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Late payment fee
When you have any type of revolving charge account the creditor will send you a monthly statement notifying you of any new charges, payments, balances, and notify you of when your next payment is due. If your payment is received after the specified due date (or is not received at all), a late payment fee will be tacked onto your next bill. Late payment fees may range from around $35-40, and in some cases more. Many credit cards charge higher fees the higher your outstanding balance.
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