Final answer:
If a credit card payment is late, the cardholder will incur a $10 late fee, plus an additional $5 for each day the payment is delayed. These penalties add to the debt and can negatively impact credit scores.
Step-by-step explanation:
When a cardholder fails to make a credit card payment on time, there are several consequences that can occur. First, the credit card company will likely charge a late fee, which in this case is stated to be $10. Additionally, if the payment remains unpaid, a further $5 a day will be charged each day the payment is overdue. These fees can add up quickly, making the debt harder to pay off. Furthermore, late payments can lead to higher interest rates on the outstanding balance, and can negatively affect the cardholder's credit score, which can make obtaining additional credit more difficult and expensive in the future.