What are the late payment fee and the over-limit fee on a credit card? | Ask Banky

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

What are the late payment fee and the over-limit fee on a credit card?

Asked by Banky team 2 months ago 1 views
Banky team Reviewed editorial answer

If you do not pay even the minimum payment by the due date, a flat late payment fee is charged and a late payment is recorded in your credit report (I-Score).

And if your purchases exceed the credit limit granted to you, an over-limit fee is charged.

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