What's wrong with the credit card repayment?

Reasons for credit card repayment failure:

1. The bank account information is incorrect

The card holder may be careless and enter incorrect bank account number or name, resulting in repayment failure. It is recommended that cardholders re-verify whether the entered bank account information is consistent with the information of your account opening bank, and try repayment again.

2. Abnormal account status

After the cardholder discovers the abnormality, he needs to contact the bank as soon as possible to verify the status of the bank's credit card account. Whether there is any freeze, account cancellation, need to activate, etc. For example, if a credit card is overdue for a long time, the bank will usually freeze the credit card directly. Therefore, the cardholder will temporarily be unable to find this credit card when making repayment. At this time, it is recommended that the cardholder proactively call the bank service hotline to negotiate repayment.

3. The bank system is suspended

It is very likely that the credit card issuer's system is busy or is in an upgrade state, causing repayment to fail for a while. At this time, the cardholder can refresh page and reapply for repayment. If that doesn't work, you can choose other repayment methods, such as over-the-counter repayment.

The credit card repayment date, also known as the credit card repayment due date, refers to the last date when the credit card issuing bank requires the cardholder to repay the amount due. That is to say, after the card issuing bank issues the bill, you should repay it when it is due. Pay off all your previous expenses before the payment date. In fact, the repayment due date is the last day of the interest-free repayment period. Repayments before this date are interest-free. Overdue interest and late payment fees will be charged. The interest-free repayment period is different for each bank.

Notes

The due payment date is also called the final payment date. If you do not repay in full before the due payment date and do not choose the minimum payment on your credit card, If you repay the amount, the penalties you may face are:

1. All consumption payments will no longer enjoy the interest-free repayment treatment. The bank will calculate interest on a daily basis from the day when the consumption occurs, using the consumption amount as the principal. , with a daily interest of 0.05% and compound interest calculated on a monthly basis;

2. Receive a reminder call and letter from the bank;

3. Freeze your account and will Your debt record will be fed back to the People's Bank of China and recorded in your credit file, which will affect your personal credit;

If you really do not have enough money to repay in full on the due payment date, then please choose a credit card Repay with the minimum repayment amount. In this way, you only need to repay 10% of the total cost in each installment. In this way, although there is no interest-free repayment period, personal credit will be avoided.

Why credit card repayments cannot be made

There are two main reasons for credit card repayments. One is that the repayment card limit is not enough, and the other is that the repayment method is wrong. For example, if you repay by transfer, the bank card used for repayment must have enough money. If the money is not enough, you cannot pay it back. The specific repayment method will be determined according to the status of the card.

If the credit card status is normal, the two repayment methods mentioned above can be used. However, if your credit card is frozen or stopped, you cannot insert the card into an AMT machine to repay. However, you can transfer and repay by yourself through online banking, Alipay, WeChat and other channels, or you can ask others to help you repay.

If the money is still not paid, the biggest reason may be that the credit card has been written off internally, but the credit card debt is still there, but the cardholder himself cannot make repayment and must bring it with him With your valid ID and credit card, go to the counter of any branch of the card-issuing bank to handle the repayment, and ask the teller to transfer the money from your bank card or repay in cash.

According to Article 7 of the "Regulations on the Supervision and Administration of Credit Card Business of Commercial Banks": A credit card refers to a credit card that records cardholder account information, has bank credit lines and overdraft functions, and provides cardholders with relevant banking services. All types of media.

Credit cards stipulated in the relevant laws of our country ("Interpretation of the Standing Committee of the National People's Congress on Relevant Credit Card Regulations") refer to credit cards issued by commercial banks or other financial institutions with the functions of consumption payment, credit loans, transfer settlement , cash deposit and withdrawal and other full or partial functions of the electronic payment card. On December 1, 2017, the "English Translation and Writing Standards in the Public Service Field" was officially implemented, stipulating that the standard English name of credit cards is CreditCard.

