The satisfactory credit cards with no past due charges are the PenFed Promise Card, the Citi Simplicity Card, and the Apple Credit Card due to the fact none of them charge past due costs or penalty APRs, and they all have $0 annual fees. Or, some credit cards available don’t fee a overdue rate for the first late fee. All Discover cards fall into this category, for example. However, the promise of no past due expenses appears to come back with much less rewards in lots of cases.
The Citi Simplicity card doesn’t have overdue fees, a penalty APR or rewards. Its great feature is a 21-month zero% APR on balance transfers. This perk comes with a balance transfer charge of 5% (min $5), however, and the card’s regular APR can be higher than the average credit card’s penalty APR. So you’ll need to make sure you can repay the transfer earlier than the intro period ends.
The PenFed Promise Card requires brilliant credit and advertises no overdue expenses, penalty APRs, balance transfer costs, over-limit expenses, or cash boost APR. Plus, spend $1,500 within 90 days of account opening, and you’ll grab a $100 signup bonus. But there’s no zero% purchase APR length, and there aren’t any ongoing rewards.
The new Apple Credit Card has no prices at all. It also comes with its own Apple-branded rewards system: 3% “Daily Cash” again on Apple products and Apple Store purchases (which include in-app purchases), 2% on Apple Pay purchases, and 1% on the entirety else. Apple’s “Daily Cash” may be used with Apple Pay, amongst other things. That said, stability transfers aren’t allowed, there’s no intro APR period, and if you show up to make “unauthorized modifications” to your iPhone, Apple can close your credit account.
It’s really worth noting that a late price isn’t the worst factor about being late on a credit card charge. Late prices may be steep, however late credit card payments can also get pronounced to the credit bureaus. A fee that’s 30 days late – that means you’ve missed due dates – may want to have a extensive effect on your credit score. That’s actual even in case you have wonderful credit and you’ve never ignored a payment for your life. A missed payment stays on your document for 7 years, even though your score ought to progressively soar back, depending on the relaxation of your economic picture.
Ultimately, as an alternative of looking for a card with no late fees, perhaps consciousness on by no means lacking a fee. Setting up autopay is easy, and as long as you pay the minimum quantity required by means of the due date, you won’t get hit with a late rate. Issuers will generally waive the first past due fee anyway if you call and ask.