What is Late Fee?
Credit Card Glossary · Updated April 2026
A charge applied when you fail to make at least the minimum payment by the due date. As of 2026, the CFPB has capped credit card late fees at $8 (previously $30-$41). Late payments can also trigger a penalty APR and negatively impact your credit score.
Frequently asked questions
What is Late Fee?⌄
A charge applied when you fail to make at least the minimum payment by the due date.
What does Late Fee mean on a credit card?⌄
A charge applied when you fail to make at least the minimum payment by the due date. As of 2026, the CFPB has capped credit card late fees at $8 (previously $30-$41). Late payments can also trigger a penalty APR and negatively impact your credit score.
What terms are related to Late Fee?⌄
Closely related concepts include Due Date. Each of these helps clarify different aspects of the same topic.
Where does Late Fee apply?⌄
Late Fee is a fees concept. It typically appears in the context of fees, APR, and how much a card costs to carry.
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