Question: What is #1 reason that people give for paying their credit card bill late?
Answer: I forgot to make the payment
- Why do you think that so many people forget to pay their credit card bill?
- What do you think are some of the consequences of not paying your bill on time?
- What are steps that you can take so you are not one of those "forgetful" people who don't pay their bills on time?
Behind the numbers (NerdWallet):
Paying a credit card bill late can be costly. According to our survey, over 1 in 5 U.S. adults (21%) have made a delinquent credit card payment of 30 days or more late. Assuming each of those adults was charged a single first-time late payment fee (a maximum of $27), that’s over $1.4 billion in fees.
Help your students understand the consequences of not paying their credit card bill on-time with this NGPF Fine Print: Credit Card Agreement.