What are the late payment fees for credit cards?

In Montana, the law states that late payment fees for credit cards may not exceed $25. Additionally, there are certain situations in which a credit card company cannot charge late fees, including when the credit card payment is delayed due to a delay in processing a customer’s payment or when the customer’s statement includes incorrect information. In these cases, the credit card company may not charge a late fee. If a credit card company does decide to charge a late fee, the consumer must be given a minimum of 21 days to pay the bill before the fee can be charged. Still, the late fee cannot exceed $25 and the credit card company cannot charge additional penalties or fees in addition to the late fee. For customers who make a payment more than ten days late (but no more than 25 days late), the card issuer must also provide the customer with an opportunity to avoid the late payment fee. The card issuer must provide the customer with written notice of the fee and offer the customer an opportunity to make an alternative payment arrangement. Overall, the late payment fees in Montana for credit cards are limited to $25. If customers are ever unable to pay on time, they should contact their credit card issuer to find out what their options are.

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What are the late payment fees for credit cards?

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