People who fail to keep up with some of their monthly payments may find that they have more than just their credit score to worry about, according to one recent report.

The Associated Press reported this week that some American Express customers have been notified that if they fail to make their monthly payment on time, they will forfeit any miles or points they earned on purchases that particular month.

The wire service goes on to say that people who want the miles or points back will have to pay a $29 fee, as well as all applicable late fees and penalty interest rates. Other American Express cards have reportedly included similar provisions in recent years, and other lenders are said to have comparable policies for late payments.

Looking ahead, this could be one tactic that becomes more common in the credit card industry as lenders try to recoup weakened profits in the face of federal reforms that by February will limit the fees and interest rates companies can impose for late payments.

By making payments late on any card, consumers can find that their credit score will be damaged for up to seven years, depending on the frequency that this happens and the amount of time a bill is overdue by.

After six months of non-payment, a credit card company will often decide to charge off a customer’s debt. In this case, they are still responsible for the debt and will see the damage on their credit score for seven years, but the account will be essentially closed down.

Another piece of news of interest to cardholders with frequent flier mile benefits came recently from the office of Senator Charles Schumer, a New York Democrat. Schumer is urging the Department of Transportation to review consumer complaints about various ways they have lost their miles because they expired, among other causes.

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