Credit cards and late fee's

Is it legal to say you charge a late fee by the balance due , and one month when your charged your balance is high and when the next time your late and your balance is lower the late fee is more than it was on the higher balance due . They say they charge by the balance due so how can they charge me a larger late fee on a smaller balance .What can i do about this?[list]testtest

Hi katzepeda. I'm not sure I follow but would be more than happy to help if I can. Can you explain a little more clearly what exactly it is that you're asking?testtest

This message was edited 2 times. Last update was at 10/02/2009

hi every body The Credit cards have become a common means of paying bills. It is very convenient because you need not make any cash payments from your pocket. Though credit cards are easy to use, they come with a fee that is charged by the credit card company. It is advisable to pay credit card fees on time because being late will cost you a lot of money.

Many credit card companies charge a penalty for late fees, so it is advisable to pay up in time, to avoid the penalty. The average late fee for credit card used to be 12 dollars in 1994; by 2004, it rose to 32.65 dollars. It has now gone up to a whopping 39-40 dollars. Hence, it is prudent not to delay your payment.

You can stay away from late fees by various methods.

1. The best way to avoid late fees is to be fully aware of all the conditions and restrictions related to your credit card company. You can get the information of the guidelines on the back of the credit card bill that your company sends you. Try to make use of the specified instructions of payment in order to ensure that your money
reaches them on time, without any problem.

2. Having a good record can always help. As a responsible credit card user, you must try to maintain a good record of your payments because many companies that issue credit cards make considerations on the late fees if you have a good payment record. They do this as a special courtesy for their responsible customers.

3. If you forget to pay your credit card fees, and the due date is already upon you, you can avoid the late fees by paying via the telephone, instead of using the mail. To enable this, there is a toll free number on the back of every credit card. In order to make payment you need a check number and a bank routing number. You can find these numbers at the bottom of every check. Once you make the payment you should tear off that check, as you cannot use it again. Some debt advice companies keep this facility free of cost for their customers while others charge about 5 to 20 dollars. Make it a point to ask your credit card company about this facility.

4. In case your company does not offer you the facility to pay your bills by phone, then you can always use express mail for payments. Although using the express method may cost you extra money, it will be less than the late fee that your issuer may impose on you. Besides, it will help you send your money to the company as soon as possible.

5. Try paying online. Many companies accept payment through the Internet. This method can prove to be very useful if you are traveling.

6. If you do not have the required cash to pay your bills and the due date is approaching, then you can talk to your credit card company and set your own due date for payment. Set the due date at a time when your salary arrives. Hence, enabling you to pay your bills without late fees.

Therefore, in order to keep your credit card use hassle-free, remember to make your payments on time and in the right manner specified by your credit card issuer. Try and stay out of the late-payment cycle to avoid the extra cost in the form of late fees.
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Welcome to the Credit.com forum rockstarbabu! Thank you for sharing your helpful tips and advice!

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