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Q: What is the late fee for a Discover card? How can I avoid paying this every month?
A: For your first late payment, Discover does not charge a late fee!
There is a fee for all of your following late payments, though. For four of Discover’s most popular cards, the late fee (after your 1st late payment) is $35. These cards include Discover it, Discover it Miles, Discover it Chrome, and Discover it for Students.
Discover lists the terms and conditions for all of their cards on their website. Select the appropriate tab (cashback cards, miles cards, business cards, or student cards), and click “see details.” When you scroll down, select “see terms and conditions,” and you should see a list of all of the important details about the card you chose, everything from the current APR to the late fee.
To avoid paying a late fee, always pay as soon as you receive your statement. If that’s not possible, try to pay at least a week before the payment is due. Checks take a few days to go through the mail, and even electronic payments can take a few days to process. Credit card companies can be sneaky sometimes, too, setting payment due dates for a specific time of day. Check the due date as soon as you receive your statement, and mark it on your calendar or phone so you don’t forget.
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.