Overview
Late payment charges are a common problem for many consumers in Malaysia. Aeon Credit, a leading credit card issuer in the country, is no exception. If you’re struggling to make your Aeon Credit payments on time, it’s important to understand the late payment charges that you may incur.
Late Payment Charges and Fees
Aeon Credit charges a late payment fee of RM10 for each payment that is overdue by more than 15 days. This fee is capped at RM50 per month. In addition, Aeon Credit may also charge you a late payment interest charge of up to 18% per annum on the outstanding balance of your account.
Consequences of Late Payments
Making late payments on your Aeon Credit account can have several negative consequences, including:
- Damage to your credit score: Late payments can have a significant negative impact on your credit score. This can make it more difficult to qualify for loans and other forms of credit in the future.
- Increased interest charges: Late payment interest charges can quickly add up, increasing the overall cost of your debt.
- Legal action: In some cases, Aeon Credit may take legal action against you if you fail to make your payments on time. This could result in a judgment against you, which could damage your credit score and make it difficult to rent or buy a home.
Avoiding Late Payments
There are several things you can do to avoid late payments on your Aeon Credit account, including:
- Set up automatic payments: You can set up automatic payments from your bank account to your Aeon Credit account. This will ensure that your payments are made on time, even if you forget or are unable to make them manually.
- Use a reminder service: There are several reminder services available that can help you keep track of your payment due dates. This can help you avoid forgetting to make your payments on time.
- Contact Aeon Credit: If you’re having trouble making your payments on time, you should contact Aeon Credit as soon as possible. They may be able to help you work out a payment plan that you can afford.
Conclusion
Late payment charges can be a significant financial burden. By understanding the late payment charges that you may incur and taking steps to avoid them, you can protect your credit score and your financial health.
Tables
Table 1: Aeon Credit Late Payment Charges
| Late Payment | Fee |
|---|---|
| 15-30 days | RM10 |
| 30-60 days | RM20 |
| 60-90 days | RM30 |
| 90+ days | RM50 |
Table 2: Aeon Credit Late Payment Interest Charges
| Interest Rate |
|—|—|
| 18% per annum |
Table 3: Consequences of Late Payments on Aeon Credit Account
| Consequence |
|—|—|
| Damage to credit score |
| Increased interest charges |
| Legal action |
Table 4: Tips for Avoiding Late Payments on Aeon Credit Account
| Tip |
|—|—|
| Set up automatic payments |
| Use a reminder service |
| Contact Aeon Credit |
