1. Credit record damage: overdue repayment will lead to personal credit record damage. Banks will submit overdue records to the central bank's credit information system, which will affect personal credit rating and have a negative impact on future loans and credit cards.
2. Penalty interest and overdue fine: the bank will collect overdue penalty interest and overdue fine according to the contract. Penalty interest refers to the amount of overdue repayment calculated according to a certain proportion, and late payment refers to the daily fee charged after overdue repayment. These extra costs will increase the repayment burden.
3. Telephone collection and legal proceedings: the bank will collect the repayment by telephone collection and SMS reminder. If the cardholder can't be contacted for a long time or the cardholder refuses to repay, the bank can take further measures, including transferring the overdue account to a special legal department and recovering the arrears through legal means.
Summary: Failure to repay the credit card of China Merchants Bank for three months will have a serious impact on personal credit records, resulting in penalty interest and late fees, as well as telephone collection and legal proceedings.
Extended data:
According to the Interim Measures for the Administration of Personal Credit Information Reports in Banking Industry issued by CBRC, banks are obliged to record and submit personal credit information. The record of overdue repayment will be recorded in the personal credit report, which will have an impact on the personal credit rating. In addition, China's laws also stipulate the collection methods and legal procedures for overdue credit card accounts by banks and other financial institutions.
According to the supplementary information, it is assumed that the overdue interest rate stipulated in the credit card contract of China Merchants Bank is 0.05% per day, and the late payment fee is 2‰ of the daily overdue repayment amount. Telephone collection may include making regular phone calls and sending repayment reminder messages. Please consult the relevant professional institutions for the specific procedures and consequences of legal proceedings.
The above are the consequences and related explanations of China Merchants Bank's three-month overdue credit card repayment. I hope it helps you.