No.

1. What impact does the credit card installment interest rate reduction have on the credit report?

The credit card installment interest rate reduction has no impact on the credit report, because this is a repayment method supported by the bank. Credit card negotiated interest-free installment is a flexible loan amount negotiated equally between the bank and the cardholder. The loan amount must be longer than the repayment period provided by the bank, or the payment must be made before the final repayment date. If it is overdue, it will affect the cardholder's credit report. . There is also the possibility of recurring interest, which may put pressure on you to repay on time.

The reason why banks want to do this, in addition to increasing income, is mainly because they are worried that the current repayment amount of users is too high, and there is no risk of overdue, so they allow users to repay in installments, which will reduce the pressure a lot. , naturally the risk of overdue will be small.

In addition, if the user has good repayment credit and often makes installment repayments, the bank may consider that the demand for funds is large and increase the amount.

In other words, credit card installment will not only leave a stain on your credit report, but may leave a good impression on the bank and increase the chance of a limit increase. However, since users want to pay in installments, they need to bear the installment fees.

2. How to remedy the overdue credit report

1. Continue to use this card

If the credit card is overdue, do not stop using it. This will be considered by the bank as deliberately overdrafting the credit card and not paying back the money. Therefore, after the overdue period, if possible, try to pay back all the money owed as soon as possible. At the same time, you must continue to use the card and maintain a normal repayment record. , generally after 24 months of use, a new credit record will be generated and a new personal credit can be refreshed.

2. Don’t run away

If the overdue credit card amount is too large and it is overdue for a long time, interest compounding will bring high late payment fees. In this case, even if If you are unable to repay, don't run away, because once you run away, the bank will consider you to be a malicious overdraft and will call the police;

3. If you are unable to repay, you must explain it in time

If it is a special reason If you are unable to repay in the short term due to unemployment, illness, etc., you should promptly submit materials to the bank to state your financial situation. The purpose is to explain to the bank that the debt is not malicious, and try to apply for delayed repayment and interest discounts from the bank. There are several methods you can try: apply for a deferral of repayment for a few days in the future; apply for bill installments to ease the repayment pressure in a short period of time; try to repay with the minimum repayment amount;

4. Full payment Repay the full amount and provide additional explanations

If the credit card is overdue due to negligence, when you find out that it is overdue, you must pay back the entire amount immediately, and at the same time call the bank or go directly to the bank branch to explain what it is. If the overdue record is caused by any reason, ask the bank to delete the overdue record. All this must be handled before the bank reports your overdue record to the Bank of China. Once it is reported to the Bank of China, it will be too late.

Legal Basis

"Measures for the Supervision and Administration of Credit Card Business of Commercial Banks"

Article 70 Under special circumstances, it is confirmed that the amount owed by a credit card exceeds the amount owed by the cardholder If the cardholder has the ability to repay the card and the cardholder is still willing to repay, the card-issuing bank can negotiate with the cardholder on an equal footing to reach a personalized installment repayment agreement. The maximum term of a personalized installment agreement shall not exceed 5 years.

The contents of the personalized installment repayment agreement should at least include:

(1) The balance, structure and currency of the debt;

(2) Repayment Cycle, method, currency, date and repayment amount of each period;

(3) Whether annual fees, interest and other fees will be charged during the repayment period;

(4) Holding The cardholder shall not apply for a credit card commitment from any bank before all amounts related to the personalized installment agreement have been settled;

(5) Rights, obligations and liability for breach of contract of both parties;

(6) Other matters related to repayment.

If both parties reach an agreement and sign an installment repayment agreement, the card-issuing bank and its card-issuing business service agency shall stop collecting payments from the cardholder, unless the cardholder fails to fulfill the installment repayment agreement. If an oral repayment agreement is reached, the card-issuing bank must retain the recording materials.

The recording data will be retained at least until the date of settlement of the debt.