What Happens if You Make Late JC Penney Credit Card Payments?


JCPenney offers a credit card to consumers that comes with some nice benefits. There are nice rewards that you can use to save money on future purchases. There are great benefits that will allow you to earn special savings passes, coupons and discounts, and there are some great benefits associated with using the card. In addition to easy online banking with JCPenney you have several different payment options, several ways in which you can contact customer service and many ways in which you can use the card to your benefit. Of course, you have to use the card wisely for it to benefit you in the least. The two most important things you can do are make timely payments on your JCPenney credit card and not allow your balance to go unpaid. If you want to keep your credit intact, you will do both. Otherwise, you will suffer the consequences. Here’s what happens if your JCPenney credit card payments are late.

You’ll Be Charged a Late Fee

If your payment is late, a late fee will be charged to your account. This is a fee in the amount of $35. It doesn’t matter if the total amount due this month was a paltry $35. If it’s paid even one second after the due date passes, you will pay an additional $35 to the company that issued the card to you. If you have never made a late payment in the past six months, the fee will only be $25 for your first late payment. And if the minimum amount due is less than the late payment fee, the late payment fee will not exceed that.

You’ll See it On Your Credit Report

Not all card companies are the same. JCPenney will not specify when they issue their late payment reporting to the credit bureaus, so assume that they will notify them immediately. You don’t want a single late payment to affect your credit rating.

You’ll See Your Interest Rates Rise

Whether you have a low interest rate or you have a special financing interest rate, JCPenney reserves the right to cancel the terms of your agreement if you make a late payment. Don’t be surprised if you see your interest rates skyrocket and your special financing terms go out the window if you make even one late payment.

Photo by Michael Loccisano/Getty Images for JCPenney


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