I Got Charged Late Fees on My Credit Card. What Can I Do?

blr-editor | November 15, 2011 | Comments (0)

Call your credit card company to have late fees waived

Dear BLR Editor,

I just signed up for a couple of credit cards recently and hadn’t put them in my billpay just yet. Unfortunately, the bills ended up being a couple days late and I’ve been slapped late fees of $25 and $35, respectively.

One of the cards also threatened to raise my interest rate if I had another late payment. I’ve put them in my billpay now, but those late fees irritate the heck out me. What can I do about it?

- Janet

Editor- Dear Janet,

Thanks for writing. Many credit card companies will charge you a late fee if you are even a day over. That’s the bad news.

The good news is that there’s a couple things you can do about it if this is a first- or second-time occurrence. Call the credit card companies and tell them exactly what you wrote: this was an oversight on your part.

If they do not offer to waive this charge “just this one time“, ask for a waiver. Nine times out of ten, they’ll do it without blinking. If the rep refuses, don’t argue, just drop the phone, wait a few minutes and call again.

If that doesn’t work, ask for a manager the third time around. Don’t get angry, stay courteous, but play your story again like a broken record.

If you cannot get a reprieve, then its time for a bigger weapon: threaten to leave. Credit card companies know that it is cheaper to keep and existing customer than to get a new one. If you do that, they may fold.

Good luck with those phone calls. They should resolve your situation.

Editor