What is a Late Fee and When Does It Kick In?

Being late to anything can be problematic, but a late credit card payment can be especially painful.  If you’re even a day late paying your bill, expect to see a late fee added to your next statement.  At least the Credit CARD Act of 2009 capped those late fees at $25. ($35 if you have more than one late payment in 6 months).

Good Credit Sense:

Setting up an automatic payment feature with your card issuer can minimize the risk that you’ll end up paying a late fee.