Relevant provisions of China Bank Card Industry Self-discipline Convention:

Article 14 Member units should strive to improve the service quality of credit cards, provide humanized services for cardholders, and advocate card issuers to establish "tolerance service and time-sensitive service" for credit card repayment or to give interest relief to the repaid part of credit card overdraft during the interest-free repayment period:

(1) When providing "time-tolerant service" to cardholders, member units shall provide cardholders with a repayment grace period of a certain period, and the repayment grace period shall be at least 3 days from the due repayment date; If the cardholder repays within the repayment grace period, it is deemed that the cardholder repays on time.

(2) Member units provide "tolerance service" for cardholders. If the cardholder fails to repay in full in the current period, and the unpaid part in the account after the due repayment date is less than or equal to a certain amount (at least equivalent to RMB 10 yuan), it is deemed that the cardholder has repaid in full.

"Time-tolerant service" advocated by China Bank Card Industry Self-discipline Convention formulated by China Banking Association aims to provide credit card holders with a grace period for repayment, reduce their overdue records and protect their interests. The starting point of this advocacy is good, but from the actual effect, it is the destruction of social credit system construction and "contract spirit" If commercial banks adopt it, there will be two repayment dates, which is not conducive to the establishment of the mechanism of "trustworthiness incentive and dishonesty punishment" in the construction of social credit system.

Consequences of not changing the card after timeout:

1. Calculate the penalty interest.

Article 23 of the Measures for the Management of Bank Card Business stipulates: "Credit card overdrafts will be compounded monthly, and quasi-credit card overdrafts will receive simple interest monthly. The overdraft interest rate is 0.5 ‰ of the daily interest rate, which will be adjusted according to the current interest rate adjustment of the People's Bank of China." Item 4, Paragraph 3 of Article 3 of the credit card collection contract of commercial banks stipulates: "Party B shall calculate overdraft interest on Party A's trading funds that do not meet the interest-free conditions from the bank bookkeeping date, and the overdraft interest rate shall be 0.5 ‰ (the annualized interest rate is about 18.25%, and the actual annualized interest rate may be different from the above-mentioned annualized interest rate due to different days of each month and different repayment conditions of Party A), and compound interest on a monthly basis.

For example, if Zhang San spends 654.38+ten thousand yuan, the bookkeeping date is 2021.1.30, and the repayment date is 2022 1. 1.00, which takes 42 days, and overdraft interest is required to be paid 2/kloc. 500 yuan, the overdue fine, will be collected on the same day of 20 18 65438+ 10, and returned on the same day of 65438+1 0/2. Total use 1 day, overdraft interest is 0.25 yuan, that is, 500× 0.05 %× 65438. The total overdraft interest of RMB 654.38+ and 500 yuan is RMB 265.438+000.25.

2. Report to the People's Bank Credit Information Center.

This overdue payment will be reported by the bank to the Credit Information Center of the People's Bank of China and recorded in the credit information report.

In short, credit card repayment should not exceed the repayment period. If the capital turnover is really difficult and it is impossible to repay in full, you can repay the minimum repayment amount by installments or make up the remaining amount later at the cost of a little handling fee to avoid overdue records in the credit report.