What to do if your credit card is overdue?
Pay off the debt in time, proactively explain the situation to the bank, and keep the account in a normal state; do not cancel the card because it is overdue, otherwise the card will be repaired. Opportunities for credit. After the expiration date, you should continue to use the credit card normally, spend more, repay on time, and replace the overdue record with a new repayment record; do not lose contact after the expiration date, otherwise you may be cheated.
Extended information:
Personal credit reporting refers to the collection and processing of personal credit information by personal credit reporting agencies established in accordance with the law, and provides personal credit information inquiry and evaluation according to user requirements. service activities. A personal credit report is a personal credit history record that a credit reporting agency collects in accordance with the law, processes and organizes it in accordance with the law, and finally provides it to legitimate information inquirers in accordance with the law.
Currently it is mainly used for various consumer credit businesses of banks. As the social credit system continues to improve, credit reports will be more widely used in various commercial credit sales, credit transactions, recruitment and job hunting. In addition, personal credit reports also provide the inquirer with a way to review and standardize his or her credit history behavior, and form a verification mechanism for personal credit information.
The main factors that may affect personal credit risk scores are: there have been overdue repayments on loans, or credit card overdrafts have not been repaid within the agreed time limit and repayment amount, or there are too many loan accounts and credit cards, etc. When a credit reporting agency or information provider receives an objection, it shall mark the relevant information as objectionable in accordance with the regulations of the credit reporting industry supervision and administration department of the State Council, verify and handle it within 20 days from the date of receipt of the objection, and provide a written reply with the result. Dissenter.
If after verification, it is confirmed that there are errors or omissions in the relevant information, the information provider and the credit reporting agency shall make corrections; if it is confirmed that there are no errors or omissions, the objection mark shall be cancelled; if it cannot be confirmed after verification, , the verification status and objection content should be recorded.
The credit report is based on the "People's Bank of China Releases China's Credit Industry Development Report (2003-2013)" credit report forwarded by the People's Republic of China and the Central People's Government of the People's Republic of China: it is collected, organized and collected in accordance with the law. A way to save and process the credit information of natural persons, legal persons and other organizations.
In addition to the most common credit card overdrafts and overdue repayments of personal mortgage loans, some behaviors such as failure to pay on time and guarantees may be included in personal credit reports. The report shows that if the person has ever had tax arrears, civil judgments, enforcement, administrative penalties, or telecommunications arrears, etc., the report may be displayed.
What should I do if my credit card is overdue?
When the credit card holder is overdue, the most direct consequence is to pay a certain late fee and affect the personal credit record. If it is maliciously overdue and the amount reaches a certain standard, the holder will also bear criminal liability and be punished accordingly. If you forget to repay due to usual carelessness, you must repay in full as soon as possible after you find it is overdue, preferably in full, because after repaying in full, you have the best chance of winning if you call the bank to explain that the debt is not malicious and request to eliminate the overdue record.
Article 196 of the Criminal Law of the People's Republic of China and the People's Republic of China: Whoever engages in credit card activities under one of the following circumstances and the amount is relatively large shall be sentenced to not more than 5 years or criminal detention, and shall also be fined 20,000 yuan A fine of not less than RMB 200,000 but not more than RMB 200,000; if the amount is huge or there are other serious circumstances, the sentence shall be not less than 5 years but not more than 10 years, and a fine of not less than RMB 50,000 but not more than RMB 500,000; if the amount is particularly huge or there are other particularly serious circumstances, the sentence shall be not less than 5 years but not more than 10 years; years or above, and shall also be fined not less than 50,000 yuan but not more than 500,000 yuan or have property confiscated.
How to eliminate credit card overdue records
It can be eliminated.
1. Take the initiative to contact the bank to negotiate repayment.
If a user has unpaid credit card debt, the bank will not actively negotiate with the user, but will only remind the user of repayment through text messages or phone calls. Therefore, if you want to negotiate and repay, users must take the initiative. It is best to negotiate before the due date, which is more likely to succeed.
