Consequence 1: high penalty interest is generated.

The first is to pay late fees. The late payment fee refers to the late payment fee that the cardholder needs to pay for the unpaid part of the minimum repayment amount when the actual repayment amount on the due repayment date of the credit card is lower than the minimum repayment amount. The calculation method is 5% of the unpaid part of the minimum repayment amount.

Secondly, the cardholder has to bear a high penalty interest. At present, except ICBC, all other banks are paying full penalty interest. Full penalty interest means that even if the customer repays the part, the repayment part is not deducted when calculating the penalty interest, and the interest expense is usually calculated at the daily interest rate of five ten thousandths.

Finally, if you don't pay back for one month, your credit card late fees and penalty interest will roll into next month's bill, so you will only owe more and more!

Consequence 2: Affect personal credit information

The overdue credit card will be recorded in your personal credit report, which will have an impact on your future application for credit card and loan processing. If you have been blacklisted by the bank, you will not be able to apply for this bank credit card.

If the credit card is overdue for no more than three times in a row and no more than six times in two years, it will not have much impact on your mortgage application, but it should be noted that the amount cannot exceed 1 000 yuan, and each overdue time cannot exceed 90 days. Once it exceeds 90 days, the bank will think it is maliciously overdue.

Consequence 3: being sued by the bank

If you maliciously overdraw your credit card for more than 90 days, the bank can sue you. Many bank credit card centers hand over the credit card repayment collection work to "debt collection companies", and they will go directly to the cardholder's residence or even their hometown to collect debts!

Credit card withdrawal:

1. Personal credit can be accumulated slowly in normal use. For example, operations that can bring benefits to banks, such as spending more, applying for installment or withdrawing cash, are easier to increase the quota;

2. Can provide proof of good economic strength, such as a copy of real estate license and a copy of automobile driving license; Copy of bank loan account or deposit certificate.

The premise of raising the amount is that the credit record is good.