What Are the Late Fees for Capital One Credit Cards?

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Late fees for charges on your credit card sting! Not only are you charged interest on your credit card balance because you did not pay it off within the grace period, but you also have to pay a hefty penalty on top of it.

Obviously the easiest way to avoid a late fee is to pay your Capital One credit card on time (you can use our new Android app for debt payment reminders). But if you are beyond that and found yourself slapped with a late fate, you should know that it doesn’t mean you cannot get the fee removed altogether and start with a clean slate.

Let’s dive into Capital One late fee information so that I can show you what I mean.

Late Fees for Popular Capital One Credit Cards

Capital One offers a plethora of credit cards depending on your needs and wants, such as: Travel Rewards cards, Building Credit cards, Business Rewards cards, and Cash Back Rewards cards.  Each card has a set late fee associated to it.

Depending on which card you have, your late fee will be in one of the following denominations (up to $35):

  • $15 late fee
  • $25 late fee
  • $29 late fee
  • $35 late fee

You will know your late fee through your particular card’s information found in the Welcome Package Kit. You can also call the number on the back of your credit card and ask a customer rep for specific information for your particular card.

What is Considered a Late Payment?

Capital One considers a late payment to be anything received after 5:00 p.m. Eastern Standard Time. Yes, that is very specific. The thing is, they will charge a late fee even if you are only 45 minutes late (regardless of the payer’s time zone, as this one woman found out).

Hey, rules are rules, right? It’s just important to know what the rules are ahead of time. If you think you might mess up the time zone because you are in a different one, then simply schedule your payment one day before the due date. Problem solved.

Note: Thanks to The Credit Card Act of 2009, if you mail your payment and the due date is a day when the lender doesn’t accept/receive payments, the payment is considered timely if received the next business day (prior to the cut-off time–in this case, 5:00 p.m. Eastern Standard Time).

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Can a Late Payment Cause an Interest Rate Hike on My Capital One Credit Card?

If you are more than 60 days late on your payment, then Capital One can increase your interest rate. However, they have to notify you in writing.  Also, the new interest rate only applies to new charges, not your old charges.

Bonus: Attempt to Negotiate Away Your Late Fee

Have you been a good, conscientious credit card owner? If you have, then you might be able to make your late fee go away. You will want to call Capital One directly (number is on the back of your card), and speak to a customer representative. Politely explain to them how it is that you missed the due date, and ask that they forgive the late fee this one time. Chances are, you can get that late fee taken off of your bill or have it credited to the next billing cycle. Here’s more information on how to negotiate the removal of a fee.

Note: Negotiating your late fee away is different from disputing your late fee. If you are looking to dispute your fee because it was made in error, then that is a different process. You will want to contact Capital One directly and ask how to proceed with your dispute.

Have you ever incurred a late fee? Did you attempt to negotiate it away, or did you pay it?

Image Credit: Wei-Hang Cui

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  • Lisa Kovac

    Here is something else to know about Capital One. If you are close to your credit limit, and your late fee or next month’s interest charge pushes you over, you will get charged an over the limit fee as well. They do not always give you a minimum payment that will keep you under the credit limit when this happens, so be sure to guestimate from your last statement how much interest will be tacked on the next month and make a bigger payment so it doesn’t push you over the limit two months in a row because they will charge you an over the limit fee again next month. Trust me, I know. 😉

    • This is great information for Capitol One customers! Thanks, Lisa!

    • anommona

      I’ve been over my limit plenty of times. They never gave me an “Over the limit fee” once. Just my interest.