1. If the credit card fails to repay on time, there will be a penalty, which is generally the minimum repayment amount, 5% of the unpaid part.
2. If the credit card fails to repay on time, it will generate high interest, and it is rolling interest. In the case of more debts, interest will be high.
3. Overdue will tarnish the credit record, resulting in the inability to handle financial needs such as buying a house and lending in the next two years.
4. The overdue payment is more than 3 months, and the amount exceeds 1 000 yuan, and the bank has repeatedly failed to make dunning. At that time, you will not only pay back the money, but also bear criminal responsibility.
Extended data
Generally speaking, every bank will charge a certain interest for overdue repayment, which is different from each bank, and is generally five ten thousandths of the interest. However, the value date should be calculated from the date of consumption, not from the day after the last repayment date.
It is suggested that if the total amount is not repaid, the minimum repayment amount can be repaid first, without affecting the credit line. At the same time, there will be a buffer period, so that the bank can know the flow of funds in your account in time and will not freeze the account!
When a credit card (debit card) holder chooses the minimum repayment method or uses a card that exceeds the credit limit approved by the issuing bank, he will no longer enjoy the interest-free repayment period, and will pay overdraft interest calculated at the prescribed interest rate for the unpaid part from the bank bookkeeping date.
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