What are the late payment fees for credit cards?
In Nevada, late payment fees for credit cards depend on the credit card issuer. Generally, the amount of the late payment fee is based on the balance of the account. The fee can range from $25 to up to $35 for the first late payment. For any additional late payments within a six-month period, the fee can be as high as $38. Additionally, many credit card issuers also charge interest on the unpaid amount on the credit card. This interest rate can range from 14.9% to 29.9%, depending on the credit card issuer. Finally, it is important to note that some credit card issuers also charge a "returned payment fee" when a payment is returned by the bank. This fee can range from $25 to $35. In Nevada, credit card holders must be aware of all of these fees, as they can add up quickly. It is important to pay the credit card bill on time in order to avoid late payment fees and other charges. If you cannot pay the full amount due on the credit card, it is important to contact the credit card issuer to make alternative payment arrangements.
Related FAQs
What is a foreign transaction fee?What is a co-branded credit card?
What is a credit card processor?
How do I calculate my credit card APR?
What is a grace period for credit card payments?
What happens when I miss a credit card payment?
What is a grace period on a credit card?
What is a statement credit?
How do I close a credit card account?
What is the best type of credit card for me?
Related Blog Posts
The Basics of Credit Card Law: What You Need to Know - July 31, 2023The Pros and Cons of Credit Card Use - August 7, 2023
What Is the CARD Act and How Does It Impact You? - August 14, 2023
5 Tips for Understanding Credit Card Law - August 21, 2023
Understanding the FDCPA and Its Impact on Credit Card Law - August 28, 2023