If you are unable to repay a credit card debt of RMB 250,000, you will be sentenced to fixed-term imprisonment of not less than five years but not more than ten years.

Credit cards, also called credit cards, are credit certificates issued by commercial banks or credit card companies to consumers with qualified credit. It takes the form of a card with the name of the issuing bank, validity period, number, cardholder name and other contents printed on the front, and a magnetic stripe and signature strip on the back. Consumers holding credit cards can shop or consume at specially appointed commercial service departments, and then the bank will make settlements with merchants and cardholders. Cardholders can overdraft within the prescribed limit.

Credit cards are divided into credit cards and quasi-credit cards. Credit cards refer to credit cards in which the cardholder has a certain credit limit and can consume within the credit limit and then repay. Quasi-credit cards It refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund as required. When the reserve account balance is insufficient to pay, the cardholder can overdraw within the specified credit limit. The so-called credit card generally refers to a credit card only.

Mainly based on the following considerations:

1. Implementing step-by-step and gradual reforms will help card issuers further accumulate pricing data and experience during the transition period, and guide them to improve credit card interest rates Pricing mechanism;

2. The credit card risk control and pricing capabilities of each card issuer are uneven. The guidance of upper and lower interest rate limits will help prevent individual card issuers from blindly cutting prices and engaging in price wars, leading to unfair competition and High-risk customers borrow excessively, thereby increasing credit risks and causing partial chaos in the market;

3. When the information disclosure mechanism needs to be strengthened, setting an upper limit on overdraft interest rates will help prevent individual card issuers from unreasonably charging too high interest to protect the legitimate rights and interests of cardholders.

Legal Basis

"Criminal Law of the People's Republic of China"

Article 196 Under any of the following circumstances, credit card fraud activities are carried out , where the amount is relatively large, the sentence is to be not less than five years in prison or criminal detention, and a fine of not less than 20,000 yuan but not more than 200,000 yuan; A fine of not less than 10,000 yuan but not more than 500,000 yuan; if the amount is particularly huge or there are other particularly serious circumstances, the sentence shall be not less than 10 years in prison or life imprisonment, and a fine of not less than 50,000 yuan but not more than 500,000 yuan, or property confiscation:

(1) Using a forged credit card, or using a credit card fraudulently obtained with false identity certificates;

(2) Using an expired credit card;

(3) ) Pretending to use other people’s credit cards;

(4) Malicious overdraft.

The term "malicious overdraft" as mentioned in the preceding paragraph refers to the cardholder's behavior of overdrafting beyond the prescribed limit or within the prescribed period for the purpose of illegal possession and failing to return the card after being called upon by the card-issuing bank.