I will not apply for a credit card if I am not sure whether I have the ability to pay off my credit card debt. Because the inability to repay the credit card will have bad consequences.

1. Penalty interest: After the user uses a credit card to overdraft and fails to repay the debt after exceeding the credit card grace period provided by the bank, the user is deemed to be overdue. Once overdue occurs, the bank will charge overdue interest to the credit card user. Cardholders will no longer enjoy the bank's interest-free treatment for all expenses incurred last month. Overdue interest will be charged at a daily interest rate of 0.05, and compound interest will be calculated on a monthly basis. The longer it is, the higher the late fee will be.

2. Impact on personal credit report: Once the credit card is overdue, the bank will upload the user's overdue record to the central bank's credit report system. If the personal credit report has overdue bad records, for later bank loans, apply for a credit card All will have a certain impact.

3. Collection by the bank: After the credit card is overdue, the bank will collect the payment through text messages and phone calls from the user. Various collections will affect the normal life of the overdue credit card user. If a credit card user is overdue for more than 3 months, the bank can also sue the cardholder.

4. Criminal liability for malicious overdraft: According to relevant laws and regulations, if a credit card user is overdue for more than 3 months and the overdue amount reaches 50,000 yuan, the bank can prosecute the credit card user for malicious overdraft. Once the court determines that the cardholder's malicious overdraft is true, he may bear criminal liability for overdue credit cards.