1. Contact the issuing bank in time: Once the credit card is overdue, you should contact the issuing bank in time to explain your predicament and express your willingness to cooperate. You can contact the bank in writing or by telephone and ask the bank to negotiate to reduce the liquidated damages.
2. Explain the reason and provide proof: when negotiating, explain the overdue reason to the bank and provide corresponding proof materials, such as medical certificate, work certificate and income certificate. These supporting documents can help banks better understand your situation and increase the possibility of reducing liquidated damages.
3. Reasonable repayment plan: When negotiating with the bank to reduce the liquidated damages, a reasonable repayment plan can be proposed. According to their own economic situation and ability, formulate a clear and feasible repayment plan, show the willingness to repay to the bank, and ask the bank to reduce part of the liquidated damages or postpone the repayment date.
To sum up, the key to negotiate to reduce the overdue penalty for credit cards is to actively cooperate with banks, provide sufficient proof materials and reasonable repayment plans. In the communication with the bank, express your sincerity and repayment desire, I believe it will be understood and supported by the bank.
Extended data:
Overdue credit card refers to the situation that the cardholder fails to repay the credit card debt or the minimum repayment amount on time. Overdue will lead to the accumulation of interest and the generation of liquidated damages, increasing the credit burden. Therefore, once the credit card is overdue, it is worth trying to communicate with the bank in time and put forward the requirement of reducing the penalty. However, the policies and regulations of each bank may be different, so it is best to read the relevant terms and agreements of credit cards carefully before negotiation to understand the specific requirements and processes of banks.
At the same time, we should also realize that the reduction of liquidated damages may not be successful, and whether the bank agrees to reduce some liquidated damages depends on the actual situation. Therefore, it is the best way to repay the credit card arrears in advance within the cardholder's own ability and avoid overdue.
The above is the answer about how to negotiate to reduce the overdue penalty of credit card, I hope it will help you!