The new rules for overdue credit cards in 2021 are as follows: 1. Stop illegal collection. First of all, the relevant regulatory authorities require that all illegal collection activities be stopped when credit cards are overdue. If there is any violation of law, evidence should be preserved in a timely manner and a lawsuit should be filed in court to demand compensation. 2. Liquidated damages replace late payment fees. It’s no secret that late fees on credit cards are high. Late fees will be eliminated in 2021. If your credit card is overdue, you only need to pay a certain penalty. The charging standard is 5% lower than the unpaid portion of the repayment, eliminating compound interest. 3. Sentencing standards have been raised. More importantly, the sentencing standards for credit cards have become higher. If the overdue payment is made maliciously, the bank can sue, which constitutes fraud. The sentencing standard has also been raised from the previous 10,000 to 50,000. Then, for example, the minimum repayment amount is lower than 10%, or even lower. The interest-free installment can be up to 60 months, while the previous interest-free installment was as low as 20 to 50 days. After the new regulations are introduced, it will take up to 5 years to pay off the debt. The specific situation is that the cardholder needs to negotiate with the bank and so on.