Credit card consumption is a non-cash transaction payment method. There is no need to pay cash when consumption, and repayment will be made on the billing date (BillingDate).

Credit cards are divided into credit cards and quasi-credit cards. Credit cards refer to credit cards in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; quasi-credit card It refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund as required. When the reserve account balance is insufficient to pay, the cardholder can overdraw within the prescribed credit limit. The so-called credit card generally refers to a credit card only.

Starting from January 1, 2021, the credit card overdraft interest rate will be determined independently by the card issuer and the cardholder through independent negotiation, and the upper and lower limit management of credit card overdraft interest rates will be cancelled. The daily interest rate is 0.7 times 5/10,000).

On May 25, 2021, the Supreme People’s Court issued and implemented the “Regulations of the Supreme People’s Court on Several Issues Concerning the Trial of Bank Card Civil Cases.”

What are the reasons for failure to pay off credit cards using WeChat? How to deal with it?

Now due to the rise of the mobile Internet, there are gradually more mobile apps. In particular, third-party payment applications such as Alipay and WeChat are deeply loved by everyone, and it is becoming more and more common to use these software to scan QR codes for consumption and repayment. So what should I do if the WeChat credit card payment fails? How to deal with it? Next, I will answer this question in detail for you.

First, let’s analyze the possible reasons for the failure:

1. The name of the bank account is inconsistent with the account name

If this is the case, then you need Please check carefully whether the certificate you filled out matches the name you opened the account with.

2. The account number does not exist

The account opening bank entered must be consistent with the selected account opening bank. Be sure to fill it in carefully before entering the bank account number. If you fill it in incorrectly, it will also lead to repayment. fail.

3. Abnormal bank account status

If the bank account is in arrears, canceled, frozen, reported as lost or needs to be activated, WeChat will not be able to pay back the credit card.

4. The bank account type is not supported at the moment

If it prompts that repayment is not currently supported when selecting a bank account, it means WeChat does not support repayment from this bank and can only be replaced. bank account.

How to deal with failure of WeChat credit card repayment?

If the repayment fails and the money is deducted, please don’t worry. Within 1 to 3 working days, the bank will return the deducted funds.

However, if you still have not received a refund after the time has passed, it is recommended that you contact the bank customer service and WeChat customer service for processing.

The above is the relevant content brought to you "What should I do if I fail to pay back my credit card using WeChat? How to deal with it?" In fact, neither WeChat nor banks will embezzle your money, but when a situation arises, you still need to contact customer service as soon as possible to handle the matter.

Why can’t Alipay pay off the credit card?

There are two main reasons why Alipay cannot pay back the credit card, one is the inability to pay, and the other is the repayment failure.

Unable to pay:

1. The credit card cannot be repaid due to credit card limit problems. Credit card repayments will have limit limits due to different payment methods and repayment banks. If the user uses a bank card to pay, it prompts that there is a problem with the user's limit. The user can use Alipay balance or Yu'E Bao to pay, or reduce the credit card repayment limit and divide the repayment into two.

2. The credit card cannot be repaid due to frequent reasons. Some banks have restrictions on the number of times you can use Alipay to pay off credit card debts, such as China Merchants Bank. China Merchants Bank allows a maximum of 5 repayments per card per month. If the number of repayments is exceeded, the repayment will not be possible. Users can use other methods to repay credit card balances to avoid overdue payments.

Repayment failure:

1. The credit card information is incorrect. If the information filled in by the user is inconsistent with the actual information, and the bank deposit is unsuccessful, Alipay will prompt that the credit card repayment failed.

2. The credit card status is abnormal. The status of the user's credit card is abnormal and may be frozen, reported as lost, etc. Users need to go to the card issuing bank to inquire about specific matters.

3. There is a problem with the network status. During the settlement process between banks and Alipay, bank settlement may fail due to unstable network status. Users can repay at another time.

That’s it for the introduction of why you can’t pay back your credit card.