit card delinquency?Credit card delinquency simply means that you've missed a payment: as little as
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