During the probation period, credit card debt must be repaid on time. If it exceeds the repayment ability and is willing to repay, you can negotiate on an equal footing with the card-issuing bank to reach a personalized installment repayment agreement. The maximum term of a personalized installment agreement shall not exceed 5 years.

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 owed by a credit card exceeds the amount owed by the cardholder If the cardholder has the ability to repay the card and 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;

(6) Other matters related to repayment.

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.