When is a credit card considered overdue?

A credit card that is not repaid within 3 months after collection is considered overdue. Article 149 of the Civil Procedure Law stipulates that cases tried by the people using ordinary procedures shall be concluded within six months from the date of filing the case. If there are special circumstances that require an extension, it can be extended for six months with the approval of the president of the hospital; if it still needs to be extended, it must be submitted to the superior people for approval

Credit cards, also called debit cards, are issued by commercial banks or credit card companies. A credit certificate issued to credit-qualified consumers. It takes the form of a card with the name of the issuing bank, validity period, number, cardholder name and other contents printed on the front, and a magnetic stripe and signature strip on the back. Consumers holding credit cards can shop or consume at specially appointed commercial service departments, and then the bank will make settlements with merchants and cardholders. Cardholders can overdraft within the prescribed limit.

According to different card issuers, they can be divided into bank cards and non-bank cards

Bank cards. This is a credit card issued by a bank. Cardholders can shop at the card-issuing bank's special merchants, and can also withdraw cash at any time at any branch of the card-issuing bank or at places with ATMs.

Non-bank card.

This type of card can be specifically divided into retail credit cards and travel and entertainment cards. Retail credit cards are credit cards issued by commercial institutions, such as department stores, petroleum companies, etc., which are specially used for shopping in designated stores or refueling at gasoline stations, etc., and are settled regularly. Travel and entertainment cards are credit cards issued by the service industry, such as airlines, travel companies, etc., and are used for purchasing tickets, meals, accommodation, entertainment, etc.

According to the different objects of issuance, it can be divided into corporate cards and personal cards

Corporate cards. Company cards are issued to various industrial and commercial enterprises, scientific research and education institutions, national party and government agencies, military units, groups and other legal organizations.

Personal card. Personal cards are issued to urban and rural residents, including workers, cadres, teachers, scientific and technological workers, self-employed households and other adult urban and rural residents with stable sources of income. A personal card is applied for in the name of an individual and he/she bears all responsibilities for using the card.

According to the credit status, status and other credit conditions of the cardholder, it can be divided into ordinary cards and gold cards

Ordinary cards. Ordinary cards are issued to cardholders with average financial strength, credibility and status, and their various requirements are not high.

Gold Card.

The gold card is a high-end credit card that pays high membership fees and enjoys special benefits. Cards are issued to those with higher credit standing, stronger repayment ability and credit, or those with a certain social status. The authorization limit of the gold card starts from a higher level, and the additional service items and scope are much wider, so the requirements for relevant service fees and security deposits are also relatively high.

How many credit card payment dates are considered overdue

A credit card payment that is one or two days late is not considered overdue. Generally, banks will have a grace period of about two days for repayment.

In principle, if a credit card fails to pay the minimum payment by the final payment date, it is considered overdue. However, due to the existence of a repayment grace period, a credit card that is paid back two days after the repayment date is generally not considered overdue.

Most banks will provide credit card holders with a repayment grace period of about 3 days. Repayments within the repayment grace period are deemed to be repaid on time, and no interest or late payment fees will be incurred. Affect personal credit record.

However, it should be noted that different banks may have different regulations on credit card repayment grace periods. Cardholders need to understand the policies clearly if they want to take advantage of the repayment grace period.

This is the time reserved by the bank for system automatic debit errors. As long as it's before 7pm. Because UnionPay settles the payment at 7 p.m., if it is after 7 p.m., it must be overdue.

Except for the four major banks, the grace period of other banks is 3 days (Guangfa can only apply once a year).

The interest-free period is 20 days except for ICBC, Agricultural Bank of China and Bank of Communications, which are 25 days. However, some banks, such as China CITIC Bank, treat it as 19 days in actual calculation.

It should be noted that if you apply for multiple credit cards from one bank, only a few banks will only require one card to be paid back. However, most banks still require repayment to each bank card where consumption was made, commonly known as "repayment by card." Otherwise, even if you think you have completed the repayment, you will still have a credit record of penalty interest and failure to repay on time.

