Under normal circumstances, a credit card is overdue if it has not been repaid after the last repayment date. But banks usually give credit card holders a grace period of about 3 days for repayment. Repayment within the grace period is on time and not overdue.
However, if the grace period is exceeded, it is overdue, so the repayment is overdue after five days, and the bank will report the overdue record to the central bank for credit investigation.
I. Serious consequences of overdue credit cards:
1, resulting in overdue interest and late fees;
2. Bad credit record;
3. Banks will collect money and may face criminal problems.
Second, the credit card overdue solution:
1. If the cardholder forgets to repay and finds it overdue, he must repay as soon as possible, preferably in full. Call the bank's credit card center and declare the non-malicious arrears. If the overdue time is short, the bank may not calculate the bad record;
2. When the credit card cannot be repaid due to unemployment, illness and other reasons, before the repayment period, the cardholder should take the initiative to get in touch with the bank credit card center to explain his financial situation, declare that he is not in bad faith, and apply for deferred repayment or installment repayment;
3. When the cardholder voluntarily applies for deferred repayment, the bank will often agree to defer repayment, and the bank and the cardholder will agree on a repayment plan acceptable to both parties. In this way, the bank will not record bad records, but it must repay on time after applying for an extension;
4. Credit card repayment information The central bank's credit information system rolls for 24 months, and the credit card overdue repayment record will be kept in the credit information system for two years. If the card is found to be cancelled directly after it is overdue, the information will not scroll, but will be kept for a long time. Therefore, after the cardholder is overdue, it is best not to cancel the credit card immediately. It is best to stick to it for more than 2 years and then maintain a good credit record.
Three. What is overdue repayment:
1. Overdue repayment refers to the situation that the final repayment period stipulated by the bank is exceeded and the consumption money is not deposited in the designated account in full and on time. Overdue will generate interest, affect the credit, and will be severely punished in prison.
Generally speaking, every bank will charge a certain interest for overdue repayment, which is different from each bank, and is generally five ten thousandths of the interest. However, the value date should be calculated from the date of consumption, not from the day after the last repayment date.
3. The minimum repayment amount can be paid before the total recommended amount is paid, which will not affect the credit line. At the same time, there will be a buffer period, so that the bank can know the flow of funds in your account in time and will not freeze the account!
4. When the credit card (debit card) holder chooses the minimum repayment method or uses the card that exceeds the credit limit approved by the issuing bank, he will no longer enjoy the interest-free repayment period, and the overdraft interest will be calculated at the specified interest rate from the bank bookkeeping date.
Does it matter if I forget to return my credit card for 5 days?
Have an impact.
If the credit card is forgotten for 5 days, it will generate overdue interest, and the overdue record will also be uploaded to the credit information. Some credit cards have a grace period of 1-3 days, so they forget to repay for 5 days. In fact, the overdue time is only 2-4 days. At this point, the user must settle the arrears as soon as possible, and call the bank to show that he is not maliciously overdue, and issue a non-malicious overdue certificate after the credit card is settled.
Of course, the overdue records of users need to be kept for 5 years before they can be deleted, but such overdue days are extremely short, and as long as they are paid off in time, it will not have a particularly adverse impact on credit reporting.
Consequences of overdue repayment of credit cards
1. Generate credit card late fee.
The so-called credit card late payment fee refers to the fee that the cardholder should pay to the issuing bank according to the regulations when the repayment date (inclusive) is overdue or the repayment amount is lower than the minimum repayment amount. Generally, according to the number of days exceeding the prescribed time limit, a certain proportion of the amount payable is levied every day. According to the theory of administrative law, late payment is an execution penalty in administrative enforcement.
2. Generate overdue interest.
After users overdraw with credit cards, there is generally an interest-free repayment period ranging from more than 20 days to more than 50 days. As long as the cardholder fails to pay off all the overdraft fees within the prescribed time limit, the cardholder will no longer enjoy the interest-free treatment of the bank for all the expenses last month.
At present, in the charge of overdue repayment of credit cards, banks generally adopt the calculation method of cyclic interest. Cyclic interest is based on each amount on the bill (including consumption principal, cash principal borrowed in advance and paid interest), and the account bookkeeping date is the interest-bearing start date until the account payment date. And the daily interest rate of circulation is as high as five ten thousandths, that is, the annual interest rate reaches 18%!
3. The litigation costs incurred.
If the user overdraws for 2 months and fails to repay, the bank will call to remind the user to repay. If the repayment is not made, the bank will find a lawyer to send a lawyer's letter to the user.
4. Bad credit record.
Credit card users' overdue repayment will be recorded in bad credit records, and the basic database of personal credit information has been networked nationwide. As long as individual residents have handled loan business in banks, applied for credit cards, or provided guarantees for others, credit reports can be found in any domestic commercial bank. Bad records will affect cardholders' schooling, job selection and loans.
Is the credit card overdue for 5 days?
