Late payment fees for credit cards

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  • BenutzernameMoneyland User Questions
  • Status Member
  • Registriert seit1/27/17
  • Beiträge2142

After a move, I did not recieve my credit card bill at my new address for over a month. Now that I've received my statement, I noticed that the issuer charged me a late payment fee for the month when I did not receive my bill.

Shouldn't they try to call me if the mail is returned? I feel it is unfair that they charge me a late payment fee in this case. Does anyone have experience with this?

 
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  • BenutzernameMoneyguru von moneyland.ch
  • OrtSchweiz
  • Status Expert
  • Registriert seit8/4/15
  • Beiträge4017

Credit card issuers generally charge late payment fees. Worse yet, late payments may be reported to the ZEK credit bureau and negatively affect your credit history.

To avoid this, it is important that you inform your credit card issuer of your move ahead of time. If you move fairly often, you may want to consider receiving your credit card bills at a post office box rather than at your home. If you are comfortable with electronic billing, you can ask your issuer to bill you via email.

Setting up a recurring transfer which covers at least the minimum monthly payment required can help prevent late payments and subsequent fees and damage to your credit records.

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