The Harrogate golfer fired a 78 at the South African Open to plummet from two under overnight to four over par.
The 25-year-old was three under at the turn but dropped seven shots coming in, including a triple bogey on a par five.
He is currently 126th on the Race to Dubai rankings with the top 115 earning full playing rights for next season.
It is a remarkable fall for Parry who won a tournament and finished third in a high-profile event in his first season on tour in 2010.
That win in the Vivendi Cup in Paris last September did not carry the two-year exemption that most other tournaments carry, meaning he faces the prospect of losing his card just 14 months after registering victory.
Because he is comfortably inside the top 150 he will retain some playing honours that will allow him into around 15 of the lower-level tournaments next year.
But to ensure full status Parry will either have to finish in the top five on his season-ending appearance at the Hong Kong Open next week or go back to qualifying school in Spain over the coming weeks.
Malton’s Simon Dyson failed to qualify for the weekend after a 73 left him one shot outside the cut mark. Hull’s Richard Finch and Sheffield’s Neil Cheetham also headed home after rounds of 77 and 73 respectively. Scotland’s Steven O’Hara leads by one on 11-under par from Retief Goosen.
Ireland joined Australia at the top of the World Cup leaderboard after a 68 from Rory McIlroy and Graeme McDowell in yesterday’s foursomes lifted them to 13 under par.
Starting the day two behind overnight leaders Australia, the Northern Irish duo produced six birdies and two bogeys in the alternate shot format at the Mission Hills Resort on Hainan Island in China.It moved them level with Richard Green and Brendon Jones, who posted a 70. Scotland, meanwhile, are one off the pace on 12 under following a 69.
“Today was good,” said McIlroy.
“Both of us are very pleased about the score that we ended up shooting today. Anything in the 60s in the foursomes format is a very reasonable score out there.
The English pair of Justin Rose and Ian Poulter remain in touching distance on nine under following a 69.
Marcus Fraser held a two-stroke lead at the Australian PGA Championship following a second-round 65 but a host of big names, including Bubba Watson, Robert Allenby and Adam Scott, remain in contention at Coolum.