Credit cards are convenient and quick to use, and there is an interest-free period after overdraft. When repaying, if you can't afford to repay, you can choose the minimum repayment method to help users ease the financial pressure. However, many users have been living on the minimum repayment amount because of excessive consumption and failure to repay their card debts. So, what happens when credit cards always use the minimum repayment amount? There will be these serious consequences!

What happens when credit cards always use the minimum repayment amount?

1, full penalty interest. The credit card application platform will charge the corresponding interest fee every day from the date when the user's consumption amount was recorded in the previous period, until the user pays off the arrears in full. Therefore, if the user has been using the minimum repayment amount, the interest will be calculated according to compound interest, and the arrears will be more and more, increasing the repayment pressure of the user.

It is difficult to control consumption. Due to the long-term use of credit cards for the minimum repayment, users do not feel the high interest expenses, and think that there is no repayment pressure at present, so they will not control their consumption desires, thus forming a blind consumption concept, leading to the quagmire of arrears.

3. Bad credit record. Long-term repayment with the minimum repayment amount will lead to more and more arrears of users, and it is easy to make ends meet, so that credit card arrears cannot be paid off and personal credit records will be affected. As long as the user's credit record qualification is damaged, it will be difficult to successfully apply for credit products in the future.

4. Reduce the quota and seal the card. The minimum repayment amount for long-term use of credit cards will make banks suspect that users do not have enough economic strength, which may reduce users' credit cards. If the overdue situation is caused, the user will be banned, which is equivalent to being blacklisted by the bank, with very serious consequences.

5. The debt ratio has increased. The operation that users always pay the minimum repayment amount will make the proportion of users' personal liabilities increase continuously, and it is easy to be unable to repay when due, which has a great impact on users' comprehensive qualifications, and users' future credit activities may not be carried out normally.

Therefore, users must pay attention to their own consumption behavior when using credit cards, and use them within the scope of their own economy, so that there will be no excessive consumption and eventually inability to repay.