Smart Hack That'll Get Your Bank of America Late Fees Waived
If you have a loan or credit line from Bank of America, you may have encountered a penalty for a late payment. Bank of America late fees can be inconvenient and expensive. Is it possible to refund a late fee from Bank of America?
The average bank in the United States charges between $25 and $50 for late payments. If you have recently received a Bank of America late fee, you are probably looking for the reason why you were charged and a way to reverse the charges.
This blog will guide you through the reason Bank of America charged you a late fee, how to avoid the penalty in the future, and how to refund your current charges. We will also reveal the easiest way to refund your Bank of America late fees with DoNotPay.
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What Is a Bank of America Late Fee?
Late fees are penalties for payments not received by the payment due date on credit cards and other loans. If you receive a Bank of America late fee you will see a late payment fee on your Bank of America statement. The amount Bank of America can charge per late payment is a maximum of $40 for personal credit cards. You will not be charged if the total balance due is less than $100.
See the table below for a breakdown of the Bank of America late fees:
|Bank of America Card||Initial Late Fee||Maximum Late Fee|
|Bank of America Rewards Card||$29||$40|
|Bank of America Premium Rewards Card||$29||$40|
|BoA Platinum Plus for Business MasterCard||$19||$49|
|BoA Business Advantage Cash Rewards MasterCard||$19||$49|
Bank of America can also charge a penalty APR of 29.99% if you fail to make a minimum payment for more than 60 days. Waiving or refunding a late fee from Bank of America can be complicated but not impossible. It is best to avoid late fees altogether by making the minimum payment.
Avoiding, Waiving, and Refunding Bank of America Late Fees
While it is best to avoid late fees, sometimes it is not possible. We will guide you through avoiding, waiving, and refunding Bank of America late fees.
How to Avoid Bank of America Late Fees
Avoiding late fees comes down to making your payments on time. If you are finding it difficult to make even the minimum payments, reach out to a financial advisor for assistance. The most convenient way to ensure your credit cards and loans are paid on time is to set up an automatic payment service.
Bank of America offers automatic payments using AutoPay from your account service portal. You can set up automatic payments to ensure you never have a late payment. You can often waive or refund the fee if you already have a late payment charge.
How to Waive or Refund Bank of America Late Fees
Waiving a late fee from Bank of America is not a simple task, especially if you are a repeat offender. If it is your first time and you have a good excuse, you have a good chance of getting the fee refunded. You may be able to waive or refund your Bank of America late fees using the following process:
- Call Bank of America 24/7 at (800) 732-9194 or the phone number on your statement.
- Tell the representative the amount you were charged for the late fee and why you need to waive it. If you have not missed a payment before, inform the representative. Explain your hardship that makes it difficult or impossible to make the payment on time if you have one, like hospitalization or loss of employment. If you believe there was a mistake and you made the payment on time, you can also inform the representative.
- Let the representative determine if they can waive the fee. You can also ask the representative to escalate your case if the answer is not satisfactory.
If Bank of America will not waive or refund your late fee, use DoNotPay to get a refund instantly.
Get Your Bank of America Late Fee Refunded Today With DoNotPay
Sometimes it can feel impossible to get your Bank of America late fees waived or refunded. If the Bank of America representative cannot help you, you may still be able to repeal the fee with help. DoNotPay can help you appeal late fees from your mobile phone or web browser. DoNotPay also repeals other bank fees and can automatically waive bank fees every month.
How to Get Bank of America Late Fees Waived Instantly with DoNotPay
If you want to Get Bank of America Late Fees Waived quickly with DoNotPay but don't know where to start, DoNotPay has you covered in 4 easy steps:
- Open the DoNotPay Fight Bank Fees product.
- Enter the name of your bank.
- Verify the last 4 digits of your bank account.
- Choose which fees you want to waive, including overdraft, ATM, and transaction fees.
DoNotPay Gives You a Legal and Financial Advantage
DoNotPay is not only the best way to appeal bank fees, it can also help you with legal, consumer, and financial issues. DoNotPay helps users fight unfair fees, return policies, and even go to small claims court. Some of DoNotPay's most useful services include:
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Sign up today and start saving money on fees with DoNotPay.