Overdue payment not only has a late payment penalty of 5% for the minimum unpaid portion (minimum 10 yuan), but also a penalty interest on the full amount of the bill (a daily interest rate of 0.05%, the interest will be calculated starting from the day of consumption, and the interest will be recovered on a monthly basis until the principal and interest are paid) until it is paid off), it will also produce a bad credit record in the Credit Reference Center of the People's Bank of China, which will affect your application for credit cards and bank loans within 2 years.

If you are overdue for more than three months or fail to repay more than two bank reminders, the bank will freeze your card and list you as a prohibited customer (blacklist), and may also sue you. Credit card fraud and malicious overdrafts are subject to court enforcement. If you refuse to repay after being sued and the amount you owe exceeds RMB 10,000, the court will impose a sentence based on Article 196 of the Criminal Law for the crime of credit card fraud!

Article 196 of the Criminal Law stipulates that under any of the following circumstances, whoever commits credit card fraud and the amount is relatively large shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and shall also be fined 20,000 yuan. A fine of not less than 50,000 yuan but not more than 200,000 yuan; if the amount is huge or there are other serious circumstances, the sentence shall be not less than five years but not more than 10 years in prison, and a fine of not less than 50,000 yuan but not more than 500,000 yuan; if the amount is special If the crime is huge or there are other particularly serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than ten years or life imprisonment, and shall also be fined not less than 50,000 yuan but not more than 500,000 yuan, or his property shall be confiscated:

( 1) Using a forged credit card, or using a credit card fraudulently obtained with false identification;

(2) Using an expired credit card;

(3) Pretending to use another person’s credit card ;

(4) Malicious overdraft.

A malicious overdraft refers to the cardholder’s overdraft exceeding the prescribed limit or prescribed period for the purpose of illegal possession, and the card-issuing bank still refuses to return the money after being called upon by the card-issuing bank