1. How to calculate the penalty for credit card installment payment?

If it is overdue for 3 months, the liquidated damages shall be calculated at 5% of the unpaid part of the minimum repayment amount; After 3 months, pay 5% of the total amount owed monthly. Liquidated damages refer to the situation that the actual repayment amount of the credit card is lower than the minimum repayment amount on the due repayment date of the credit card.

After the credit card is overdue, there will be penalty interest and liquidated damages. The cardholder should add the principal owed and the interest generated to calculate the actual amount owed, and then see how to repay it according to his income and liabilities. If the overdue period is less than 3 months, the cardholder can repay as soon as possible if he can easily repay, instead of borrowing money from family, friends and relatives. There are too many interests overdue for more than 3 months, and it is really impossible to pay them off at one time. Take the initiative to contact the bank to see if we can negotiate repayment, and let the interest not rise again by reducing interest rates or repaying in installments.

Second, what should I do if I can't afford the credit card?

1. Before the deadline for repayment comes, the cardholder should take the initiative to call the bank credit card center, state his financial situation, declare that he is not maliciously in arrears, and apply for deferred repayment and interest concessions.

2. In view of the cardholder's positive performance and previous good credit record, banks often agree to postpone repayment, and negotiate with the cardholder the repayment plan, extension period, interest discount, monthly repayment amount, etc. acceptable to both parties. In this way, if you take the initiative to contact the bank and the bank agrees to postpone the repayment, you will not be recorded in the bad record, but it should be noted that you will be guaranteed to repay the loan as agreed in the future.

Usually, I forget to pay the loan. If I find it overdue, I will repay it in full as soon as possible. Then call the bank's credit card center to declare that there is no malice. If the past record is good and the overdue time is short, if the repayment is found to be good after the overdue, it may not be recorded in the bad record.

4. Credit card repayment information will be recorded by the central bank's credit information system for 24 months, that is, the bad credit records generated by overdue credit card repayment will be kept in the credit information system for two years. Don't cancel the credit card immediately after paying off the arrears after the overdue repayment of the credit card. You should insist on using the card for more than two years, and maintain good credit during this period.

The credit card overdue penalty is calculated at 5% and needs to be charged monthly. If the cardholder can afford it, he/she has to pay off all the credit card debts, but not all at once. He/she can explain the reasons to the bank, show the cardholder's willingness to repay, and apply to the bank for installment repayment. There are mainly three stages, and the cardholder can decide the specific stage by himself.