Late charge意思

"Late charge" is a term commonly used in finance and billing contexts to refer to a penalty or additional fee charged to a customer for paying a bill after the due date. This charge is typically a fixed amount or a percentage of the outstanding balance and is intended to encourage timely payments and cover any additional costs incurred by the company due to late payments.

For example, if you have a credit card with a monthly due date and you fail to make the payment on time, the credit card company may apply a late charge to your account. Similarly, if you have a loan or any other type of recurring bill, you may be subject to late charges if you do not pay the bill by the due date.

The amount of the late charge can vary depending on the terms of the agreement between the customer and the company, as well as local laws and regulations. It's important to review your billing statements and payment agreements to understand when payments are due and what penalties may apply for late payments.