Late and Over Limit Fees

Posted January 16th, 2009 and last modified July 16th, 2014
Overlimit fees Time is gold. Find out the late and over-limit fees of various credit cards to see how paying late can cost you a lot.

Late payment fees and limit breaching fees aren’t easy to find with credit card offers – and for good reason: They aren’t a very attractive feature of credit cards.

However, they exist on all cards and are thus an important feature to compare credit card providers with.

Credit Card Finder® has taken more hard work out of credit card comparison for you, featuring all key providers late and limit breach fees.

Note that these fees are accurate as of August 2nd 2009 and are subject to change.

American Express

    Overlimit fee

    $30

    Late Payment fee

    $30

ANZ

    Overlimit Fee

    A fee will apply if the Closing Balance on your statement of account exceeds your approved credit limit by $100 or more. The overlimit fee will be 5% of the overlimit amount, to a maximum of $50.

    Late Payment Fee

    A fee of $20 will be charged to the Principal Account if the account is not paid in full within 14 days of the statement date.

Aussie

    Overlimit fee

    If the balance of the account exceeds the credit limit at any time during a statement period you’ll be charged $35 at the end of that “Statement Period”, shown on the statement of account.

    Late Payment fee

    If the “Monthly Payment ” plus any “Amount Due Immediately” shown on the statement of account is not paid within 28 days of the end of the “Statement Period” shown on that statement, you’ll be charged $35.

Bank of Queensland

    Overlimit fee

    $30 – We will charge you an Overlimit Fee of $30 per statement period debited when your account balance exceeds your credit limit on the statement cycle date.

    Late Payment fee

    $30 – We will charge you a Late Fee of $30 per statement period, debited when your Minimum Payment Due is not received after the Statement Issue Date and on or before the Payment Due Date.

Bankwest

    Overlimit fee

    $30 ‘Payable if the outstanding balance exceeds the approved limit”. This fee is charged only once per statement period.

    Late Payment fee

    $35 ‘Payable if the minimum payment is not processed to the account by the due date”. This fee is charged only once per statement period.

Bendigo Bank

    Overlimit fee

    $27.50 ‘You will be charged this fee each day you perform a transaction on your account and your account remains overdrawn at the end of the day.

    Late Payment fee

    $25 – When your minimum repayment on a Bendigo Credit card exceeds $25.00 and it has not been made 30 days after the due date. This fee is charged to your account at the end of the monthly statement period.

Citibank

    Overlimit fee

    A flat $40 when your credit limit has been exceeded.

    Late Payment fee

    A flat $40 when you have exceeded the date your minimum payment is due.

Commonwealth Bank

    Overlimit fee

    Over limit fee is of $0 when your credit limit has been exceeded.

    Late Payment fee

    A flat $20 when you have exceeded the date your minimum payment is due.

GE Money

    Overlimit fee

    This is incurred when a purchase takes your balance over your credit limit – $30

    Late Payment fee

    This applies if you don’t make the whole of the minimum payment by the due date shown on your statement – $35

Macquarie Bank

    Overlimit fee

    When you breach your credit limit, an overdraft fee of $40 will be charged.

    Late Payment fee

    If you do not make the minimum payment by the date specified in your credit card statement, a $40 fee will be imposed.

Member’s Equity

    Overlimit fee

    Information not found.

    Late Payment fee

    $25 if you do not meet the required minimum repayment date.

NAB

    Overlimit fee

    No fee for overdrawals.

    Late Payment fee

    A flat $30 when you have exceeded the date your minimum payment is due.

HSBC

    Overlimit fee

    A $30 fee is charged when you exceed your credit limit.

    Late Payment fee

    A $30 fee is charged the day or day after you exceed your minimum repayment due date.

St.George

    Overlimit fee

    A flat $9 fee will be charged if you exceed your max credit card limit.

    Late Payment fee

    A flat $9 fee will be charged if you miss a minimum repayment due date.

Note that BankSA is a subsidiary of St.George and features identical fees.

Suncorp

    Overlimit fee

    $40.00 each time that your credit limit is exceeded. Suncorp will only charge this to a maximum of once per month.

    Late Payment fee

    $10.00 If your Payment Due is not paid by the Payment Due Date and $10 every 7 days thereafter until the Payment Due is made

Westpac

    Overlimit fee

    A flat $9 fee will be debited to your card upon limit breach.

    Late Payment fee

    A flat $9 fee will be debited to your card if you miss the minimum repayment due date.

Wizard are in the process of a merger with Aussie and will cease to exist over the next coming weeks. If their cards are still on offer after the merger, the fees will be listed accordingly.

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One Response to Late and Over Limit Fees

  1. Default Gravatar
    Eric | May 28, 2010

    NOTE on the NAB fees – payments on your credit card are only accepted between the statement issue date and the due date. Any payments made outside this narrow date range are not counted toward your minimum monthly payment!! In my case I am paid fortnightly, which of course does not correspond to any particular monthly date, and I pay roughly half the due amount then. Consequently the NAB will charge me a “late fee” although I have paid more than the monthly fee requested!! So much for “a fairer banking system with more give and less take”!!!

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