If your credit card is overdue, should the bank charge the minimum repayment of the credit card and the overdue interest and liquidated damages? Need to return it? I personally think that this issue should be decided based on the current legal regulations. National laws have certain requirements for the related expenses incurred by this type of business.

The nature of minimum repayment and overdue payment are different, and banks handle them differently

1. Minimum repayment is not a breach of contract. Banks have minimum repayment contracts. Choose the lowest repayment contract. The payment defaults to the interest on the contract, and the interest on the unpaid portion is 0.5% per day, and is calculated from the date the card is swiped. This is basically non-negotiable.

2. Overdue payment is a breach of contract, and liquidated damages and interest will be charged for breach of contract. If the payment is accidentally overdue within one month, the liquidated damages and interest can be recovered through negotiation with the bank, and most banks will agree to this.

You must pay the interest and liquidated damages incurred

First of all, the penalty interest and liquidated damages currently charged by the bank are very detailed in the contract, and things should be done in accordance with the contract. Secondly, the penalty interest and liquidated damages charged by the bank are within the scope allowed by law. As long as the total of these penalty interest and liquidated damages does not exceed 24%, it is protected by law.

Finally, the bank's money has a cost. The bank's money is also absorbed by the user's deposits and then converted into loans or credit card limits. Once everyone is overdue or pays the minimum repayment, this money will mean that If you continue to occupy these funds, you will have to pay corresponding fund occupation fees. These fund occupation fees are penalty interest and liquidated damages. So on the whole, it is reasonable and legal for banks to charge credit card penalty interest and liquidated damages. It is untenable for you to ask the bank to return this part of the money. Even if you file a lawsuit with the bank, the court will not support you. This approach.

Penalty interest is divided into two types: full penalty interest and unpaid penalty interest

1. Full penalty interest simply means that you did not meet the deadline on the last repayment date. If you repay within 10 days, then all the consumption amounts in your current bill will be charged interest at the rate of RMB 50,000 every day from the second day of the card payment until the bill is paid off. This algorithm is still very scary. For example, let’s say A person owes 20,000 yuan on a bill, but he has repaid 15,000 yuan, leaving a shortfall of 5,000 yuan. Then the penalty interest will still be calculated based on 20,000, and the interest-free period will be invalidated, and everything will be calculated based on 50,000 per day. This algorithm must be calculated for each transaction made by swiping the card.

2. The unpaid penalty interest is relatively reasonable. It only applies to the unpaid portion of the current period, and the penalty interest is calculated at RMB 50,000 per day until the bill is paid off. However, according to current laws and regulations, if If the total of bank interest, liquidated damages and handling fees exceeds 24% of the annual interest rate, the court will not support it.

Can these liquidated damages be refunded?

When formulating the rules, the credit card center fully considered the relevant situations that may occur after the credit card is overdue, and also gave certain consideration to the fees charged. , all rates are set in compliance with legal provisions, and banks will not violate legal red lines in order to charge more fees. Therefore, when you are overdue and pay the minimum repayment amount, the relevant fees incurred must be paid to the bank, and the bank will not refund the relevant fees to you. Even if you go to court to file a lawsuit, the court will not support your claim.

In general, for friends who forget the repayment date, you should know more about the bank tolerance regulations of the card you hold. Generally, it is normal for one to three days. There is no penalty for these days. Interest and liquidated damages will not have an impact on your credit report. As a profit-making institution, banks are all based on interests. We ourselves must manage our own credit cards.

If you don’t want to be overdue, keep in mind the billing date, repayment date, and repayment amount of each card, and remind yourself to repay in time, otherwise you will have to pay high penalty interest and liquidated damages. For those who have already Friends who have paid, please carefully calculate whether the bank has overcharged you, and protect your rights and interests when necessary. You must clearly understand your repayment ability, don’t use it if necessary, and remember to use the card rationally.