According to Article 14 of the China Bank Card Industry Self-discipline Convention, member units should provide cardholders with "time-tolerant service" and provide cardholders with a certain period of repayment grace period, which is at least 3 days from the due repayment date; If the cardholder repays within the repayment grace period, it is deemed that the cardholder repays on time.

China Bank Card Industry Self-discipline Convention is used to bind China citizens, promote the standardized and healthy development of the bank card industry in China, and maintain a fair and orderly competitive environment in the bank card market. This Convention is formulated in accordance with relevant national laws, regulations and regulatory requirements, and in combination with the reality of bank card business.

Guangfa Credit Card is the first domestic standard credit card issued by Guangfa Bank 1995, and it is also the first credit card to achieve profitability. The credit limit of the card is preset according to international standards, which is used for overdraft consumption and cash withdrawal transactions without pre-deposit.

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The interest-free period of overdraft consumption can be as long as 50 days. As long as you repay in full before the repayment due date stipulated by the bank, you can enjoy interest-free treatment from the trading day to the repayment due date. The repayment method is flexible, you can pay off in full, or you can choose the minimum repayment amount, enjoy revolving credit, and manage your finances more freely.

Article 207 of the Contract Law stipulates that "if the borrower fails to repay the loan within the agreed time limit, it shall pay overdue interest in accordance with the agreement or relevant state regulations".

Penalty interest will be charged if it is overdue. From the overdue date, default interest will be charged at the agreed interest rate 150% every day until the payment is overdue. Your overdue record will be collected by the People's Bank of China, which will affect your credit record. Please cherish your credit and repay on time.

If loans overdue exceeds a certain period, the relevant records of overdue users will be transmitted to the personal credit information system of the central bank. In addition to uploading overdue information to the central bank's personal credit information system, Lending will continue to cooperate with third-party credit information agencies such as Qianhai Credit Information, Shanghai Credit Information and Pengyuanzheng Credit Information.

For loans that are overdue or not used according to the purpose agreed in this contract, interest will be charged at the default interest rate from the date when they are used in loans overdue or not according to the purpose agreed in this contract until the loan principal and interest are fully paid off. For the interest that cannot be paid on time, compound interest shall be calculated at the penalty interest rate.

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