gotroot
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| credit card late fees |
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Credit card late fees are a fact of life for some consumers, but they don�t have to be for you. Legally, credit card companies can hit you with pretty much whatever fees they want. Is that true?
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Tue Mar 21, 2006 8:55 pm |
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tvshooter
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As far as I know, yes, they can basically charge whatever they want. When you sign up for a card, you are accepting their terms.
IMHO, credit card late fees are only a "fact of life" for people who choose to live beyond their means.
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Fri Mar 24, 2006 4:47 pm |
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zellerscrossing
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Legally, credit companies basically have you by your cajones. The only fees i'm aware of are:
Late Fees: around $39
Over Credit Limit Fees: around $35
Interest Rate Fees: varies
Then there are of course pay by phone fees that usually run about $14.95 per transaction.
They can hit you with any fees they want, but you do have to meet the criteria (Be late, be OCL, or have an interest rate, etc....)
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Tue Jun 13, 2006 8:43 am |
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Greer
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In a way, yes, however all fees should be stated in the terms and conditions that you agree to when you sign up for the credit card. This is why it is so important that you read the terms and conditions before you sign up so you know exactly what you are getting yourself into and don't get caught out with a bunch of unknown fees when you least expect it.
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Thu Dec 10, 2009 1:25 am |
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muaz alwi
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Agree with you. Credit Card company use any method of charging interest. By research, credit card company tricked consumer with the worst credit card.
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Sun Dec 13, 2009 1:41 pm |
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CreditCardForum
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Fortunately since the Credit Card Reform wen into effect, the rules are much more in favor of the consumer. No longer can they charge whatever they want.
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Sun Sep 26, 2010 9:31 am |
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financegenie
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As per the government law the credit card defaulter pay would pay up to some extinct it not up to bank where they decide this defaulter will pay that and that defaulter will pay that. I Appreciate the government rule.
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Thu Sep 30, 2010 12:30 pm |
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dinashika
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Its depends on the credit card company. Some companies may charge hidden charges as a late fee. You can clarify these issue by discussing with the credit card company. Also read the terms of service to avoid these type of issues.
Last edited by dinashika on Thu Oct 14, 2010 3:28 pm; edited 1 time in total |
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Mon Oct 04, 2010 2:27 pm |
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major28385
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Thanks a lot for the information
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Tue Oct 05, 2010 9:14 am |
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jason_simpson
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The credit card late fees that credit card companies charge when you pay your bill past the due date nearly tripled in the recent years.
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Wed Oct 06, 2010 7:37 am |
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CaliChristian
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Yes read the fine print very carefully. They do have a right to raise or change your interest rate as time goes on and they will if you fall more and more into debt with them. Credit card holders are the source of income for credit card companies; how else do you think they make money? They make it off of YOU!
Just be careful and don't get into the habit of using plastic money all the time 
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Thu Oct 07, 2010 11:51 pm |
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Adria.John
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Credit Card Late Fees Are Going Up. Many companies now use a tiered penalty system that is based on your monthly balance, so the more you owe, the bigger the late fee if your credit card payment is late.
Loan Expert!
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Thu Oct 14, 2010 5:46 am |
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moonraker1
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The standard credit card late fes back in 2009 is $35. I heard the new govt regulations has triggered these credit card companies to raise up to $39 in order to keep the money what they have been making.
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Thu Oct 14, 2010 7:41 am |
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jameshyden01
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Ya it is true. Perhaps you don't know. When you paying extra money that time they count some extra expenses like agent comes to your home to takes that fees, and agent fess also.
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Sun Oct 24, 2010 6:06 am |
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financeculture
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Well when someone gets their first credit card all are happy and start shopping with the credit card the only thing they don't realize that someone has to pay for what they had shopping so always keep in mind that you should pay your credit card payment in time.
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Fri Nov 26, 2010 10:46 am |
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