Question

what is the difference between an annual fee and a late payment fee on a credit card? an annual fee is a penalty for not making the minimum payment by the due date, while a late payment fee is a charge for having the credit card. an annual fee is a one - time charge for having the credit card, while a late payment fee is a penalty for exceeding the credit limit. an annual fee is a yearly charge for having the credit card, while a late payment fee is a penalty for not making the minimum payment

Explanation:

An annual fee on a credit - card is a recurring yearly charge for having the card. A late - payment fee is a penalty imposed when the cardholder fails to make the minimum payment by the due date.

Answer:

An annual fee is a yearly charge for having the credit card, while a late payment fee is a penalty for not making the minimum payment.