Constantly making late payments may be a sign that you’ve become overwhelmed by your debt. It’s an expensive mistake, and if repeated, it could cost you a lot of money. Why? Because the Consumer Financial Protection Bureau has increased the maximum fee.
So, if you pay late once, your credit company can charge a maximum of $27 as a fee. But beginning in 2017, card companies can charge up to $38 for the second late payment.
Do whatever you have to do to pay your bills on time.