If you miss any payment or experience an increase in credit utilization rate, your credit score will begin to suffer.
Affects of making minimum payment on credit score
Paying only the minimum amount due on your credit card bill could impact your credit score and cause you to pay a lot in interest. The way a customer uses his/her credit card can significantly affect their credit score. Paying your credit card bills on time and maintaining a low balance on your credit card is important as it directly impacts your credit score.