Credit card overdue is a very serious problem. It will cause a lot of trouble. Your personal credit record will be affected. If you apply for a credit card or loan again, you will encounter difficulties, and then you will have to bear more responsibility. There is a big financial burden, that is, the emergence of liquidated damages. What is more serious is that you may go to jail for being overdue. Let me tell you in detail below.

Overdue payment not only requires you to bear a late payment penalty of 5% of the minimum unpaid portion, but also the full penalty interest on the bill (daily interest rate of 0.5%, interest will be calculated starting from the day of consumption, and interest will be charged monthly until the principal and interest are repaid) Until it is cleared), it will also produce a bad credit record in the Credit Reference Center of the People's Bank of China, and it will be difficult to apply for credit cards and bank loans within 5 years;

It is more than three months overdue or the bank has paid more than two reminders. If you repay the loan, the bank will freeze your card and list you as a prohibited customer (blacklist). At the same time, the bank will also enforce your credit card and malicious overdraft. If you later refuse to repay and the amount you owe exceeds RMB 10,000, you will be sentenced according to Article 196 of the Criminal Law for Credit Card Crimes!

How long does it take for a credit card to be considered overdue?

Whether a credit card is overdue is based on the The repayment grace period of the card is determined.

Credit cards that are overdue will be remembered from the second day of the repayment date. Since major banks have different grace period regulations for credit card repayment, under normal circumstances, 2-3 days after the repayment date. A credit card is considered overdue only if it is repaid. It is worth noting that ICBC credit cards do not provide extended service, and repayment after the repayment date will be regarded as overdue repayment.

After using a credit card and not repaying it to the bank within the specified date, it is called overdue. The bank will charge interest for overdue repayment, with a daily interest rate of 0.05%. The interest is calculated from the date of consumption, not from the date after the final repayment date. Compound interest is calculated on a monthly basis, and the principal calculated as interest is the total consumption amount for the month.

Overdue credit card payments will face the following consequences:

Late payment fees on credit cards. The so-called late payment fee on a credit card refers to the fee that the cardholder should pay to the card-issuing bank according to regulations when the cardholder fails to repay before the due payment date (inclusive) or the repayment amount is less than the minimum repayment amount.

Overdue interest. After a user uses a credit card to overdraft, there is generally an interest-free repayment period ranging from more than 20 days to more than 50 days. If the cardholder repays overdue, all the expenses of the cardholder last month will no longer enjoy the bank's interest-free payment. treatment, and the recurring daily interest rate is as high as 0.5%, that is, the annual interest rate reaches 18%.

Bad credit history. Overdue credit card repayment records will enter the central bank's credit reporting system to generate bad credit records. Our country's personal credit reporting records have been networked nationwide. As long as individual residents have handled loan business at banks, applied for credit cards, or provided guarantees for others, they will be credited. Then you can check your credit report at any domestic commercial bank.

Litigation costs. If the credit card is not repaid for more than three months, the bank will ask a lawyer to issue a lawyer's letter to the user and file a lawsuit. The litigation costs will be borne by the cardholder.

Criminal liability for malicious overdraft. According to Article 196 of my country's Criminal Law and relevant judicial interpretations, malicious overdraft refers to the cardholder's behavior of overdrafting beyond the prescribed limit or within the prescribed period for the purpose of illegal possession and failing to return it after being called by the card issuer.

Those who maliciously overdraft and engage in credit card activities will be held criminally responsible for credit card crimes and be subject to a sentence of not more than 5 years or criminal detention, and a fine of not less than 20,000 yuan but not more than 200,000 yuan.

In principle, as long as a credit card is overdue once, it will generate a bad credit record. No matter how long the overdue period is, it will definitely be recorded in the personal credit information system under the central bank.

Generally speaking, the personal credit report provided by the central bank only gives the cardholder’s credit card usage records in the past 24 months; therefore, credit card overdue records 24 months ago will not be displayed in the personal credit report. But it takes 5 years to completely eliminate your credit history.

This is the end of the introduction about how long does it take for a credit card to be considered overdue and whether repayment within the grace period of a credit card is considered overdue. Did you find the information you need?