Bank of America (BOA) states that you may be charged a late-payment fee on your credit card account for a variety of reasons. Your mailed payment might have been delayed or you may have transferred money from an automatic teller machine after the cut-off time for that day. Late-payment fees are also charged if your payment is received on time but is less than the minimum due, BOA explains. Fees run up to $38, depending on how many times you are late, but you can dispute them.
Review your BOA credit card account history to see if you have ever had a previous late payment or other problems such as exceeding your credit limit. You have the best chance of a successful late-payment dispute if your prior history is spotless, according to Lucy Lazarony of the Bankrate.com consumer finance advice website.
Call the BOA customer service number on your credit card. It is a toll-free telephone number printed on the back of your card. Navigate the automated system until you reach a live human.
Explain the situation to the customer service representative and ask for a late-fee waiver because you are a good customer. Lazarony states that the bank might agree to do so as a courtesy if this is your first delinquency.
Request a supervisor if the agent refuses to remove the late-payment fee from your BOA credit card account. The agent may not have the authority to do it or may simply not wish to approve the waiver. A supervisor has more authority and may be more likely to keep you happy and retain your business.
You may feel that the late-payment fee was assessed in error. Have backup documentation, such as an electronic funds transfer receipt, to support your position and send a copy to BOA if you cannot get the fee waived over the phone. Demand that the delinquency be removed from your credit reports, too. Dispute the late-payment information directly with Equifax, Experian and TransUnion if BOA does not erase it. The Federal Trade Commission advises doing this through certified mail. Send a letter to each credit bureau explaining that your payment was on time and enclose copies of your proof.
Sometimes you may realize that you did not make your payment even though the due date is looming. You will incur a late-payment fee unless you take immediate action. Lazarony advises using an immediate method like an online or telephone payment. Sign up for online payments on the BOA website or call the customer service line to send money by phone.