A credit card is not a one-time payment. On the repayment date, users can choose to repay in full, minimum repayment or installments. One-time repayment usually means that after the user chooses to pay off the credit card in installments, the repayment plan is changed midway. The user wants to pay off the installment debt in advance, so he chooses to pay off in one time.
1. Credit card debts need to be paid off in one go
1. Credit card bills do not have to be paid off in full at one time. In addition to paying off the balance in full, customers can also choose to do so. Bill installments, or minimum payments. As long as the customer repays within the specified repayment period, and the repayment amount is not less than the minimum repayment amount of the bill, that means repayment on time will not cause overdue payment and affect personal credit.
2. Of course, it would be best if you can pay it off in full. After all, if customers pay off their credit card bills in full and on time, no interest will accrue and they can enjoy the interest-free period. And if the payment is not repaid in full, then recurring interest will accrue, which will be charged one by one from the time the consumption is recorded, and compound interest will be charged monthly until the cardholder repays everything.
3. However, if the credit card bill amount is large and the customer is really unable to pay it off in full within the specified repayment period, in order to avoid overdue payment, you can also choose installment repayment or minimum repayment. If the funds can be turned over in a short period of time, you can choose the minimum repayment; if the funds will be tight for a long time in the future, it is better to choose installment repayment.
2. What will happen if a credit card is overdue and is sued?
1. The bank’s continuous reminders
When a borrower repays overdue, the bank’s credit card customer service The center will first make multiple phone calls; if the payment is still outstanding, the bank will entrust a third party to collect the money, usually through continuous phone calls, text messages, or even door-to-door collection; after repeated calls for payment but not repayment, the bank will The court prosecutes.
2. Being sued by the bank and unable to apply for a loan
The cardholder will be added to the credit blacklist and unable to apply for a loan. The court will collect collection. After receiving the court summons, after investigation and Persuade and urge repayment, but if the cardholder refuses to repay, the court can take enforcement action; subsequently, the court will liquidate the cardholder's assets to repay the card debt and freeze the relevant property.
3. Malicious default will lead to imprisonment and fines
A credit card that is overdue for three months can be regarded as a malicious overdraft penalty. However, if you communicate with the bank in advance and prove your repayment, If you have a repayment ability and a repayment plan, you will generally not face criminal liability. However, the court ruled that cardholders who still do not return will be dealt with in accordance with the "Criminal Law". In serious cases, they may face consequences of three years in prison and fines. In particularly serious cases, they may face longer term imprisonment of three to seven years and fines. fine.
3. Precautions for using credit cards
1. Credit cards are a very popular way of overdraft consumption. When the credit card is not in use, you must pay attention to canceling the card or closing the account.
2. Since the credit card will still generate annual fees every year after it is not used, if the annual fee is not paid in time, the credit card will be overdue. Once the credit card is overdue, there will be a bad credit record, and at the same time, the credit card will be overdue. There will be penalty interest and late fees.
3. In addition, some credit cards may incur annual fees even if they are not activated, but these are generally high-level credit cards, so you need to pay attention to this when applying for a card.
Credit card bills do not have to be paid off in full at once. In addition to full repayment, customers can also choose to pay the bill in installments or make minimum repayments. Of course, it would be best if you can pay it off in full. After all, if customers pay off their credit card bills in full and on time, no interest will accrue and they can enjoy the interest-free period.
Legal basis:
According to Article 196 of the "Criminal Law" and relevant judicial interpretations, malicious overdraft means that the cardholder overdrafts beyond the prescribed limit or within the prescribed period for the purpose of illegal possession. , and the behavior of not returning the money after being called upon by the card issuer; malicious overdraft to carry out credit card fraud activities, and those with larger amounts will be held criminally responsible for credit card fraud.