Why did my credit card issuer increase my late payment fee?
The amount a credit card company is allowed to charge for a late fee can increase between the initial and any subsequent late payments, but there’s a cap on how much they can charge.
If your credit card payment is late, the credit card company can charge you a late fee, even after your first time missing a payment. That fee generally increases after any subsequent missed or delayed payments.
The amount companies can charge for late fee penalties is regulated by law and it may vary from year to year.
If you are late a second time within the next six billing cycles – typically a billing cycle is one month – the late fee amount can increase, but it can never be more than the minimum amount due.