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How I Got a Credit Card Late Fee Waived

credit card late fee waived

Know how to get that late fee waived?

We'll all make mistakes. Here's one of my recent errors.

I use a couple of different credit cards every month to pay my bills and handle basic spending (groceries, gas, etc.). I also have one random card that I use to pay my traffic toll tag automatically.

About once every other month a new toll charge hits. This card, unfortunately, can't be paid automatically. At least I couldn't figure out how to pay it automatically. It's a Bank of America card.

As an aside, I recommend that everyone sets up automatic payments on their credit cards. That way your entire balance is paid off each month without you having to remember. It's just a good system to have in place for all of your cards.

My Credit Card Late Fee

Long story, short, I missed the payment deadline on this randomly used card, and didn't realize it until a couple of days later. Once I realized it, I immediately panicked and logged into my online account. There it was: a $39 late fee. Ouch!

My first thought was that I need to remove the automatic toll charge that hits my card every other month. That's a recipe for disaster. A more routine, monthly bill would be better suited for keeping this card active. Which was my purpose all along.

My next thought was to make a call and ask for forgiveness. I figured it didn't hurt to ask. So that's what I did. I called up the bank and begged to have the credit card late fee waived, sighting my prior clean record. It worked! The rep took my payment (from my other bank debit card), and waived the late fee! Woot!

I could have called and yelled at the rep. But I don't think that would have worked as effectively. I think it's key in these situations to take the passive approach.

You are far more likely to get the result you need if you play it cool. Especially if it's your first offense. If you can't convince the rep in a nice way, then I suggest asking to speak to their supervisor: someone who can waive the fee for you.

Keep working your way calmly up the chain of command until you get the outcome you desire.

Lessons Learned From the Credit Card Late Fee

I guess the moral of the story is to always ask to have your credit card late fee waived. Odds are, if it's your first time, they will waive the fee. If it's your second offense, you may have to work a bit harder.

The other lesson learned is to setup automatic payments to your card so that it's paid off in full each month. If your bank doesn't offer this service, then it may be time to switch banks or stop using that card.

Update: I've since moved my checking entirely to Capital One 360 and my credit card use has all been shifted to the Chase Freedom. I pay my credit card off each month in full using an automatic withdrawal from my Capital One 360 checking account.

How have you handled an accidental late fee on your credit card?

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Last Edited: January 31, 2017 @ 9:24 am
About Philip Taylor

Philip Taylor, aka "PT", is a former practicing CPA, blogger, podcaster, husband, and father of three. PT is also the founder and CEO of FinCon, the conference and community dedicated to helping other financial influencers and brands. He created this website back in 2007 to share his thoughts on money, hold himself accountable, and to meet others passionate about moving toward financial independence.

PT uses Personal Capital to keep track of his financial life. This free software allows him to review his net worth regularly, analyze his investments, and make decisions about his financial future.

PT keeps a portion of his emergency fund in Betterment, the automatic investing tool that makes investing super simple. Betterment focuses on what matters most: savings rate, time in the market, investing costs, and taxes. PT recommends this service to anyone looking to get started investing for themselves.

All the content on this blog is original and created or edited by PT.

Comments

  1. Tamara @ Lead Generation says:

    You can try calling up the bank and ask for them to hold your account. You will pay extra charges but it will lose some burden in mind.

  2. Jenna, Adaptu Community Manager says:

    I’ve made that call before. 20 minutes of being on hold is worth $40 to me!

  3. I think there’s some sort of ‘unspoken’ rule with credit card companies in that most of they will forgive a late fee if it’s your first offense in a 12 month period. You just have to call and ask 🙂

  4. I had a overdraft fee on my account last year after some money that I thought I had transferred, didn’t actually transfer – and I overdrew my account on several transactions. Of course the the bank charged for each and every single one of those charges – each one having it’s own overdraft charge. In the end I had a couple hundred dollars in overdraft charges.

    In the end I called them up and nicely asked for them to remove all the charges citing my stellar previous history. While they didn’t remove all of them, they removed all but one of them -saving me $170 or so. Never hurts to ask!

    • Philip Taylor says:

      That’s a nice savings, Pete. Who do they actually get to pay these over the top fees? That’s the question, I guess.