The credit card limit has been paid off, why do you still need to pay it back?

If the customer pays off all the credit card bills and does not use the credit card in the future, there will generally not be any money left to pay back. . If there is still more money to repay after paying off the credit card, it is likely that the annual fee will be deducted later, and the customer will naturally need to pay back the withheld annual fee.

In addition, it is also possible that the customer did not pay off all the credit card bills. Specifically, the customer failed to repay the loan in full before, resulting in no longer enjoying the interest-free period, so recurring interest arose. However, the customer only repaid the principal, and the interest has not yet been repaid.

If it is overdue, it is useless to just repay the principal. If the interest is not repaid, it will incur more expenses to be repaid if it is delayed.

Credit card consumption is a non-cash transaction payment method. There is no need to pay cash when consumption, and repayment will be made on the billing date (BillingDate).

Credit cards are divided into credit cards and quasi-credit cards. A credit card refers to a credit card in which the cardholder has a certain credit limit and can consume within the credit limit and then repay;

A quasi-credit card refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve as required. When the reserve account balance is insufficient for payment, the card can be overdrawn within the specified credit limit. The so-called credit card generally refers to a credit card only.

Credit card repayment methods

The methods within the card issuing bank include: card issuing bank counter, ATM, online banking, automatic transfer, telephone banking repayment, etc. After repayment, the credit card limit will be restored immediately, and the payment will generally be credited to the account after the system processes it on the same day.

WeiBank POS mobile phone and WeiBank Tong POS mobile phone are a mobile financial system personal payment terminals that can be used to directly repay by swiping cards, as well as perform transfers and other services. Instant payment!

Transfer/remittance repayment is mainly divided into two methods: inter-bank inter-bank in the same city and inter-bank inter-bank in different places. Regardless of the method of transfer or remittance, the remittance bank will charge a certain fee. At the same time, the time it takes for the money to arrive and the convenience of repayment are not as good as intra-peer repayment, online repayment, convenience store repayment and other methods.

The more common domestic online platforms for online repayment include: UnionPay Online, Kuaiqian, Shengfutong, Alipay, Tenpay, etc. Depending on the platform and bank you choose, the charging standards and specific payment arrival time will be different.

This method of convenience store repayment is mainly completed through the "Lakala" smart payment terminal installed in the convenience store. Generally, the payment time takes 2 to 3 working days. At the same time, using this There is no handling fee for repayment.

Counter repayment counter refers to bank cards issued by various networked financial institutions, which can be used to conduct RMB current deposit and withdrawal transactions through the counters of other bank branches registered in the UnionPay exchange center host system.

The "Xinpaytong" smart credit card phone for repayment is an innovative electronic product independently developed by China UnionPay, certified by the Bank Card Testing Center, and supported by financial services provided by China UnionPay's inter-bank information exchange network.

Use "Repayment Tong" to make repayments, and the fees are generally charged according to the fee standards for intra-city inter-bank transfers and long-distance inter-bank remittances stipulated by the local People's Bank of China.

Other methods In addition to the methods mentioned above, card issuers have also opened their own unique repayment methods in order to facilitate cardholders' repayment.

Why do you have to repay the credit card if it is not used?

The reason why you have to repay the credit card if it is not used is that after the credit card is activated, the bank will charge a certain annual fee, so there is Arrears records. For most credit cards, after activation, you have to make at least five purchases a year to get the annual fee waived. Of course, if the credit card has not been activated, there is no annual fee, and there is no need to repay the card if it is not used. Starting from January 1, 2021, credit card overdraft interest rates will be determined independently by card issuers and cardholders through independent negotiation, and the upper and lower limit management of credit card overdraft interest rates will be cancelled. 0.7 times).

1. A credit card, also called a credit card, is a credit certificate issued by a commercial bank or credit card company to consumers with qualified credit. It takes the form of a card with the name of the issuing bank, validity period, number, cardholder name and other contents printed on the front, and a magnetic stripe and signature strip on the back. Consumers holding credit cards can shop or consume at specially appointed commercial service departments, and then the bank will make settlements with merchants and cardholders. Cardholders can overdraft within the prescribed limit.

2. Credit cards stipulated in the relevant laws of our country ("Interpretations of the Standing Committee of the National People's Congress on Relevant Credit Card Regulations") refer to credit cards issued by commercial banks or other financial institutions with the functions of consumption payment, credit loans, An electronic payment card with full or partial functions such as transfer settlement, cash deposit and withdrawal, etc. On December 1, 2017, the "English Translation and Writing Standards in the Public Service Field" was officially implemented, stipulating that the standard English name of credit cards is CreditCard.

3. Credit card consumption is a non-cash transaction payment method. There is no need to pay cash when consumption, and repayment will be made on the bill date.

Credit cards are divided into credit cards and quasi-credit cards. Credit cards refer to credit cards in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; quasi-credit card It refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund as required. When the reserve account balance is insufficient to pay, the cardholder can overdraw within the specified credit limit. The so-called credit card generally refers to a credit card only.

Why do you have to repay the credit card if you haven’t spent it?

The reason why you have to repay the credit card if you don’t use it is that after the credit card is activated, the bank will charge a certain annual fee, so there is a debt on the credit card. Payment records. For most credit cards, after activation, you have to make at least five purchases a year to get the annual fee waived. Of course, if the credit card has not been activated, there is no annual fee, and there is no need to repay the card if it is not used.

1. How to calculate the three-day grace period for credit cards?

The three-day grace period of a credit card refers to the three days after the repayment date. For example, if the repayment date is the 10th, the grace period is the 11th-13th. However, the repayment deadlines vary from bank to bank. The final repayment time of some banks is 23:59 on the third day of the grace period, while the final repayment time of some banks ranges from 17:00 to 21:00 on the third day of the grace period. If there are no special circumstances, it is best to repay on the repayment date. Even if you accidentally miss the repayment date, try to pay off the debt within the grace period.

2. How much will you be jailed for if you are overdue? That is, the starting penalty for credit card debt is 50,000 yuan, and you will not be jailed if you owe less than 50,000 yuan; second, the legal basis: Article 196 of the "Criminal Law": Credit Card The crime includes one of the following circumstances: conducting credit card activities with a relatively large amount. If the amount is huge or there are other serious circumstances, the sentence shall be not less than five years but not more than ten years, and a fine of not less than 50,000 yuan but not more than 500,000 yuan.

If the amount is particularly huge or there are other particularly serious circumstances, the penalty shall be not less than 10 years or more, and a fine of not less than 50,000 yuan but not more than 500,000 yuan, or property confiscated: (1) A counterfeit credit card is used. (2) Using an expired credit card. (3) Using someone else’s credit card fraudulently. (4) It is a malicious overdraft. If a cardholder overdrafts beyond the prescribed limit or within the prescribed period for the purpose of illegal possession, and fails to return the card for more than three months after being called upon twice by the issuing bank, it shall be deemed a malicious overdraft as stipulated in Article 196 of the Criminal Law

That’s it for the introduction to why credit cards require repayment.