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It's a little known fact that late fees account for an IMMENSE proportion of credit card companies' profits, as much as 30% in the case of some lenders! You may never have encountered a 'late fee' before, but if you use a credit card, you probably will! Forget to pay off the bill one month, or misplace a bill, and the next month you will see a new entry on your statement - the dreaded 'Late Fee'. Credit cars companies make money in a number of ways, such as charging you interest on your balance, imposing fees on merchants, and so on. As competition in the credit card market has hotted up recently, card companies have started to shave down these 'reputable' costs charged to their 'good' customers, and to raise the charges against the 'bad' customers. The idea, of course is to keep their customer base up, by making the 'good' ones feel wanted, while hitting the 'bad' customers every which way they can.