Credit cards cannot directly reduce interest and repay principal. If the overdue period is long, and there are a lot of interest and penalty interest, you can take the initiative to contact the bank to negotiate interest reduction and exemption, and then pay off the principal in one lump sum after obtaining the consent of the bank to pay off the debt.

But the negotiation of credit card repayment may not be successful. The key for the debtor to explain his difficulties and willingness to repay is to provide relevant documents, such as poverty certificates and income certificates, and ask the bank for approval.

If the credit card is overdue, there will be a penalty interest, full interest, and the daily interest rate will be five ten thousandths. For example, if your credit card is overdue for 5,000 yuan and the overdue days are 30 days, then the penalty interest is 5,000× 0.05 %× 30 = 75 yuan.

In addition, in addition to interest, there will be liquidated damages after the deadline, and the charging standards for liquidated damages of different banks are different. Generally speaking, most banks charge a penalty of 5% of the minimum unpaid amount.

We know that overdue is an act of dishonesty. Once the credit card is overdue, the bank will report the overdue record to the central bank's personal credit report, and the overdue record will be kept in the personal credit report for five years. During this period, applying for a bank loan may encounter high interest rate and small amount, and even the loan application is directly rejected by the bank.

At present, credit reports are mainly used for various consumer credit businesses of banks. With the continuous improvement of the social credit system, credit reports will be more widely used in commercial credit sales, credit transactions, recruitment and job hunting and other fields. In addition, the personal credit report also provides a way for inquirers to examine and standardize their own credit history behavior, and forms a verification mechanism of personal credit information.

In addition, for those who are particularly overdue, their travel will also be affected. They can't spend money on planes, high-speed trains, hotels and mobile phones, and their children can't go to key schools, so it's hard to break their word.

Credit card arrears are protected by law. If the cardholder maliciously overdraws and fails to pay it back within the time limit, it will be suspected of credit card fraud, and will be punished by law and face jail. The punishment depends on the overdue situation. The more serious the circumstances, the heavier the punishment. Those who fail to do so may even be sentenced to life imprisonment.

In order to reduce losses, banks generally reduce the credit card limit of cardholders, or even directly seal the cards. Once the credit card limit is reduced or blocked, it is difficult to withdraw cash or unblock it. If you use a credit card, you must repay it on time. Overdue behavior is not desirable. Never try the law, let alone take chances, otherwise the consequences will be very serious.