A common way people misuse their cards is paying bills late. Just over 20 percent of Americans say they've made a delinquent credit card payment, meaning they were at least 30 days overdue, according to NerdWallet's 2018 Consumer Credit Card Report. In the first quarter of 2018 alone, $23 billion worth of all credit card debt in the U.S. was delinquent.
Your first late payment fee is at most $27 but, if you continue paying late, the penalties can get as high as $38, depending on your agreement with your credit card issuer. For the 21 percent of Americans who have made a delinquent payment, the first-time late fees alone add up to more than $1.4 billion, NerdWallet points out.
"Being delinquent on your credit card can have a huge negative impact on your finances. Not only do you have to pay late fees, but the interest can grow over time and in some cases your credit score drops, too, making future loans more expensive for you," says NerdWallet credit card expert Kimberly Palmer.