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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.
Calculate how long it will take to pay off your credit card balance. Alternatively, use the second calculator to work out how much you should pay each month to eliminate your credit card balance completely in a set period of time.Please note that these calculators require JavaScript to be enabled in your browser.aying the absolute minimum on your credit card bill is great for your credit card company but bad for you. Many credit cards charge a very large rate of interest on the money that you borrow and most state that you only need to make a minimum payment each month (often about 2%).