Overdue interest on credit cards can be waived.

Circumstances that can be reduced or exempted include:

1. If a non-malicious credit card is overdue due to unemployment, serious illness, etc., you can go to the bank to explain the situation and request a reduction or exemption of overdue penalty;

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2. You can apply for reduction or exemption of overdue credit card penalties due to unknown fees or charges not explained by the bank;

3. The credit card repayment date has been negotiated with the bank to postpone the repayment The overdue liquidated damages caused by this plan can be reduced by the bank.

Interest is the fee for using currency within a certain period of time. It refers to the remuneration that currency holders (creditors) receive from borrowers (debtors) for lending currency or currency capital. Including interest on deposits, loans and various bonds. Under capitalism, the source of interest is the surplus value created by wage workers.

How long does it take for your credit card to be overdue?

1. More than 3 months; if there are 6 or more overdue behaviors in 3 months, the bank will charge you If it is set as a credit blacklist, and this list will be uploaded directly to the central bank center, then you will not be able to apply for credit services in the next five years, which will actually have a great impact on you.

2. Overdue for three consecutive times; if the credit card is overdue three times in a row, the bank will characterize it as a malicious overdue credit card. Once it is determined as a malicious overdue credit card, the consequences will be more severe than the consequences of an overdue credit card. serious. Banks will also initiate legal measures to protect their own rights and interests in accordance with the law, and the scope, breadth, and depth of the negative impact will be unimaginable.

Legal basis:

"Provisions of the Supreme People's Court on Several Issues Concerning the Application of Law in the Trial of Private Lending Cases"

Article 26

The interest rate agreed upon by both parties does not exceed the annual interest rate 24, and the lender requests the borrower to pay interest according to the agreed interest rate, the people's court shall support it. If the interest rate agreed upon by both parties exceeds the annual interest rate of 36, the excess interest agreement is invalid. If the borrower requests the lender to return the interest that has been paid in excess of 36% of the annual interest rate, the People's Court shall support the request. "

Article 678 of the "People's Republic of China and Civil Code" The borrower may apply to the lender for an extension before the expiration of the repayment period; if the lender agrees, the extension can be extended.