Although credit cards have an interest-free period, interest will accrue in certain circumstances, such as overdue payments, cash withdrawals, incomplete repayments, etc. Many people use credit cards to generate a lot of interest and do not want to pay back the principal. So, what will happen if a credit card only repays the principal and no interest? It is recommended that you think through these consequences before making a decision.

What will happen if a credit card only repays the principal and no interest? 1. The debt will never be repaid. The sequence of credit card repayments and offsets is not to offset the principal first and then offset various interest charges. It is generally annual fee - interest - cash withdrawal fee - cash withdrawal principal - amount of card consumption. Therefore, after the credit card accrues interest and repays it, the cardholder pays back the same amount as the principal to the credit card. In fact, the interest is offset first and the principal is not paid off in full. If the principal is not repaid, interest will continue to accrue. If it is overdue, penalty interest will be charged and the interest will compound. The longer the time is, the more difficult it will be to repay the debt. 2. Collections will not stop. Overdue credit cards will be collected by various means. If the debtor wants to pay off the debt, he must pay back the principal and various interest fees incurred. Otherwise, he will only pay back the principal and not the other way around. If you pay interest, you will still owe the bank money. After all, interest is the income that the bank deserves. It will not voluntarily give up this part of income when the cardholder pays off the principal. For this reason, collection will continue.

So, how to solve it? If cardholders want to completely resolve their credit card debt, they should see if they can borrow money from relatives, friends, and family members to repay the loan without overdue payment, and repay all the principal and interest. If it is overdue and lasts more than 3 months, a lot of interest will be incurred, and the most you can do is repay the principal. You can try to apply to the bank for negotiated repayment to see if the interest can be reduced or exempted. If the bank sees that the cardholder has good intentions and provides true information that proves that the overdue payment was due to some force majeure, the bank may be able to agree to negotiate an interest reduction or exemption, so that the debtor can repay the principal by paying off the principal. All the debts are owed. Except for the credit report, which can only be recovered after 5 years of repayment, there are no other problems. The above is the relevant introduction to "What will happen if you only repay the principal and no interest on a credit card?" I hope it will be helpful to everyone.