abstract:A late fee, also known as a late fine or a past due fee, is a charge levied against a client by a company or organization for not paying a bill or returning a rented or borrowed item by its due date. Its use is most commonly associated with businesses like creditors, video rental outlets and libraries.
Your credit score won't suffer if you are merely a few days late making a payment, though you may be charged a latefee and the interest rate charged may spike up.