No. If the credit card is not repaid, that is, it cannot be repaid on time, you will bear high penalty interest. After a credit card defaults, the penalty interest fees usually involved are recurring interest fees and late payment fees. Revolving credit is essentially a small, unsecured loan that accrues interest on a daily basis. If the full amount is not repaid on the final payment date, revolving credit interest will accrue on the next statement, and it will start from the date the consumption is recorded. Calculate interest.
Although the biggest feature of a credit card is its overdraft function, it actually constitutes a loan relationship between the customer and the bank. Failure to repay when due may not only cause legal disputes, but also bear high penalties. The most important thing is that it will form a bad credit record, which will have a negative impact on your future work and life.
Extended information:
Credit card repayment methods:
1. In-bank repayment: This repayment method mainly includes: card issuing bank counter, ATM, online Bank, automatic transfer, telephone banking repayment, etc. After repayment, the credit card limit will be restored immediately, and the payment will generally be credited to the account after the system processes it on the same day.
2. Mobile phone repayment: The mobile phone is a personal payment terminal of the mobile financial system. It can be used to directly swipe the card for repayment, and can also be used for transfers and other services, with instant payment.
3. Convenience store repayment: Convenience store repayment is mainly completed through the "Lakala" smart payment terminal installed in the convenience store. It usually takes 2 to 3 working days to arrive in the account, and there is no handling fee for repayment using this method.
4. Online repayment: The more common online repayment methods in China include: Baidu Wallet, UnionPay Online, Kuaiqian, Shengfutong, Alipay, Yipay, etc. Depending on the platform and bank you choose, the charging standards and specific payment arrival time will be different.
Baidu Encyclopedia - Credit Card Repayment
Baidu Encyclopedia - Credit Card