The ICICI Bank has recently updated the late payment fee on its credit cards and hence we are here with this article to make to understand the difference between credit card late fee charged by different credit card issuers. For those who don’t know, a late payment fee is charged on credit cards when the cardholders fail to pay their credit card bill by the payment due date. It can be more or less depending on the outstanding amount on your credit card and it can also vary for different credit cards issued by different card issuers. Refer to the following information to know the late payment charges on credit cards issued by some of the most popular credit card issuers in India:

Comparison Between Late Fee Charged By Different Card Issuers

HDFC Bank

When you miss payments on your HDFC Bank Credit Cards, the late fee is charged according to the outstanding amount. The low fee is charged for the low outstanding balance and a high fee for the high amount. Refer to the following table to understand the late payment charges on HDFC Bank Credit Cards:

Outstanding Amount Late Payment Charges
Less than Rs. 100 Nil
Rs. 100 to Rs. 500 Rs. 100
Rs. 501 to Rs. 5,000 Rs. 500
Rs. 5,001 to Rs. 10,000 Rs. 600
Rs. 10,001 to Rs. 25,000 Rs. 800
Rs. 25,001 to Rs. 50,000 Rs. 1,100
Rs. 50,001 or more Rs. 1,300

SBI Card

On missing your SBI Card bill payment, the late fee is charged on your credit card account as follows. Along with this, an additional fee of Rs. 100 will be charged if you miss paying the minimum due amount for two consecutive billing cycles. Refer to the following table to understand more:

Outstanding Amount Late Payment Charges
Less than Rs. 500 Nil
Rs. 500 to Rs. 1,000 Rs. 400
Rs. 1,000 to Rs. 10,000 Rs. 750
Rs. 10,000 to Rs. 25,000 Rs. 950
Rs. 25,000 to Rs. 50,000 Rs. 1,100
More than Rs. 50,000 Rs. 1,300

ICICI Bank

The credit card late fee on ICICI Bank Credit Cards has been updated recently and it is now slightly higher than it was before. The new fee structure will be effective from Feb 10, 2022. We have compared the previous and the new late payment fee on ICICI Bank Credit Cards in the following table:

Outstanding Amount Late Payment Charges (Old) Late Payment Charges (with effect from Feb 10, 2022)
Less than Rs. 100 Nil Nil
Rs. 100 to Rs. 500 Rs. 100 Rs. 100
Rs. 501 to Rs. 5,000 Rs. 500 Rs. 500
Rs. 5,001 to Rs. 10,000 Rs. 500 Rs. 750
Rs. 10,001 to Rs. 25,000 Rs. 700 Rs. 900
Rs. 25,001 to Rs. 50,000 Rs. 700 Rs. 1,000
Rs. 50,001 or more Rs. 700 Rs. 1,200

Axis Bank

The Axis Bank charges different late payment fees on its different credit cards. No late payment fee is charged on the Axis Bank Burgundy Private Credit CardOther than that, the fee structure is different for the Axis Bank Ace Credit Card and the same for all other credit cards. Refer to the following table to understand more:

Late Payment Fee on Axis Bank Ace Credit Card:

Outstanding Amount Late Payment Fee
Less than Rs. 100 Nil
Rs. 101 to Rs. 300 Rs. 100
Rs. 301 to Rs. 1,000 Rs. 300
Rs. 1,001 to Rs. 5,000 Rs. 500
Rs. 5,001 to Rs. 10,000 Rs. 600
Rs. 10,001 and above Rs. 700

Late Payment Fee on Other Axis Bank Credit Cards:
Outstanding Amount Late Payment Fee
Less than Rs. 300 Nil
Rs. 301 to Rs. 500 Rs. 100
Rs. 501 to Rs. 1,000 Rs. 500
Rs. 1,001 to Rs. 10,000 Rs. 500
Rs. 10,001 to Rs. 25,000 Rs. 750
Rs. 25,001 to Rs. 50,000 Rs. 1,000
Rs. 50,000 and above Rs. 1,000

Bottom Line

The credit card late fee is charged by all the card issuers when you don’t pay the outstanding amount by the payment due date. To avoid this, it is always advisable to make your credit card bill payment on time. You should try to pay the full outstanding by the payment due date, but if you feel like you can’t pay it in full, you should at least try to pay the minimum amount due to avoid the late fee. Moreover, you should be aware of the late payment fee on your credit card so that you can make sure to pay the outstanding amount before it becomes even high due to the late fee and interest charges.

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