Before 20 19, if it is overdue, some late fees will be charged. However, from the new regulations, liquidated damages have replaced the original late fees. Interest will be calculated on all expenses incurred after the previous overdue period. After the new regulations, the service fees such as liquidated damages, annual fees, cash withdrawal fees and currency exchange fees charged by banks will not be calculated. It is generally believed in the industry that this is the most influential one in the new regulations.

Extended data:

Generally speaking, every bank will charge a certain interest for overdue repayment, which is different from each bank, and is generally five ten thousandths of the interest. However, the value date should be calculated from the date of consumption, not from the day after the last repayment date.

When a credit card (debit card) holder chooses the minimum repayment method or uses a card that exceeds the credit limit approved by the issuing bank, he will no longer enjoy the interest-free repayment period, and will pay overdraft interest calculated at the prescribed interest rate for the unpaid part from the bank bookkeeping date.

Baidu encyclopedia-overdue repayment

Baidu Encyclopedia-China Bank Card Industry Self-discipline Convention