If the credit card is returned five days late, it will expire. Credit cards generally have a three-day grace period. If repayment is made within the three-day grace period, it will be regarded as normal repayment. If the cardholder's repayment time exceeds five days, it will be deemed overdue, and the bank will upload the overdue information to the central bank's credit information system.
Common credit card repayment methods in China mainly include the following categories (according to the cost level):
Intra-bank repayment
The repayment methods mainly include: issuing bank counter, ATM, online banking, automatic transfer, telephone banking repayment, etc. The credit card limit will be restored immediately after repayment, and the money will generally be recorded after being processed by the system on the same day.
Mobile phone repayment
Mobile phone is a personal payment terminal of mobile financial system, which can be used for direct repayment and transfer by credit card. Arrive immediately!
Convenience store repayment
Convenience store repayment is mainly completed through the "Lacarra" smart payment terminal installed in the convenience store. Generally, it will arrive in 2~3 working days, and there is no handling fee for repayment in this way.
Network repayment
Common online repayment methods in China are: Baidu Wallet, UnionPay Online, Kuaiqian, Shengfutong, Alipay, Yifubao and so on. Choose different platforms and banks, and the charging standards and specific arrival time are different.
Make an inter-bank transfer
Inter-bank transfer/remittance repayment is mainly divided into two ways: inter-bank in the same city and inter-bank in different places. Whether it is transfer or remittance, the remittance bank will charge a certain fee, and the payment time and repayment convenience are not as good as those of peers, online repayment and convenience stores.
Guimiantong
Counter link refers to the bank card issued by various networked financial institutions, and the RMB current deposit and withdrawal transactions are conducted through the counters of other bank outlets registered in the mainframe system of UnionPay Trading Center.
Lacarra
Cardholders can complete credit card repayment, mobile phone recharge, online bill payment and other services through convenience stores, bank outlets or terminals that purchase "Lacarra" equipment.
Xinfutong
"Xinfutong" smart card phone is an innovative electronic product independently developed by China UnionPay, certified by Bank Card Testing Center and supported by financial services provided by China UnionPay's inter-bank information exchange network.
Repayment pass
Using the "Repayment Pass" for repayment, the fees are generally charged according to the charging standards for inter-bank transfer in the same city and inter-bank remittance in different places stipulated by the local people's bank.
Intelligent repayment
The main function of the new industry is to use the balance of 5%- 10% in the card to make a good consumption repayment plan, and then automatically recover the consumption repayment through a licensed payment company to achieve the purpose of full repayment, and charge a certain handling fee. The basic functions are bill management, local payment, card-free application, etc.
What if the credit card is overdue for 5 days?
1. If it is unable to repay, it shall explain the reasons in time.
If you can't repay on time due to unemployment, illness and other reasons, you can state your financial situation and declare that you have no malicious arrears before the repayment deadline, and you can call the bank customer service to apply for deferred repayment and interest concessions.
2. It is best to repay in full.
The credit card is overdue for five days due to carelessness, and it must be repaid in full as soon as possible after it is found overdue. Full repayment is definitely the best way, because after full repayment, call the bank to explain that it is not malicious arrears and ask for the elimination of overdue records, which has the best chance of winning.
3. Never run away
If the credit card is overdue for five days, it will not cause indelible harm to the cardholder. If the overdue time is long, the credit card will be profitable and the late payment fee will be high. If you choose to ignore or run away, the bank will think you overdraw maliciously, which means you may call the police.
4. Continue to use this card well
If the credit card is unfortunately overdue for five days, the best way is to continue to use this card and overwrite the original negative record with the new normal repayment record. Generally, a new credit record will be generated after 24 months, so that personal credit will not be affected after refreshing the record.
Precautions for credit card use:
1. Pay attention to two dates: bookkeeping date and repayment date.
Generally, the repayment date is 20 or 25 days after the bill date, with the longest interest-free period and the shortest interest-free period.
2. Credit card information protection.
The three key information on the face of a credit card: the expiration date and the CVV code, affect your card security, especially the CVV code, which is as important as the password. It is recommended to cover CVV code with correction fluid or sticker, and some people are even worse. Scrape off the CVV password with a blade and remember these three numbers.
3. Diligently handle credit cards, in order to avoid annual fees; Only when the repayment is made on time can the amount be withdrawn.
Generally, you can avoid the annual fee by swiping your card six times. So be sure to pay the annual fee. In addition, we can increase the credit card limit by swiping more cards and swiping frequently. At the same time, being able to repay on time and maintain a good credit record is also a way to improve the credit limit. Moreover, in 2022, mobile POS card-free payment is also very convenient, which belongs to online consumption. Combined with daily offline consumption, a variety of combinations are used.
4. Choose the repayment method that suits you best.
In this information age, repayment methods are diversified, and you don't have to go to bank outlets or ATM to transfer repayment.
5. If you can't, or delay repayment due to something, you can call customer service to apply for deferred repayment.
If your funds can't be turned over temporarily, or you are delayed in repayment due to something, don't worry, call the bank customer service immediately and apply for a delay of repayment for one to three days.
So much for the introduction of credit card overdue for five days.