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Worse, late payment may cause you to forfeit some or all of the rewards you've accumulated. By the time your account is 180 days late, i.e. you've missed six payments, the card issuer will typically charge-off the account, writing it off as a loss. The charge-off goes on your credit report and stays for seven years.
For credit cards, this is usually 21-25 days. Then the guide calls for a 30-day grace period, which begins on the day after the payment due date. So youâre likely to have from 51 to 55 days from the day you make a charge until your late bill payment is reported to a credit bureau.