2. Show your willingness to repay with a sincere attitude.
When negotiating repayment, you must tell the bank that you are not a malicious overdraft, and explain your current economic situation to the bank, saying that you are currently unable to repay the loan in full on time, but you have work income and will work hard to raise money to repay the loan. Make a payment and see if you can negotiate a repayment plan that is acceptable to both parties.
3. Keep relevant evidence at all times. Whether negotiating repayment with the bank or being violently collected, relevant evidence must be retained and then reported to the bank. It is said that the success rate of negotiation will be higher in this way, but the premise is that the user must always maintain a civilized and friendly attitude.
Secondly, it will take at least 5 years to eliminate overdue credit records. First, the overdue person must pay off all overdue loans, and then must ensure that there will be no bad behavior records within the next 5 years. Then 5 After a year, the credit reporting system will delete the previous overdue records.
According to the provisions of the "Credit Reporting Industry Management Regulations", bad credit reporting records cannot be deleted manually. If a bad credit reporting record is generated and you want to delete it, it will take at least 5 years.
The credit report is a record of personal credit information issued by the Credit Information Center of the People's Bank of China. It is used to check the social credit of an individual or company. If there are overdue and other bad records, the user can apply for a loan. You will be greatly hindered, so be sure not to exceed the deadline easily.
So, it will take at least 5 years to eliminate overdue credit records. First, the overdue person must pay off all overdue loans, and then must ensure that no bad behavior records are produced within the next 5 years. Then 5 After a year, the credit reporting system will delete the previous overdue records.
So, how to deal with overdue credit records?
1. Overdue records can be deleted after 5 years
According to the "Credit Information Management Regulations" of the Legislative Affairs Office of the State Council, the retention period of "bad records" is 5 years. If it is more than 5 years old, the credit reporting agency should delete it. However, the credit record will be deleted automatically after 5 years only after you have paid off the debt. If there is no repayment, the credit record will always be with you. If the overdue amount is so serious that it is included in the loan prohibition list, you will not be able to apply for a loan in the future. It must be noted that some industries that claim to "eliminate bad credit" are not trustworthy.
2. Repayments that are temporarily overdue can be repaid in time
When some banks, such as commercial banks, determine a person's credit status, they focus on their recent credit transactions. If a customer occasionally makes overdue payments, but then repays on time and in full, it proves that the customer's credit status is developing in a good direction. Therefore, if you accidentally forget, just process the repayment in time.
3. Maintain good repayment and replace the old with the new
Personal credit records are constantly refreshed with personal credit activities, so pay attention to maintaining good repayment and replace the old with the new. The records will gradually replace the original overdue loan records, and the original bad records will be "replaced" and eliminated.
What to do if your credit card is overdue
1. As a credit card holder, once you are unable to repay on time due to unemployment, illness or other accidents, before the final repayment period arrives, , cardholders are advised to take the initiative to call the bank's credit card center, state their financial situation, declare that they do not owe money maliciously, and apply for delayed repayment and interest discounts. 2. In view of the cardholder's active performance and previous good credit record, the bank will often agree to defer the repayment and agree with the cardholder on a mutually acceptable repayment plan, delay period, interest discount, monthly repayment amount, etc. . In this way, if you proactively contact the bank and get the bank's consent to defer the repayment, you will not be recorded as a bad record, but it should be noted that you will be guaranteed to repay as agreed in the future. 3. If you forget to repay due to negligence, you must repay as soon as possible after discovering that it is overdue, preferably in full. Then call the bank's credit card center and state that the debt is not malicious. If the record has been good in the past and the overdue time is short, and it is found that the repayment is good after the overdue period, it may not be recorded as a bad record. Don't be careless in the future. Be sure to pay attention to the bank's bill notifications and collection information to avoid overdue payments.
