Consequences of credit card failure to repay on time

Consequences of credit card failure to repay on time include: 1. Bad credit record; 2. Bear a high penalty interest, calculated at 5/1 per day; 3. Late payment fee is required, which is generally calculated as 5% of the unpaid part of the minimum repayment amount, depending on the regulations of each bank; 4. Credit card malicious overdraft may also face criminal punishment; 5. If you are blacklisted by the bank, you can no longer have a credit relationship with the bank within 5 years from the date of paying off the arrears. Article 196 of the Criminal Law The crime of credit card, which involves credit card activities in any of the following circumstances, shall be sentenced to not more than five years or criminal detention and fined not less than 2, yuan but not more than 2, yuan; If the amount is huge or there are other serious circumstances, it shall be sentenced to not less than five years but not more than ten years, and a fine of not less than 5, yuan but not more than 5, yuan shall be imposed; If the amount is especially huge or there are other particularly serious circumstances, it shall be sentenced to not less than 1 years or, in addition, a fine of not less than 5, yuan but not more than 5, yuan or confiscation of property: (1) using a forged credit card or using a credit card fraudulently obtained with false identification; (2) using an invalid credit card; (3) Fraudulent use of another person's credit card; (4) Malicious overdraft. The term "malicious overdraft" as mentioned in the preceding paragraph refers to the act that the cardholder overdraws beyond the prescribed limit or time limit for the purpose of illegal possession, and still refuses to return it after being urged by the issuing bank. Those who use credit cards simultaneously shall be convicted and punished in accordance with the provisions of Article 264 of this Law.

What will happen if the credit card fails to repay on time?

The consequences of the credit card's failure to repay on time are as follows: 1. The issuing bank will calculate the interest on a daily basis with the consumption amount as the principal, with a daily interest rate of five ten thousandths and compound interest on a monthly basis; For the unpaid part of the minimum repayment amount, a monthly fine of 5% will be charged. 2. Receiving a reminder call or letter from the issuing bank. 3. The credit card account is frozen by the issuing bank, which affects the cardholder's personal credit record and leads to the cardholder's impermanence in applying for loans. Article 669 of the Civil Code of the People's Republic of China stipulates that when concluding a loan contract, the borrower shall provide the true information about the business activities and financial status related to the loan according to the requirements of the lender.

How to deal with the credit card's failure to repay on time

The consequences of credit card's failure to repay on time will result in overdue interest, and it will also affect your credit information; If the collection is repeated for more than 3 months, it will be judged as malicious overdraft, which will constitute a credit card crime and will be investigated for criminal responsibility. Article 196 of the Criminal Law commits the crime of credit card under any of the following circumstances, and if the amount involved is relatively large, he shall be sentenced to not more than five years or criminal detention, and shall also be fined not less than 2, yuan but not more than 2, yuan; If the amount is huge or there are other serious circumstances, it shall be sentenced to not less than five years but not more than ten years, and a fine of not less than 5, yuan but not more than 5, yuan shall be imposed; If the amount is especially huge or there are other particularly serious circumstances, it shall be sentenced to not less than 1 years or, in addition, a fine of not less than 5, yuan but not more than 5, yuan or confiscation of property: (1) using a forged credit card or using a credit card fraudulently obtained with false identification; (2) using an invalid credit card; (3) Fraudulent use of another person's credit card; (4) Malicious overdraft. The term "malicious overdraft" as mentioned in the preceding paragraph refers to the act that the cardholder overdraws beyond the prescribed limit or time limit for the purpose of illegal possession, and still refuses to return it after being urged by the issuing bank. Whoever uses a credit card concurrently shall be convicted and punished in accordance with the provisions of Article 264 of this Law.

What will happen if the credit card fails to repay on time?

The consequences of the credit card's failure to repay on time are: failure to repay on time is overdue. Not only will there be a 5% overdue fine for the unpaid part, but there will also be a penalty interest for the full amount of the bill (the daily interest will be five ten thousandths, and the interest will start to accrue on the day of consumption, and the interest will be recovered on a monthly basis until the principal and interest are paid off), and there will also be a bad credit record in the Credit Information Center of the People's Bank of China, which will seriously affect the application for credit cards and bank loans within five years. If the payment is overdue for more than three months or the bank has made more than two reminders, the bank will freeze your card and list it as a prohibited customer (blacklist). At the same time, the credit card and malicious overdraft will be enforced. Article 196 of the Criminal Law, in any of the following circumstances, engages in credit card activities, and if the amount is relatively large, it shall be sentenced to not more than five years or criminal detention, and shall also be fined not less than 2, yuan but not more than 2, yuan; If the amount is huge or there are other serious circumstances, it shall be sentenced to not less than five years but not more than ten years, and a fine of not less than 5, yuan but not more than 5, yuan shall be imposed; If the amount is especially huge or there are other particularly serious circumstances, it shall be sentenced to not less than 1 years or, in addition, a fine of not less than 5, yuan but not more than 5, yuan or confiscation of property: (1) using a forged credit card or using a credit card fraudulently obtained with false identification; (2) using an invalid credit card; (3) Fraudulent use of another person's credit card; (4) Malicious overdraft. The term "malicious overdraft" as mentioned in the preceding paragraph refers to the act that the cardholder overdraws beyond the prescribed limit or time limit for the purpose of illegal possession, and still refuses to return it after being urged by the issuing bank.

what if the credit card is not repaid in time?

as we all know, credit cards can make us overdraw, but at the same time, they also have billing date and repayment date. The billing date is the bill of the amount you spent last month, and the repayment date is the amount overdrawn by the credit card before repayment. But what if the credit card fails to repay in time?

1. If you really can't repay, you can call the bank to apply for an extension, which is a more appropriate method.

2. You can also borrow money from friends and relatives for repayment first, and at least pay the minimum repayment amount, so as to ensure that your personal credit record will not be affected. Otherwise, it will be recognized as overdue by the bank, and you can't apply for credit cards and loans for several years.

3. In addition, it should be noted that banks now have a three-day grace period for credit card repayment, and it is not overdue to repay the credit card debt within three days after the final repayment date of the credit card.

The above is the solution to the credit card's failure to repay in time. Please hurry up and learn about it.

let's stop here for the introduction of credit card failure to repay in time.