Late payment fees refer to the fines incurred by cardholders who fail to repay on time after the repayment date. The calculation methods are as follows:

1. Daily calculation: This method means that a certain amount of late payment fees will be accumulated every day after the due date until it is paid off. The specific calculation method is: late payment fee = overdue principal × daily interest rate. Among them, the daily interest rate is usually 0.5%.

2. Monthly calculation: This method means that the late payment fee will be calculated from the next month after the overdue payment, and a certain penalty will be incurred every month until it is paid off. The specific calculation method is: late payment fee = overdue principal × monthly interest rate × overdue month. Among them, the monthly interest rate is usually five thousandths.

The above are two methods for calculating late payment fees in credit cards. Cardholders should make sufficient preparations before the repayment date and try to avoid late repayments. At the same time, in order to improve their credit rating, it is recommended that cardholders query their credit card data through tools such as "Xiao Qixin Check" to understand their credit status and repayment records, so that they can take timely measures to improve their credit status.