ICBC credit card overdue reduction and exemption is called principal repayment first, which means that when paying off a credit card debt, the bank first requires the principal part to be repaid first, and then considers reduction or exemption of interest and late fees. There are several reasons for this approach:

First of all, repaying the principal is to ensure that the bank's claims are repaid in a timely manner. The principal part is the direct source of credit card consumption. If the principal is repaid first, the bank's losses and risks can be effectively reduced.

Secondly, principal repayment can remind cardholders to take responsibility for their credit card debt. By repaying the principal first, banks can better urge cardholders to take responsibility for overdue credit card repayments and enhance their awareness and ability to repay credit cards.

Finally, repaying the principal helps reduce interest and late fees after overdue payments. Since the principal is the largest part of the overdue debt, repaying the principal first can effectively reduce subsequent interest and late fees and reduce the repayment burden of the cardholder.

In short, the overdue credit card repayment or principal repayment policy of ICBC is mainly for the purpose of protecting the bank's creditor's rights, urging cardholders to be responsible for repayment and reducing fees. For cardholders, timely return of principal is a necessary condition for complying with the credit card agreement and maintaining a good credit record.

Extended information:

ICBC is one of the largest commercial banks in China and has extensive credit card business. When a credit card is overdue, the bank will take corresponding relief measures based on the specific circumstances, including paying off the principal first. Cardholders should contact the bank promptly after overdue payment to understand the specific repayment requirements and exemption policies to avoid the adverse impact of overdue payment on personal credit records.

In addition, ICBC credit card will also consider factors such as repayment willingness and ability when it comes to reductions and exemptions, and determine the degree of reductions and exemptions after a comprehensive evaluation. Therefore, it is best for cardholders to negotiate with the bank before repaying, explain their repayment difficulties and circumstances, and strive for the bank's understanding and support.

In addition, late repayment will cause damage to your credit record and affect your personal credit score and credit limit. Therefore, cardholders should maintain good repayment habits, avoid late repayments, and ensure that personal credit is well maintained.

The above is the answer to the ICBC credit card overdue exemption and principal repayment first. I hope it will be helpful to you. If you have any other questions, please feel free to ask.