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Late Charge |
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A late charge is a fee a credit card issuer will charge the cardholder for every credit card payment received after the payment due date. The typical late charge has increased during the past few years, and late charges in excess of $30 are quite common today. Some late charges fluctuate and are based on the cardholder’s current balance – the higher the balance, the higher the late charge. The way a late charge is calculated will be defined in the card holder agreement. A late charge is the easiest fee to avoid. Just send payments far enough in advance to ensure each arrives on time.
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Credit Card Definitions > F - M > Late Charge
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