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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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