As more and more Americans are losing their jobs, earning less money, and struggling through the credit crunch, delinquency rates on credit card bills is shooting higher. This usually comes with a late fee somewhere close to $30-$40.
According to a recent study conducted by Cardhub.com, many of the major credit card issuers will revoke all reward points earned in the billing cycle during the delinquency. The Discover card has been known to revoke all points or miles from the customers reward program if the customer is late for two consecutive months.
Except for the consumer is warranted. Consumers earning valuable rewards, should protect these rewards by at least making the minimum payments, rather than letting the payments go delinquent.
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