1. Give "irresistible" reasons

According to the "Regulations on the Supervision and Administration of Credit Card Business of Commercial Banks", cardholders must be unable to repay before they can apply for a personalized credit card. Therefore, before applying, everyone must first express that they are overdue due to irresistible reasons.

2. Show your determination to repay the loan and your attitude of giving priority to repaying the bank's credit card. Choose forced installment or you will be unable to repay.

Each bank has different policies regarding overdue time and amount. Once the application is rejected, there is little hope of successful application. If you are worried about being rejected, you can also seek legal help and strive for the maximum amount of reduction, divided into 60 installments.

1. How to calculate overdue penalties and interest on credit cards

1. Liquidated damages

If the cardholder fails to repay the payment on the due date (inclusive) If the minimum repayment amount of the previous period's bill is paid before, the bank will charge corresponding liquidated damages based on 5% of the unpaid portion of the minimum repayment amount in accordance with the "Bank Credit Card Regulations", with a minimum charge of RMB 10 yuan or USD 1 yuan.

2. Interest

Interest is the so-called penalty interest, which is divided into full penalty interest and unpaid penalty interest. Simply put, it means that you did not repay the loan at the end. Repay within the deadline. Then all the consumption amounts in your current bill will be charged interest at 0.05% every day from the second day when the card is swiped until it is paid off.

2. What are the consequences of an overdue credit card?

1. Overdue penalties include not only liquidated damages, but also full penalty interest on the bill (daily interest rate of 0.5%, interest will be calculated starting from the day of consumption. Press Interest is charged monthly until the principal and interest are paid off) and it will also produce a bad credit record in the Credit Reference Center of the People's Bank of China. It will be difficult to apply for credit cards and bank loans within 5 years.

2. If you are overdue for more than three months or fail to repay more than two bank reminders, the bank will freeze your card and list you as a prohibited customer (blacklist). At the same time, you will be sued for credit card fraud and malicious overdraft, and the court will enforce it.

If you want to apply for a suspension of interest rates on your credit card, you should take the initiative to negotiate with the bank. Everyone's financial ability is different, so their repayment ability will naturally be different. If we owe a credit card and are unable to repay, we can apply to the bank for an interest suspension and adopt a personalized repayment method.

Legal basis:

Article 70 of the "Measures for the Supervision and Administration of Credit Card Business of Commercial Banks" Under special circumstances, it is confirmed that the amount of credit card debt exceeds the cardholder's repayment ability and that If the cardholder is still willing to repay, the card-issuing bank can negotiate with the cardholder on an equal footing to reach a personalized installment repayment agreement. The maximum term of a personalized installment agreement shall not exceed 5 years.

The contents of the personalized installment repayment agreement should at least include:

(1) Arrears balance, structure, currency;

(2) Repayment Period, method, currency, date and repayment amount of each period;

(3) Whether annual fees, interest and other fees will be charged during the repayment period;

(4) Holding Cardholders shall not apply for a credit card commitment from any bank before all amounts related to the personalized installment agreement have been settled;

(5) Rights, obligations and liability for breach of contract by both parties;

If both parties reach an agreement and sign an installment repayment agreement, the card-issuing bank and its card-issuing business service agency shall stop collecting payments from the cardholder, unless the cardholder fails to fulfill the installment repayment agreement. If an oral repayment agreement is reached, the card-issuing bank must retain the recording materials. The recording data will be retained at least until the date of settlement of the debt.