What happens if I miss two minimum payments in a row in the United States?

Missing more than one billing cycle usually means more fees and interest, and a higher chance a late payment shows on your credit report. Under U.S. credit-card rules, after about 60 days past due an issuer may raise the APR on the whole balance to a penalty rate if your agreement allows it. The account may later be limited, closed, or sent to collections if it stays unpaid. Exact steps are in your agreement.

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