What happens if I miss a payment?

When a customer misses a payment on their Bloomingdale's Credit account, several consequences may occur. First, late fees are typically assessed, which can vary based on the account's terms and conditions. This late fee can add to the overall balance, making it important for customers to understand the terms of their specific account regarding payment deadlines and related charges. In addition to late fees, missing a payment can affect the account holder's credit score. Payment history is a significant factor in credit scoring models, and a missed payment may be reported to credit bureaus, potentially impacting the individual's creditworthiness. Furthermore, continued late payments could lead to the account being classified as delinquent, which can have more severe repercussions, including increased interest rates or account suspension. Customers are encouraged to keep track of their payment schedules and consider setting reminders to avoid missing due dates. For information about late fees or payment policies, customers can refer to the information available on the Bloomingdale's website or within their account management section.