# Late Fee

*Borrowing & Credit — Finicade finance glossary*

A late fee is a flat charge for missing a payment due date, commonly $25–$40 on a credit card. The fee is the small part of the damage: a payment 30 days late gets reported to the bureaus and can cost a high credit score 80–110 points, and some issuers apply a penalty APR. Because scoring damage begins at 30 days, calling to pay on day 5 usually avoids the report entirely, and first-time fees are often waived on request.

**Also known as:** late payment fee, penalty fee

**Related terms:** [Minimum Payment](https://finicade.com/glossary/minimum-payment), [Credit Card](https://finicade.com/glossary/credit-card), [Delinquency](https://finicade.com/glossary/delinquency), [Autopay](https://finicade.com/glossary/autopay), [Credit Score](https://finicade.com/glossary/credit-score)

Source: https://finicade.com/glossary/late-fee