It is recommended to pay off your credit card balance as soon as possible.
Overdue credit card debt will generate a bad credit record, which will affect personal credit and future credit business, such as loans, car loans, home loans, other businesses, etc.; overdue repayment will generate interest and late fees. If you owe If the payment time is too long, high interest rates and late payment fees will be incurred.
According to Article 196 of the "Criminal Law of the People's Republic of China and the People's Republic of China":
Whoever commits credit card fraud in any of the following circumstances and the amount is relatively large shall be punished with a five-year fine to fixed-term imprisonment of not less than 10 years and not more than 10 years of fixed-term imprisonment or criminal detention, and to a fine of not less than 20,000 yuan but not more than 200,000 yuan; if the amount is huge or there are other serious circumstances, the sentence is to not less than five years but not more than 10 years of fixed-term imprisonment and a fine of not less than 50,000 yuan but not more than 500,000 yuan. fine; 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) Use Counterfeit credit cards, or using credit cards fraudulently obtained with false identification
(2) Using invalid credit cards
(3) Pretending to use other people’s credit cards
(4) Malicious overdraft. Malicious overdraft refers to the cardholder's behavior of overdrafting beyond the prescribed limit or within the prescribed period for the purpose of illegal possession, and still refuses to return the card after being called upon by the card-issuing bank.
Therefore, if the credit card debt is overdue for too long and the bank fails to pay it after several calls, the bank has the right to file a civil lawsuit. If the circumstances are serious and the amount is huge, it will also become a criminal offense.