Glossary Terms: Late Payment Fee

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Credit Card Applications » Glossary » Late Payment Fee

Late Payment Fee

If payments are not made on time, all credit card companies will charge a late payment fee. This fee is often around $35, though it varies from card to card. It may be a flat fee or it might also be a percentage of the total balance. Check the terms and conditions to find out what your credit card’s late fee is. Always make the minimum payment on time. If a payment is made for less than the minimum due, the account will be considered past due and a late charge will be assessed.

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