If you have multiple credit cards and are worried you won’t be able to make payments on all of them, consider using a debt consolidation calculator, as it can help you find a way to streamline multiple payments into one.
Interest on outstanding balances will compound until the balance is paid off in full. So, if your balance increased last month due to an interest charge, you’ll now pay interest on top of the old balance plus the interest.
Your cardholder agreement will let you know if there are any penalties for late or missed payments. Typically the charge is anywhere from $29 – $59 and is subject to interest if not paid off before the next statement closing date.