If the minimum payment isn’t received on time your credit usually won’t be affected right away, but interest will begin to accumulate. You may also be charged a late payment fee in the range of $25.00 – $35.00. Additionally, interest rates will most likely increase as the APR increases. All these charges can add up fast. However, you should know that a missed payment doesn’t mean that all is lost. If you start making timely payments, and your payment is received within 30 days of the due date, your late payment will not appear on your credit report. Additionally, if you call your credit card company with a valid excuse they may waive the late payment fee as a one-time courtesy.