More in Bank & Bill Fees
What this calculator does
This calculator shows the snowball effect of a missed payment. Late fees, penalty APR, and minimum payment recalculation can make the cost much larger than it first appears.
The math
New balance = missed payment + late fee. Interest = new balance × penalty APR ÷ 12. Minimum payment = new balance × minimum %.
Worked example
Missing a $200 payment with a $40 late fee and 29.99% penalty APR can add about $72 in interest the first month and a higher minimum payment.
Why this matters
Fees are often the fastest leak in a budget. This tool shows what a single fee costs over time and what to ask for instead.
Methodology and transparency
This page publishes the exact formula used to compute the result, so you can verify it in a spreadsheet or check the assumptions against your own situation. The worked example uses the tool default inputs; change any number and the result updates live in your browser. No data is sent or stored.
Common questions
How long does a penalty APR last?
Penalty APRs often last 6 months or longer after a missed payment, depending on the card agreement.
Can I get a late fee waived?
Often yes, especially if you usually pay on time. Call the issuer and ask for a courtesy removal.
Does a late payment hurt my credit?
Payments more than 30 days late can be reported and damage your credit score.