A credit card is considered overdue if it is 5 minutes overdue. If the issuing bank of the credit card does not provide a grace period for repayment, then as long as the customer fails to repay the payment on time after 24:00 on the repayment date, it will become overdue, even if it is only a few hours or more than ten minutes overdue. no. And if the card-issuing bank provides a repayment grace period, as long as the payment is made on time within the repayment grace period, it will be regarded as normal repayment and will not be counted as overdue.

The impact of overdue credit cards

Overdue credit cards will affect credit reporting. This product is mainly aimed at credit reporting. In addition to banks, there are also many consumer finance and licensed small loans. The company is connected to the central bank's credit report, so when applying for this type of product, not only will the credit report be checked, but also the credit report will be reported if it is overdue.

There will be penalty interest for overdue credit cards. Basically, all credit products will calculate penalty interest once it is overdue on the first day. The longer the overdue period, the greater the penalty interest.

Overdue credit cards will be collected, and banks and financial institutions will also collect them. Most of them are by phone. Although it is not as violent as private loans, it will have a certain impact on life. If it is overdue, If the amount is too large, you may be sued. As long as the evidence is solid, the court will freeze the assets in your name and sell them to repay the debt, and you may even be included in the "blacklist of dishonest persons subject to execution."