Everyone will have several credit cards in their hands, which can be of great help when we are in urgent need of funds. However, when the bill is too large, many people will choose the minimum repayment, so will credit card repayment affect credit reporting? Let's learn more about it with Xiaobian!

will the minimum repayment by credit card affect the credit investigation?

The minimum repayment of a credit card will not affect the credit information. The minimum repayment is a normal repayment method provided by the bank to the cardholder. As long as the cardholder repays the minimum repayment amount, the bank will not regard the cardholder as overdue, so it will not affect the credit information. However, the interest-free period cannot be enjoyed by using the minimum repayment function. For the remaining unpaid amount, the bank will charge interest at the daily interest rate of .5%, and compound interest will be calculated on a monthly basis until the user pays off the arrears. If the user fails to pay off the remaining arrears for a long time, the interest will be more and more.

what are the negative effects of the minimum repayment of credit cards?

(1) Interest is generated

When the credit card repays, only the minimum repayment amount will be paid, and then interest will be charged after the due repayment date.

(2) There is a risk of overdue

If the minimum repayment is made all the time, it will lead to more and more money to be repaid, so in the long run, it may lead to overdue because it is sometimes not paid.

(3) It is not conducive to the withdrawal

If a credit card wants to withdraw the amount, it needs to be repaid on time in addition to spending more by swiping the card, and the bank prefers to repay in full and properly handle the installment. If it keeps the minimum repayment, it is not conducive to the withdrawal of the credit card, and there is the possibility of being reduced.

(4) Make cardholders feel dependent

Some users think that the minimum repayment of credit cards can reduce the current repayment pressure, so they choose the minimum repayment every time. In the long run, the minimum repayment amount is also accumulating, which will make you snowball unconsciously.

that's the introduction of "will the minimum repayment of credit card affect the credit investigation?" Although the minimum repayment of credit card will not affect the credit investigation, it will generate high interest, so you should think clearly before handling it.