Legal analysis:

Overdue repayment refers to the situation where the final repayment period stipulated by the bank is exceeded and the consumed amount is not deposited into the designated account in full and in time. Overdue payment will accrue interest and affect your credit report. In serious cases, you may be sued by the court or imprisoned. Overdue interest on credit cards is calculated based on a daily interest rate of 0.05, and there is also a late payment fee. The late payment fee on a credit card is generally 5% of the unpaid portion of the minimum repayment amount. Late payment fee = (minimum payment amount - amount paid as of the due payment date) × 5. Credit card overdue interest: The daily interest is calculated at 0.05, starting from the date of consumption recording. In addition, if the credit card is overdue, you will also need to pay a late payment fee, which is charged at 5% of the unpaid portion of the minimum repayment amount, calculated on a monthly basis. At present, the interest rate for overdue credit card repayments in all banks is the same, which is 0.5% per day, and compound interest is calculated on a monthly basis. It is important to note that the principal for interest calculation is the total consumption amount of the month, and the interest accrual time is: interest accrues from the day of consumption, not based on the number of days overdue as many cardholders imagine. In addition, because the cardholder does not repay on time, the bank will also charge late payment fees. The proportion of late payment fees is higher: 5% of the total amount, and it is charged once a month. It can be seen that this is a very important point in the process of using credit cards, because overdue interest will accrue. Of course, each bank also has relevant regulations, but as long as everyone repays on time after using it, there will be no overdue situations.

Legal basis:

Article 585 of the "People's Republic of China and Civil Code" The parties may agree that when one party breaches the contract, it shall pay a certain amount to the other party based on the circumstances of the breach. Liquidated damages can also be agreed on the calculation method for the amount of compensation for losses due to breach of contract.

If the agreed liquidated damages are lower than the losses caused, the People's Court or the arbitration institution may increase the amount according to the request of the parties; if the agreed liquidated damages are excessively higher than the losses caused, the People's Court or the arbitration institution may increase the amount according to the request of the parties. The party's request shall be appropriately reduced.

If the parties agree on liquidated damages for delayed performance, the defaulting party shall also perform its debts after paying the liquidated damages.

Derived questions:

What will happen if the credit card is overdue?

Generally speaking, overdue credit card repayment will have the following effects depending on different circumstances: 1. Within one month of being overdue, it will be counted as overdue once. As long as you are overdue once, even once, it is difficult to increase the limit; 2. If you are overdue 3 times in a row or 6 times in total, you will have a bad credit record and you will need to borrow money in the future. It will be difficult to apply for a credit card; 3. If the credit card is overdue for a certain amount and time, the bank will freeze the credit card.