Max Late Fee
Explanation: If you don't pay your credit card bill on time you get a late fee.
Usually, the late fees are tiered. For example,
-- $15 on balances up to $100
-- $29 on balances of $100 up to $250
-- $39 on balances of $250 and over
Given the tiered late fee structure of most credit cards, we recommend that you just focus on the 'Max Late Fee' (i.e. $39 on this example).
