1. What are the consequences of being unable to repay if your credit card is overdue?

(1) High interest and late fees

Non-repayment of credit card Cardholders will no longer enjoy the credit card interest-free period. Interest will be charged at 0.5% per day starting from the day of consumption, and compound interest will be calculated on a monthly basis. A debt of tens of thousands of yuan will accrue thousands of yuan in interest within a few days. The longer the period, the higher the interest.

If the credit card interest-free period is exceeded and the repayment is not made in time, the bank will charge the credit card holder a late payment fee, which is 5% of the unpaid minimum repayment amount. After a certain period of time, the bank will charge the card holder with a late payment fee. People charge higher penalty rates.

(2) Personal credit stains

As long as you have applied for a credit card or a loan, you will know how important your personal credit record is. Once there are stains on your credit record, you will basically want to apply for a credit card. It will be difficult. This is not the most troublesome thing. The worst thing is that if you want to buy a house in the future and your credit is stained, the loan limit of the mortgage loan will be smaller than others and the interest rate will be higher than others. If the application is seriously overdue, you may even want to If you spend too much interest, banks won't lend you money.

(3) Credit card suspended

If the credit card is not repaid, the bank will take back the revolving credit granted to the cardholder, and the credit card will be suspended. For repeated repayment arrears or long-term arrears of large amounts, the bank will consider the cardholder to have a higher risk of repayment, and will stop using the credit card and recover the arrears from the cardholder. This will cause the bank to encounter problems. If the credit card debt is still not repaid after collection, the bank may apply to auction the cardholder's other fixed assets.

(4) Malicious debts will be punished

If the credit card debt is not repaid for more than three months, it will be regarded as a malicious overdraft, and the bank can initiate judicial proceedings. If the credit card overdraft is more than 50,000 yuan, the debt is in arrears for more than 3 months, and the bank refuses to repay it after being called for more than 3 times, the judicial authorities will take corresponding measures (criminal detention for less than 50,000 yuan).

2. Will you go to jail if you owe a credit card?

Generally speaking, you will not go to jail if you owe a credit card. It is only a civil liability and does not fall into the criminal category. However, if the cardholder exceeds the prescribed limit or overdrafts within the prescribed period for the purpose of illegal possession, and fails to return the card for more than 3 months after being called upon twice by the issuing bank, this constitutes a crime of credit card fraud. Once the crime of credit card fraud is constituted, it falls into the criminal category and should be subject to criminal penalties.

Whoever commits credit card fraud and the amount is relatively large shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and shall also be fined not less than 20,000 yuan but not more than 200,000 yuan; if the amount is huge or there are other serious circumstances, he shall be sentenced to not more than five years in prison or criminal detention. to a fixed-term imprisonment of not less than 10 years but not more than 10 years, and a fine of not less than 50,000 yuan but not more than 500,000 yuan; if the amount is particularly huge or there are other particularly serious circumstances, the sentence is to not less than 10 years of fixed-term imprisonment or life imprisonment, and a fine of not less than 50,000 yuan but not more than 500,000 yuan. A fine of not more than RMB 10,000 or property confiscation may be imposed.

Article 196 of the "Criminal Law": Whoever commits credit card fraud activities under any of the following circumstances and the amount is relatively large shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and shall also be fined not less than 20,000 yuan and not less than 20 yuan. A fine of not more than 10,000 yuan; if the amount is huge or there are other serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than five years but not more than 10 years, and a fine of not less than 50,000 yuan but not more than 500,000 yuan; if the amount is particularly huge or there are other particularly serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than five years but not more than 10 years. A person shall be sentenced to fixed-term imprisonment of not less than 1 year or life imprisonment and shall also be sentenced to a fine of not less than 50,000 yuan but not more than 500,000 yuan, or confiscation of property:

(1) Using a forged credit card, or using a credit card fraudulently obtained with false identity certificates

(2) Using an expired credit card;

(3) Pretending to use another person’s credit card;

(4) Malicious overdraft.

The so-called malicious overdraft mentioned in the preceding paragraph refers to the cardholder’s behavior of overdrafting beyond the prescribed limit or within the prescribed period for the purpose of illegal possession and failing to return it even after being called upon by the card-issuing bank.

Anyone who steals a credit card and uses it shall be convicted and punished in accordance with the provisions of Article 264 of this Law.

Credit cards need to be repaid in time every month after use, otherwise it will bring serious consequences, such as high interest rates. If it is a malicious arrears, there may be Being sued.

If you use a credit card for the purpose of illegal possession, you may even be suspected of a criminal offence.