1. Generation of liquidated damages: overdue repayment causes the cardholder to violate the loan contract. In order to maintain the validity of the loan contract, the credit society collects liquidated damages from the cardholder according to the relevant clauses in the contract. Liquidated damages are measures taken by credit cooperatives to force cardholders to repay, with the purpose of reminding cardholders to fulfill their repayment obligations in time.
2. Interest generation: overdue repayment will lead to the cardholder's next loan, and the credit society will charge interest on this overdue loan according to the interest calculation provisions in the contract. Interest is a kind of fee that the cardholder needs to pay to get a loan with a credit card, which represents the cost of the loan. After the deadline, the credit cooperative will charge interest according to the contract to make up for the use cost of the loan funds.
3. Summary: The main reason why credit cards of credit cooperatives will generate interest and liquidated damages for two days overdue is to maintain the validity of loan contracts and compensate and punish cardholders for overdue behavior through liquidated damages and interest. Cardholders need to repay on time before the credit card repayment date, so as to avoid additional expenses and adverse effects on personal credit records.
Extended data:
1. The amount and collection method of liquidated damages of different credit cooperatives may be different. Cardholders should carefully read the relevant clauses in the credit card contract to understand the specific charging standards and regulations.
2. Overdue repayment will affect the cardholder's personal credit record, which may lead to a decline in credit score, thus affecting future credit lines, loans and credit card applications. Therefore, cardholders should develop good repayment habits and fulfill their repayment obligations on time.
3. If the cardholder can't repay the loan on time due to special reasons, he should contact the credit union in time and negotiate with the credit union as soon as possible to formulate a suitable repayment plan to avoid extra expenses and credit risks due to overdue.
The above is the reason and detailed explanation of the interest and liquidated damages caused by the overdue credit card for two days. Cardholders should understand and abide by credit card contracts in time, and develop good repayment habits to maintain personal credit records and good credit scores.