4. Credit card repayment information will be recorded by the central bank's credit reporting system on a rolling basis for 24 months. That is to say, bad credit records caused by overdue credit card repayments will be stored in the credit reporting system for two years. If terminated with a card, the corresponding records will no longer be scrolled, but will be saved for a long time. Therefore, after overdue repayment of a credit card, it is best not to cancel the credit card immediately after paying off the debt. Instead, you should insist on using the card for more than two years and keep your credit in good condition during the period. In this way, you can rely on rolling records to remove bad records from your credit report. Remove it from the system. Article 8 of the "People's Republic of China and Civil Code" Civil subjects engaged in civil activities shall not violate the law or violate public order and good customs. Legal basis: Article 21 of the "RMB Interest Rate Management Regulations" stipulates that the interest rate for medium and long-term loans (with a term of more than one year) shall be fixed for one year. The loan (including all funds that should be disbursed in installments within one year from the effective date of the loan contract) shall accrue interest based on the statutory loan interest rate of the corresponding grade on the effective date of the loan contract according to the period determined in the loan contract. The interest rate for the next year will be determined based on the legal loan interest rate of the corresponding grade at that time. Interest on medium and long-term loans is settled quarterly, with the interest settlement date being the 20th day of the last month of each quarter. Interest that cannot be paid on time during the loan period will be compounded quarterly based on the contract interest rate. After the loan is overdue, compound interest will be calculated based on the penalty interest rate.
How to eliminate overdue records on your credit report
Credit reporting is very important to everyone, because it is an important basis for reflecting personal credit. If you are overdue on your credit card or loan payments, you will have a bad credit record on your credit report. So, how can you clean up an overdue credit report?
The bad credit record on the credit report must be retained for at least five years. It cannot be deleted manually, so naturally there is no way to clear it during the five years the record is retained.
However, if you pay off the debt in time and maintain good credit after being overdue, the system will automatically eliminate the overdue record after 5 years. Of course, if you are overdue again during this period, the retention period of this record will also be extended.
However, if you accidentally overdue or overdue due to unexpected circumstances, before the bank has reported it to your credit report in the early stages of the overdue period, you can pay off the debt as soon as possible and call the bank to inform the bank of the details. Condition. If there is indeed a reason for the incident, the bank may not report the overdue situation to the credit report after consideration.
If you have overdue records online, or loan records from multiple platforms, then your various records will be subject to big data risk control. When your online loan platform often rejects you, even if Even Huabei will be closed. If your online blacklist data is abnormal, you can search: Beijian Quick Check, you can get your own big data and credit status, you can get various indicator data, you can check your own personal credit status, blacklist status, network status Loan application record, application platform type, whether it is overdue, overdue amount, whether there is an arbitration case, and other important data information.
Extended information:
The credit report has been overdue 6 times. When will it be removed?
Six overdue credit reports indicate that the credit report has been blacklisted, and this record will be kept for five years.
Of course, these five years do not start from now, but after you pay off all your debts. If your credit card is overdue, don’t cancel it in a hurry.
After paying off the balance, use it for at least two more years. Do not cancel even if the bank asks you to cancel. If you use it frequently in the past two years, you can make small purchases, and then repay it in time to erase the previous records.
After two years, you will have hope when you apply for a credit card or loan, and you don’t have to wait five years. Of course, income and stability are the basis of everything. Credit cards can add a lot of convenience to life, and you can continue to accumulate credit during use, but they must be used rationally.
Overdue interest will not only accrue 0.05% per day, but also compound interest. The longer the overdue period, the higher the interest rate. If the amount is too large, there is a risk of being bankrupted. Once you become a laity, you will be restricted from taking high-speed trains, airplanes, and going abroad in the future. The credit era has begun, please cherish your credit.
This concludes the introduction on what to do if a credit card has an overdue record and how to apply for a credit card if there is a serious overdue record. Have you found the information you need?