The interest is 0.05%, calculated from the record date, and there is also a late fee. It is best to repay within the grace period of China Merchants Bank. If you exceed the grace period and have the ability, choose to repay in full, then there will be no fee. Otherwise, 0.05% daily interest will be charged, plus late payment fees.

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The consequences of an overdue credit card:

1. Overdue credit card fees are required. When the cardholder fails to repay the credit card before the due date (inclusive) When the repayment or the repayment amount is less than the minimum repayment amount, the fee payable to the card-issuing bank is required.

2. After a user uses a credit card to overdraft, there is generally an interest-free repayment period ranging from more than 20 days to more than 50 days. If the cardholder's repayment is overdue, then all the cardholder's last month's repayments will be lost. Fees no longer enjoy the bank's interest-free treatment, and the recurring daily interest rate is as high as 0.5%, which means the annual interest rate reaches 18%.

3. Credit card overdue repayment records will enter the central bank’s credit reporting system to generate bad credit records.

4. If the credit card is not repaid for more than 3 months, the bank will ask a lawyer to issue a lawyer's letter to the user and file a lawsuit in court. The litigation costs will be borne by the cardholder.

5. Criminal liability for malicious overdraft. According to Article 196 of my country's Criminal Law and relevant judicial interpretations, malicious overdraft refers to the cardholder's behavior of overdrafting beyond the prescribed limit or within the prescribed period for the purpose of illegal possession and failing to return it after being called by the card issuer. Those who maliciously engage in credit card fraud through overdraft will be held criminally responsible for credit card fraud and be sentenced to fixed-term imprisonment of not more than 5 years or criminal detention, and a fine of not less than 20,000 yuan but not more than 200,000 yuan.

If your credit card is overdue, please note that there is a grace period of 1 to 3 days after the credit card is overdue. As long as you pay off the debt in time within this period, it will not affect your personal tax collection. Of course, the specific time is subject to the announcement of each bank.

If the loan is overdue for more than three days, some online loan platforms will begin strong collection efforts, usually through frequent phone calls and text messages.

The overdue credit card repayment record can be completely eliminated after 5 years, but if the repayment is made on time within 24 months, the previous bad credit record will be refreshed.