1. Credit score reduction: overdue repayment will lead to a decline in credit score, which is an important indicator for evaluating personal credit status.
2. Credit record is damaged: overdue repayment information will be recorded in personal credit report, which may cause obstacles to applying for loans or credit cards in the future.
3. The loan interest rate rises: When applying for a loan in the future, the bank may adjust the loan interest rate according to the individual's overdue record, resulting in additional repayment burden.
to sum up, five days' overdue repayment of credit cards has a negative impact on credit reporting. Therefore, timely repayment is an important way to maintain a good credit record, which is conducive to the smooth progress of personal financial activities.
Extended information:
In addition to the above effects, long-term and frequent overdue repayment may lead to more serious consequences, such as the closure of credit card accounts, the intervention of collection agencies and legal disputes. Therefore, it is very important to develop good repayment habits and ensure timely repayment. At the same time, if you can't repay the loan on time due to special circumstances, you should contact the issuing bank as soon as possible and try to find a reasonable solution to reduce the adverse effects.