Q: Is there a late fee if I don’t pay my Chase balance on time? If so, what is it?
A: For two of Chase’s popular cards, Freedom and Slate, the late fee is $35.
For Chase Sapphire, the fee structure is a little more complicated. For those customers with balances below $100, the late fee is $15. For those with a balance between $100 and $250, the late fee is $25. Finally, those customers with a balance of $250 and above will pay a $35 late fee.
Chase’s business cards, such as Ink and Ink Cash, also have a tiered fee structure: $15 for balances under $100, $29 for balances between $100 and $250, and $39 for balances of $250 and up.
Most of the popular Chase credit cards were covered above, but if the Chase card that you have is not listed, check your credit card agreement for the fee. If you do not have your credit card agreement on hand or don’t yet have a Chase card, Chase lists its late fees on the website. Check www.Chase.com and look for “pricing & terms” on your favorite card.
To avoid having to pay late fees, make sure you always know when your credit card payment is due, and send it in at least a week beforehand, even if you’re paying online. Bank transfers take a few days. If you have trouble remembering, try setting an alert on your phone or marking the due date on your calendar. And remember, in addition to late fees, credit card companies will often raise your rates for a late or missed payment. Avoid this by paying your credit card bill early.
Credit Shout is a community of personal finance experts dedicated to helping you save money and make smart financial decisions. Learn how to master your credit card rewards, improve your credit score and start eliminating your debt.