Quick summary: New research reveals that 35% of UK credit card holders have missed a payment within the past year, with confusion over due dates and basic forgetfulness emerging as primary drivers of this widespread issue. This collective oversight costs consumers nearly £1.25 billion annually in late fees and interest charges, while simultaneously triggering severe financial anxiety and sleep disruption for millions of individuals. Addressing these vulnerabilities through automated direct debits and improved consumer education is essential for public policy and healthcare practice to protect household financial stability and mitigate the broader societal impacts on mental health and domestic well being.
More than a third of UK credit card holders have missed a payment in the past year, with confusion over due dates emerging as one of the leading causes, according to new research by credit card provider Zable.
The survey of 2,000 UK credit card holders found that 35%, equivalent to around 12 million people nationwide, had failed to pay a credit card bill within the past 12 months.
The most common reasons cited for missing a payment were
- Thinking the due date was later than it actually was: 25.25%
- Forgetting to make the payment: 24.96%
- Not having enough money in the account: 23.55%
- Being distracted by life events: 22.27%
- Believing an automated payment had already been made: 21.70%
Due date confusion alone affects an estimated three million credit card holders.
Financial and emotional costs
Among those who missed payments, the average reported loss from late payment fees was £48 per year, equivalent to four late fees at the industry standard rate of £12. Respondents also reported an average additional £52 in interest charges resulting from missed payments.
Across all UK credit card users who missed payments, Zable estimates this amounted to nearly £1.25 billion in late fees and interest over the past year.
The survey also highlighted the emotional impact of missed payments. Around 12% of respondents said they experienced anxiety and sleep disruption after missing a payment, rising to 26% among those aged 18–24.
Nearly 2.5 million credit card holders, or 7%, said missed payments had strained their relationships.
Meanwhile, 14% reported increased financial stress following a missed payment, equivalent to an estimated five million credit card users. Among people aged 35–44, the figure rose to almost a quarter.
Gaps in financial confidence
The research found that women reported lower confidence than men across every area of credit card knowledge examined.
Confidence levels among men and women were
| Area | Men | Women |
|---|---|---|
| How minimum payments are calculated | 74.98% | 70.41% |
| How late payment fees are calculated | 70.69% | 63.29% |
| How interest is charged | 78.86% | 69.81% |
| Balance transfer terms | 78.17% | 69.81% |
| How credit limits are set | 72.28% | 68.51% |
The survey also found that 1 in 4 credit card users are unclear about how credit limits are determined.
Calls for better payment habits
James Goforth, Product Manager at Zable, said: “A missed payment can have immediate and longer-term consequences, but there are practical ways to reduce the risk. Setting up payment reminders, enabling app notifications, checking due dates at the same point each month, and automating payments where possible can all help create stronger routines.”
“For some people, missing a payment isn’t about forgetting at all, it’s about timing. Income and outgoings don’t always align, and a payment due date that falls in the wrong part of the month can create a shortfall. If that’s a recurring issue, it’s worth contacting your provider to discuss moving your payment date to better fit your pay cycle.”
Experts note that missed payments can also damage credit scores, potentially making future borrowing more difficult or expensive. The findings come amid wider discussions about consumer debt and financial well-being, with many households managing multiple financial commitments. Practical measures such as direct debits for minimum payments, and calendar reminders can help reduce the risk of missed bills.