Is there a grace period for Bank of Communications credit cards?

There is a grace period for Bank of Communications credit cards.

BoCom’s grace period is generally 3 days. As long as the debt is paid off within the grace period, it will not be considered overdue. In addition, the Bank of Communications credit card also provides cardholders with a 10 yuan tolerance service. For example, if you owe 100 yuan that month and you only repay 90 yuan, the bank will regard you as repaying the full amount. , will not be counted as overdue.

1. The meaning of credit card grace period

Cardholders who repay within a period of time after the due payment date can apply to the credit card center to reduce or reduce the corresponding interest and late fees. And if the bank does not write down your bad credit record, this period of time becomes the credit card grace period.

According to bank regulations, once the cardholder fails to repay the corresponding amount after the final repayment period, the cardholder needs to pay corresponding interest and late fees, and may be entered into a bad credit record by the bank. However, there are many non-subjective reasons that are beyond control during actual operation.

2. Consequences of non-repayment of credit card

Banks will charge late payment fees and interest for non-repayment of credit card. The late payment fee is calculated as 5% of the unpaid portion of the minimum repayment amount, with a minimum charge of RMB 10 yuan or 1 US dollar. At the same time, the bank will also charge 0.05% interest on the credit card bill every day.

If the cardholder fails to repay the minimum repayment amount before the repayment due date (inclusive) on the bill notice of the current month, the account will be collected by the card center collector on the day after the next bill date. Carry out telephone collection; if the customer has not paid off the minimum repayment amount within the specified time, the system will automatically issue a collection letter or the collector will issue a collection letter based on the account's telephone collection status and actual arrears.

If the cardholder is unable to repay on time due to unemployment or illness, before the final repayment deadline arrives, he can state his financial situation to the bank, state that he is not maliciously overdrafting, and apply for delayed repayment and Interest discounts.

When a credit card is overdue for three consecutive times or fails to repay for a total of six times, a bad record will be left in the People's Bank of China's credit reporting system. Therefore, if it is only overdue for one month, it will not be entered into the credit reporting system for the time being. System, in short, when using a credit card, you must repay it in time.

I would like to ask how many days the grace period is for Bank of Communications credit cards

The grace period for Bank of Communications credit cards is 3 days. If the cardholder forgets to repay on the repayment date, he can still repay within these 3 days. Note that the repayment must be received before the end of the repayment grace period, otherwise it will be considered overdue. Users can repay through the bank's online banking or mobile banking, and the payment can be received in real time.

The grace period of Bank of Communications' credit card is 3 days, so users can only defer repayment for 3 days at most. If the payment is not repaid for more than 3 days, it will be considered overdue.

After your credit card is overdue, Bank of Communications will calculate your interest and charge liquidated damages, and the interest will be compounded on a monthly basis.

For more information about how many days the grace period is for Bank of Communications credit cards, go to: View more content

How many days is the grace period for Bank of Communications credit cards

How many days is the grace period for Bank of Communications credit cards? It is considered overdue if it exceeds the repayment date by 3 days.

The overdue time regulations for Bank of Communications credit cards are as follows:

1. The credit card time-limited service can be overdue for 3 days.

After the credit card repayment date, cardholders can enjoy a 3-day repayment extension service. As long as the cardholder pays the minimum payment amount before midnight on the third day after the due payment date, it will not be considered overdue. In other words, as long as the credit card is overdue within 3 days of the repayment date, it is safe. If the credit card is overdue for more than 3 days, a credit report will be filed, which will affect your personal credit record.

2. Credit card overdue records will be reported once a month.

Banks will regularly report credit card usage records to the People's Bank of China every month, thus forming a credit record for cardholders. Currently, banks report personal credit data once a month. Therefore, if your credit card is overdue and exceeds the 3-day buffer time, you must call the bank in time to communicate and strive to report your personal credit data to the bank. Negotiate and resolve before credit record.

Extended information:

New credit card regulations: 3-day grace period for repayment, limited cancellation of full penalty interest.

The China Banking Association announced the revised "China Bank Card Industry Self-Discipline Convention", and the full penalty interest rate, which can easily cause tension between banks and credit card holders, will be canceled soon.

Full penalty interest, which can easily cause tension between banks and credit card holders, will be eliminated soon.

Specifically, the Banking Association requires member units to provide "time-tolerant services" for cardholders: providing cardholders with a repayment grace period service for a certain period, and the repayment grace period will be repaid from the expiration date. At least 3 days from the payment date; when the cardholder repays the loan within the repayment grace period, it shall be regarded as the cardholder repaying the loan on time.

