If there is arrears including annual fee (even if there is no consumption, annual fee will be generated), the bank will regard this as overdue repayment, and submit this record as a negative record to the personal credit database of the People's Bank of China, and keep it for a certain number of years (currently 5 years).
If you don't pay it back all the time, the bank may list it as a bad debt, and this bad record will be kept for some time. Only after paying off, wait five years, and the bad records will be eliminated.
The cardholder can open the SMS function and clearly know the amount and date of repayment from the SMS bill. At the same time, you can also open online banking business, and you can repay in full and on time through online transfer business without leaving home.
Tip:
Overdue repayment of credit card refers to the situation that the final repayment period stipulated by the bank is exceeded and the consumption money is not deposited into the designated account in full and on time. If the cardholder fails to repay the arrears before the final repayment date of the current bill or the amount of repayment is lower than the minimum repayment amount, the current bill will become overdue.
If the minimum repayment amount is not paid, China Merchants Bank Credit Card Center will charge late fees and interest:
1. The late payment fee is calculated as 5% of the unpaid part of the minimum repayment amount, and the minimum repayment amount is RMB 10 yuan or USD 1 yuan.
2. At the same time, the bank will charge five ten thousandths of daily interest for the whole bill.
3. Bad records will affect the future processing of credit cards and loans.