Credit Card Late Fee Reversal - No Big Deal
In the last year, I have opened up many, (probably?) too many credit credits. I usually only open up a new card when the rewards scheme is significantly better or when the sign up bonus is too tough to pass up.
Whenever I sign up for a new card I make sure to set up automatic payments so that I never get a late fee.
I got pretty lucky a few months back and I was able to get a $400 sign up bonus for the Bank of America Cash Rewards cards (expired - sorry) even though I already had the same exact card.
Unfortunately, I thought I had signed up for automatic payments, but I forgot!
I also always get statements sent in the mail, otherwise I won't look at them. When I saw my statement for this card I had a $25 late fee! I hate late fees. You lose extra money and it hurts your credit.
It's important to know that these fees can almost always be reversed if you catch them in time.
I called last night to pay the $500 bill (why would I spend more than necessary to the get the bonus). Once that bill is posted, I confirmed that I can call up again and have the fee reversed. This has happened a handful of times to me and I have always been able to get the fee reversed. You can usually even do it via email from inside your account.
Some companies will even allow fees to be reversed months and years later if it only happened once. Just call and find out.
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