 Two payment cycles missed, 60 or more days, credit issuers begin wielding the high-risk label. Once the 90-day mark's violated, some banks will begin to seek to recover the full balance owed. Past 120 days and the debt is charged off, transferred to a third party. More damage to your credit rating. To avoid all of that, try to pay off your debts within the month they're charged and you'll avoid paying interest. For more, check out Bankrate.com.