What are the late payment fees for credit cards?

The late payment fees for credit cards in Tennessee vary depending on the issuer of the card. Generally, the late payment fees range from $25 to $39. However, banks and credit unions that issue credit cards are not allowed to charge more than two late payment fees of $25 each within a 12-month period. Additionally, if the payment due date is before the end of the grace period, the bank or credit union cannot charge a late payment fee. Also, the late payment fee must not exceed the lesser of 5% of the payment due or $50. Furthermore, the creditor must not charge a late payment fee if the customer notifies the creditor that they intend to dispute the charge before the payment due date. It is important to understand the various fees and rules that surround using a credit card in order to avoid any costly fees. By understanding the late payment fees for credit cards in Tennessee and making sure that those payments are made on time, customers can avoid any unwanted additional fees and keep their credit score healthy.

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What are the late payment fees for credit cards?

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