These are some activities of bank credit cards. Use bank funds to spend in advance and enjoy the interest-free period. This is a way to manage your finances. A credit card is not a savings card, and interest will not be charged on deposits in the credit card. Credit cards can be used as payment tools and can be consumed directly through the card-swiping POS machines or online payment platforms installed by merchants. Banks will also provide various forms of points, discounts, installments, draws, promotions and other activities. Credit cards are also the main international payment tool.

The impact of liquidated penalty write-off on credit report:

Credit card default penalty, also known as credit card late payment fee, refers to the cardholder’s actual repayment amount on the due date of the credit card. In the case of minimum repayment, late payment fees will be charged for the unpaid portion of the minimum repayment. Credit card default penalties will only be eliminated after the user pays off all outstanding balances. Whether credit card default penalties will affect credit information is related to the cardholder's overdue repayment time. If the cardholder pays off his personal debt in time before the bank reports it to the central bank (after an overdue repayment occurs, the cardholder must repay in full), and actively contacts the bank to explain that the overdue payment is not malicious, the credit information will not be affected.

What are the credit card default penalties of major banks:

Starting from January 1, 2017, most banks will abolish credit card late fees and add credit card default penalties. It stipulates that if the cardholder fails to repay the minimum payment amount of the current credit card on the due date of the credit card, a certain credit card penalty will be charged.

Because the central bank stipulates that each bank can agree on the charging standards for credit card liquidated damages, so it has great autonomy. However, the default penalty for credit cards will be charged in one lump sum instead of compound interest on a monthly basis.

The credit card default penalty standards are as follows:

1. 5 of the unpaid portion of the minimum repayment amount of China Construction Bank, with a minimum of 5 yuan or 1 US dollar or 1 euro, in the corresponding currency The minimum payments are the same.

2. 5 of the unpaid minimum minimum repayment amount of Agricultural Bank of China: minimum 1 yuan/1 US dollar/1 euro/1 Australian dollar/1 pound/10 yen.

3. 5 of the unpaid minimum repayment amount of Industrial and Commercial Bank of China is limited to a maximum of 500 yuan or 500 Hong Kong dollars or 500 Macau patacas or 100 US dollars or 100 euros per installment.

4. The minimum repayment amount of China Merchants Bank is 5 yuan or 1 USD.

5. The minimum charge for 5 of the unpaid portion of the minimum repayment amount of CITIC Bank is 20 yuan or 2 US dollars or 20 Hong Kong dollars or 2 euros.

6. The upper limit of 5% of the unpaid portion of the minimum repayment amount of Shanghai Pudong Development Bank shall not exceed the overdraft principal.

7. Hua Xia Bank’s minimum repayment amount is 5, up to a maximum of 2,000 yuan or 250 US dollars.