The consequences of paying off your credit card are as follows:

1. Interest

If your credit card is overdue, you will have to pay two fees, one is the late payment fee and the other is the penalty interest. . The late payment fee is usually 5% of the unpaid portion of the minimum repayment amount, and the interest is 0.05% per day, and the interest is compounded.

2. Be on the blacklist

If you have a lot of overdue payments or serious refusal to repay due to malicious intent, you will be on the blacklist, making it difficult to get a car or house loan. In addition, once you are on the blacklist, your credit record will be affected.

3. Legal liability

Once the bank sues, you will also be held accountable by law. If you maliciously overdraft your credit card for more than 90 days, the bank can sue.

Extended information

Points to note when using credit cards

1. Please apply for a credit card through formal channels or official websites

2. Sign a credit card application Please carefully read the credit card usage regulations and charging standards when using the contract

3. The credit card must not be lent to anyone else. If there is any problem, the bank will only hold you responsible

4. No matter If you have conflicts with the bank or have questions about consumption or other situations, please try not to express your dissatisfaction by not paying back the money, because credit cards will directly affect your personal credit report, and in serious cases, it may have an impact on your children's political review

5. Overdue credit cards are not ordinary civil loan disputes. Once the overdue principal exceeds 10,000 yuan, you can call the police in accordance with the relevant provisions of Article 196 of the Criminal Law. You will face fixed-term imprisonment or criminal detention, and you will be fined a minimum of 20,000 yuan. The fine is turned over to the treasury

Reference: Baidu Encyclopedia: Credit Card Collection