Failure to repay the minimum repayment amount of ICBC credit card for 3 months overdue will have the following consequences:

1. Damage to credit record: late repayment will be recorded in personal credit report report, and negatively impact your credit score. This will cause a personal credit rating to decline, and you may encounter difficulties when applying for loans, credit cards and other financial services in the future.

2. Penalties and late payment fees: Banks will charge late payment fees as liquidated damages on the overdue minimum credit card payment amount. Late fees usually depend on how long the payment is past due and the amount owed. In addition, the bank may also require the repayer to pay a certain amount of penalty to deal with overdue repayment.

3. Collection action: The bank will initiate a collection process and remind the repayer to repay the debt as soon as possible through phone calls, text messages, letters, etc. Within a certain period of time, the bank may conduct collections multiple times and take more severe measures, such as hiring a collection company or taking legal measures to collect.

To sum up, failure to repay the minimum repayment amount of an ICBC credit card for three months overdue will have serious financial and credit impacts on individuals. Therefore, it is recommended that repayers pay off their debts promptly to avoid further adverse consequences.

Supplementary information: According to relevant Chinese regulations, banks have the right to take legal measures to recover repayments from overdue repayers. Among them, the most common is to sue overdue debtors for repayment. The court will make a judgment based on the facts of the case and relevant legal provisions, and may freeze or seal the property of the overdue repayer. In addition, the bank also has the right to report the information of overdue repayers to the credit reporting agency, so that the overdue records will be retained in the credit reporting report for a period of time, which will have a lasting impact on personal credit evaluation.

Therefore, in order to protect one’s credit record and financial stability, it is strongly recommended to repay the overdue minimum payment amount in a timely manner to avoid falling into long-term debt troubles and avoid legal risks.