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Late Fee

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The Credit Card late fee generally refers to the fee on a late payment to your credit provider.  If you are carrying a balance there will be a series of minimum payments due - if you do not pay these minimum payments, you will be charged a late fee.

An important thing to consider is that these minimum payments do not mean you are not paying interest on the rest of the balance - they are simply the minimum amount you need to pay in order for the credit card company to not report you to the credit bureaus.  Find more information about minimum payments here.