On what basis does the bank derive at a late payment... - Limited/Bad/Fair Credit Questions

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Credit Card Applications » Questions » User Questions » Limited/Bad/Fair Credit » On what basis does the bank derive at a late payment fee?

On what basis does the bank derive at a late payment fee?

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The late payment fee amount may differ from one bank to another; some have the fee based on balance left on one’s card. This however is great for consumers with less balance amount, and is a cause for concern for those with a high balance amount. The current data shows the highest late payment fee at $35, for a balance that is $1000 and above.

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