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Payment Basics: Late Fees

 

Credit Cards

 

If you do not pay your minimum payment by the due date, you will be charged a late payment fee of $25. It will be $35 if you make another late payment in the following 6 billing periods. However, you will not be charged a late payment fee that is greater than your minimum payment due. For example, if the minimum payment due on your statement is $20, your late payment fee will not be more than $20.

 

Charge Cards

 

If you pay late, the fee will be $25 or $35 if you make another late payment in the following six billing periods. However, if you don't pay for two billing periods in a row, the late fee will be the greater of $35 or 2.99% of the past due amount.

 

Returned Check Fees

 

If your payment is returned unpaid by your bank (also known as "bouncing a check," your returned check fee will be $25. It will be $35 if your bank returns another payment from you in the following 6 billing periods. However, you will not be charged a returned payment fee that is greater than your minimum payment that was due before the date the check was returned. For example, if the minimum payment was $20, your returned payment fee will not be more than $20.

 

Overlimit Fees

 

There is no fee if your account goes overlimit. American Express voluntarily eliminated overlimit fees in October 2009.

       
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