1. Impact of credit record: Credit card default will have a negative impact on personal credit record. Credit record is an important basis for financial institutions to evaluate personal credit risk. Bad credit records in the past may lead to the rejection of subsequent credit card applications or the reduction of credit limit.
2. Decline in credit score: Overdue repayment of credit cards will lead to a decline in personal credit score. Credit score is an index to measure personal credit status, usually between 350 and 900. Overdue repayment will be recorded by credit rating agencies, resulting in a decline in credit scores, which may affect your future credit loans, housing, renting, etc.
3. High interest and late payment fee: After overdue repayment, you will face high interest and late payment fee. Credit cards usually charge high interest and late fees, which are generally calculated in proportion to the overdue amount. Therefore, overdue repayment will lead to an increase in your repayment amount and increase your economic burden.
To sum up, overdue repayment of credit cards will have a negative impact on your credit history, credit score and economic burden. In order to avoid this situation, it is suggested to repay on time or in advance to ensure a good credit record and a stable credit score.
Supplementary information:
-Credit records: Credit records are databases for banks and other financial institutions to record personal credit information, including credit cards, loans, overdue records and other information.
-Credit score: Credit score is an index to comprehensively evaluate personal credit status, which is used to judge the level of personal credit risk.
-Minimum repayment amount: the minimum repayment amount stipulated in the credit card bill. If only the minimum repayment amount is paid, there will be interest and late fees. It is best to pay off all debts and avoid high fees.
The above is about the possible impact of overdue repayment of credit cards. For more information, it is recommended to consult relevant financial institutions or credit rating agencies.