1. How is the interest rate for credit card borrowing calculated?
It is calculated at 0.5% per day;
The interest rate for credit card overdraft will be Generate interest. Currently, all banks charge fees for withdrawing cash. If it is an overdraft withdrawal, interest is calculated from that day. In this way, cardholders not only have to pay tens of yuan in handling fees, but also pay overdraft interest of 0.5% per day. As for the reason why there are handling fees for credit card withdrawals, unlike the nature of withdrawals on debit cards, overdrafts on credit cards are already classified as "loans in the bank, and the loans of course have interest."
2. What to do if you lend a credit card to someone else but don’t repay it
If you lend a credit card to someone else but don’t repay it, you can resolve it through negotiation, or you can directly go to court to sue.
The cardholder and the borrower must communicate and negotiate first. If the borrower still fails to repay the card, if the cardholder has evidence to prove that the other party spent the money, he can sue the other party in court to make the other party repay the money. If there is no evidence, only the cardholder himself is responsible for the repayment. Refusal to pay larger repayments may lead to credit card fraud. Cardholders need to be reminded that if a credit card is lent to others and others fail to repay the loan, the cardholder will be legally responsible. Because our country's laws stipulate that it is illegal to borrow credit cards.
3. What are the legal consequences of overdue credit cards?
1. Overdue credit card fees.
The so-called overdue credit card fees refer to the fees that should be paid to the card-issuing bank according to regulations when the cardholder fails to repay before the due payment date (inclusive) or the repayment amount is less than the minimum repayment amount. cost.
2. Overdue interest.
After a user uses a credit card to overdraft, there is generally an interest-free repayment period ranging from more than 20 days to more than 50 days. If the cardholder's repayment is overdue, all the cardholder's expenses for the previous month will be forfeited. No longer enjoy the bank's interest-free treatment, but the recurring daily interest rate is as high as 0.5%, that is, the annual interest rate reaches 18%.
3. Bad credit record.
Overdue credit card repayment records will enter the central bank’s credit reporting system to generate bad credit records. Our country’s personal credit reporting records have been networked nationwide. As long as individual residents have handled loan business at banks, applied for credit cards, or have If someone else has provided a guarantee, you can check the credit report at any domestic commercial bank.
4. Litigation costs.
If the credit card is not repaid for more than 3 months, the bank will ask a lawyer to issue a lawyer's letter to the user and file a lawsuit in court. The litigation costs will be borne by the cardholder.
5. Criminal liability for malicious overdraft.
Malicious overdraft refers to the cardholder's behavior of overdrafting beyond the prescribed limit or within the prescribed period for the purpose of illegal possession, and still refuses to return the card after being called upon by the card issuer. Those who maliciously engage in credit card fraud through overdraft will be held criminally responsible for credit card fraud and be sentenced to fixed-term imprisonment of not more than 5 years or criminal detention, and a fine of not less than 20,000 yuan but not more than 200,000 yuan.
An overdue credit card will generate an overdue interest, and the calculation of this interest will be determined by the bank according to the interest rate stipulated by the country. As long as one day is overdue, there will be one day of interest. Therefore, when the credit card expires You must fulfill your repayment obligations on time and cannot refuse for any reason, so as to ensure that you will not bear other legal responsibilities.