Some of us forget to pay our credit card bills on time, not because we’re careless, just… life happens.
Busy schedule, too many things on our mind, or maybe we just missed the due date by a day or two. But did you know that you don’t always have to pay that late fee?
Yup, you can actually call the bank and ask them to waive it, and more often than not, they’ll say yes.
Ex-banker shares what most people don’t know
This tip comes from Ashraf Hamzah, who used to work in customer service at a bank for six years before moving to the fraud team.
He shared his experience on Threads, revealing something most people don’t realise it’s actually pretty easy to get those late charges waived.
He said many customers would just pay the fee without questioning it, but what they didn’t know was that banks usually won’t make a fuss if you just call and ask nicely.
In fact, Ashraf never declined a single request for a waiver. As he put it, “I just wanted to end the call quickly.”
Wait, so how do Late fees even work?
Okay, here’s a quick breakdown.
If you pay your credit card bill late, your bank charges you a 1 percent late fee based on your outstanding amount, with a minimum of RM10 and a maximum of RM100, as set by Bank Negara Malaysia (BNM).
So let’s say you owe RM5,000 and you’re late. You’ll probably get hit with a RM50 late fee. Painful, yes, but here’s the thing you don’t necessarily have to pay it.
How to ask for a waiver
Here’s what you need to do:
- Check how old the charge is. If it’s within the last three months, you’re good.
- Call your bank’s customer service.
- Just be honest. Say something like, “Oh, I missed the due date, sorry. Can I request a waiver for the late fee?”
That’s it.
Ashraf shared that even people with high incomes would call in just to waive RM10 fees. So don’t feel shy about it. You’re not being cheap, you’re just being smart.
Real example: Ashraf saved RM150 with 1 phone call
Ashraf even helped his wife recently. She’s not the type to check bills, so he noticed she was charged late fees for two months. He called the bank, explained the situation, and just like that, RM150 was waived.
As he pointed out, that RM150 could have gone to buying milk for their kid. So why let it go to the bank for nothing?
Don’t just pay it without thinking
So the next time you see a late charge on your statement, don’t just pay it without thinking. Give the bank a call. Ask for a waiver.
It takes maybe two minutes, and those few ringgit here and there can really add up over time.
Save your money where you can, especially if it’s as simple as picking up the phone. Because honestly, the bank isn’t going to call you and offer to return that RM50. But you? You can get it back, if you just ask.
View on Threads
