No. After 5 years of overdue payment, the outstanding balance of the China Merchants Credit Card cannot be automatically settled by simply repaying the principal. The following are detailed instructions:

1. The principal repayment is not enough to settle the debt: after 5 years of overdue, the debt accumulated on the China Merchants Credit Card may include principal, interest, late payment fees and other fees. . Repaying the principal alone is not enough to fully repay the entire amount owed.

2. Overdue payment will affect credit record: Long-term overdue payment will have a serious negative impact on an individual's credit record. Even if the principal is paid off, overdue records will still exist, which will cause difficulties in applying for loans, credit cards and other financial services in the future.

3. Ways to solve the overdue problem: If the China Merchants Credit Card is overdue for 5 years, it is recommended that you contact the bank as soon as possible to understand the specific arrears and seek a reasonable solution. Banks may offer repayment plans, interest exemptions or late fees to help you resolve overdue issues.

Summary: After 5 years of overdue payment, just repaying the principal cannot clear the outstanding balance of the China Merchants Credit Card. Overdue records will have a long-term negative impact on the credit record. You should contact your bank as early as possible to find a reasonable solution.