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Terms that begin with L

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.


Previous Credit Card Term: Last Payment Received

Next Credit Card Term: Liability on an Account


* See the online credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the "Apply Here" button, you can review the credit card terms and conditions on issuers website.