How much on average are the fees for late payment on credit cards?
And if you pay something but not the minimum payment, will you still get late fees
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$29 to $34 or a percentage of the amount you are past due. Call the number on your statement or back of the card for specifics. Also, be aware that missing even one payment can jack your interest rate up to the default rate, usually well above 20%.
Generally between $29-$35. Some cards will let you make a phone payment on the same day for $10-14.95. Online is always a plus for those who want to make sure they don’t miss payments because some credit card companies have auto payments. or let you schedule a payment months in advance.
Add approximately 18% on the balance owing and you have your amount.
Always pay 100% of your balance….when continuing to pay the minimum fee you are paying up to 80% of your hard earned money toward the interest not the principal.
Late fees will always apply if you do not pay the entire balance of your credit card bill. This is one, of many ways, they earn their money.
Blessings,
K
You ARE asking about CREDIT CARD INTEREST right?
Banking fees are different.
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November 26th, 2009 at 7:39 pm
i think they’re 25 bucks. but here’s some advice, if you can’t even make the minimum payment don’t pay anything! you’re only going to be throwing your money away in the long run. just call the credit card company and see if you can work out a new payment plan.