“Three days are natural days, not working days. In other words, Saturdays, Sundays and holidays are also within the grace period.” A person from the credit card department of a listed bank said , there is actually no such concept abroad. Domestic banks launch "long-time service" mainly for the convenience of cardholders.

Bank of Communications credit card grace period

The grace period of Bank of Communications credit card is three days, and the cardholder needs to repay the outstanding balance within three days. As long as the balance is repaid within the grace period, it will not affect the cardholder's normal use of the credit card. If you are unable to repay the debt within the grace period, you can go to Bank of Communications to apply for installment repayment business.

Bank of Communications, like most banks, gives cardholders a three-day grace period, and cardholders need to pay back the outstanding balance within three days. If the arrears are not paid back or credit card installments are not processed, Bank of Communications will upload the cardholder's overdue record to the central bank's personal credit system and impose penalty interest on the cardholder.

If the cardholder fails to repay the credit card balance due to Bank of Communications, Bank of Communications will initiate two collections against the cardholder within three months. If the cardholder still does not repay the credit card balance after three months, the bank will sue the cardholder and rule against the cardholder.

After the cardholder loses the lawsuit, he will need to pay fees such as failure fees, penalty interest, and credit card debt. If the cardholder still does not repay the debt, the bank will apply for enforcement, and the public security organs will cooperate with the enforcement. Enforcement fees will be charged to cardholders.

If the cardholder's credit card debt is relatively large, the bank will directly transfer the case to the public security agency, which will punish the cardholder in accordance with the "Criminal Law".

How many days does Bank of Communications have a grace period?

Three days. Currently, the time-sensitive repayment service (repayment grace period) of Bank of Communications credit cards means that the cardholder repays through designated repayment channels three days before (inclusive) the final repayment date, and the repayment is repaid when it is due. If the repayment is credited through the designated repayment channel before (inclusive) the third day in the future, it will be deemed to be repaid on time. In other words, the grace period for Bank of Communications credit card repayment is 3 days. If the payment is not made in full 3 days after the payment due date, the credit card is considered overdue. For example, if your repayment date is the 25th of each month, and it is postponed for three days, that is, repayment within the three-day grace period from the 26th to the 28th, it can be counted as on-time repayment. Even if the 28th is a weekend, it will be counted as one day. In addition, the grace period deadline for Bank of Communications credit card repayment is 9 pm on the third day. Note that the repayment must be received before the end of the repayment grace period, otherwise it will be considered overdue.

Bank of Communications is one of China's major financial service providers. The group's business scope covers commercial banking, securities, trusts, financial leasing, fund management, insurance, offshore financial services, etc. Bank of Communications has 235 domestic branches, including 30 provincial branches, 7 directly affiliated branches, and 199 provincial branches. It has branches in 239 prefecture-level and above cities and 158 counties or county-level cities*** nationwide. 3,270 business outlets; it has 7 non-bank subsidiaries, including wholly-owned subsidiaries BoCom Leasing, BoCom Insurance, and BoCom Investment, and holding subsidiaries BoCom Fund, BoCom Guosen, BoCom Life, and BoCom International . In addition, Bank of Communications is also the largest shareholder of Changshu Rural Commercial Bank and the joint largest shareholder of the bank. It has strategically invested in Hainan Bank and controls 4 rural banks.

The common repayment methods of credit cards are as follows:

1. Direct deposit to the credit card from our bank’s ATM machine; 2. Bind the credit card and bank card to set up automatic repayment ; 3. ATM inter-bank transfer repayment; 4. Online banking transfer repayment or all inter-bank transfer repayment; 5. You can also transfer money through WeChat wallet or Alipay (inter-bank transfer is free of charge). Users can repay through the bank's online banking or mobile banking, and the payment can be received in real time

After the credit card is overdue, the Bank of Communications will calculate your interest and charge liquidated damages, and the interest will be compounded on a monthly basis. The bank will generally not call you on the day it is overdue, and no credit report will be filed for 6 days overdue.

If it is overdue, please note:

Pay off the debt in time and bear late fees and interest; call the credit card center to explain the situation; if you are overdue once, you will pay it back immediately, and your credit record will not be affected It will have any impact; it will have a certain impact on the application for a quota increase and will slightly reduce the amount of the quota increase.

Generally speaking, many banks have grace period services, except for industrial and commercial banks. Some banks' repayments are based on the time of entry into the account, and some are based on the time of transaction. It is recommended to repay the loan as early as possible, close to the repayment date or within the grace period, which may easily cause the risk control of the card to be unfavorable for later withdrawals.

This concludes the introduction about the impact of the Bank of Communications credit card grace period and the minimum repayment during the Bank of Communications credit card grace period. Did you find the information you need?