Do you know the impact of paying off a dollar less on your credit card?

In modern life, credit cards are absolutely indispensable. However, the pace of life is too fast. Many people may forget to repay the loan. Even if it is only one dollar, you will be burdened with it. If you forget to repay your bank debt, even one dollar will have adverse effects. Let’s take a look:

First of all, the biggest impact is that there will be a bad credit record

Although banks are not very stingy and usually have a grace period for credit card repayments, if you keep forgetting to repay, even if you forget to repay this dollar, then the bank will If you are put on the credit blacklist, it will be very difficult to apply for a loan or apply for a credit card. If you maliciously delay the payment, you may even be directly rejected by the bank.

The second impact is that the bank will charge you overdue fees, which are very high fees.

According to regulations, currently Most banks charge a certain amount of interest for overdue repayments, usually 0.5%. Moreover, the interest accrual date is calculated from the date of consumption, not the date after the final repayment date. The gap between the full amount of penalty interest and the interest on the unpaid portion is still very huge. Everyone must be wary of the impact of cyclic interest brought about by the full amount of penalty interest.