If the credit card repayment is not enough, overdue repayment will result in interest and overdue records.

1. Overdue repayment will accrue interest.

Interest will be calculated based on the daily interest rate of 5/10,000, and compound interest will be charged monthly. It will be calculated based on the actual amount of debt from the date of recording the transaction until the entire debt is paid off. until.

2. Overdue repayment affects personal credit.

After the credit card expires, it will have an impact on the personal credit record. Specifically, the cardholder's bank will record the cardholder's overdue record, and the People's Bank of China will also have the cardholder's bad credit record. It will have a certain impact on cardholders applying for credit cards and loans.

Once a credit card payment is overdue, you will need to bear interest and bear corresponding legal liabilities. Here are 4 ways to avoid overdue payments on your credit card.

1. Apply for bill installment: Cardholders can apply for installment repayment of the current bill after the bill date but before the final repayment date. Installment repayment can greatly reduce the repayment pressure, but the disadvantage is that the installment fee is higher.

2. Repay according to the minimum repayment amount: The card-issuing bank allows cardholders to repay according to the minimum repayment amount (approximately 10% of the bill amount), but when repaying according to the minimum repayment amount, The consumption in the bill will no longer enjoy the interest-free period, and interest of 0.05% will be paid on a daily basis from the date of consumption. This can avoid overdue credit cards and extend the repayment time.

3. Change the billing date: For most bank credit cards, you can change the billing date after 6 months of normal use. If you find that you have consumed too much in the current period and have difficulty repaying the full amount, you can finally repay it. Apply to change the billing date a few days before the payment date, so that you can get an additional interest-free period.

4. Credit card repayment: Credit card repayment means a third party helps the cardholder pay off the credit card bill, and the cardholder then repays it to them. The rate is lower than the credit card installment. Finding a credit card agent can also relieve temporary financial stress.