Serious, the impact is relatively large

If a credit card is seriously overdue for one month, it will not only generate one-month overdue interest, but also affect personal credit report

Credit cards are provided by banks It is a tool for eligible cardholders to use for overdraft consumption in advance. Cardholders must pay attention to abide by the rules of using the credit card when using the credit card, and do not have bad credit such as overdue credit. If the cardholder becomes overdue after using the credit card, and the overdue time reaches one month, the impact will still be huge.

Overdue interest on bank credit cards is generally 0.05% per day. The interest is calculated at an interest rate of 0.05% per day, and then compound interest is calculated at an interest rate of 0.5% per day until the cardholder repays all the payments. Until clear.

For the overdue balance, interest will be charged on the full amount and compound interest will be charged on a monthly basis until the cardholder repays all the balance. Currently, if a credit card is overdue, the bank will issue agreed interest for 5 months based on the cardholder's failure to repay the minimum repayment amount for more than 3 months.

Can I withdraw cash by credit card?

Credit cards can be used to withdraw cash. Cash withdrawal by credit card is one of the functions of a credit card. In addition to using the credit card limit for overdraft consumption, cardholders can withdraw cash through a credit card when they encounter difficulties in capital turnover. It is the easiest way to borrow money. Way. Under normal circumstances, the maximum cash withdrawal limit on a credit card is 50% of the credit card's credit limit. If the remaining credit limit on the credit card is less than 50%, then usually the maximum amount that can be withdrawn is the remaining available credit limit on the credit card. However, some credit cards of some banks support cash withdrawals of 100% of the credit limit. The specific cash withdrawal limit is subject to the bank's regulations.

What should I do if my credit card is overdue and I am sued?

If you are sued for an overdue credit card, you should proactively contact the bank to see if the case can be mediated privately. If the bank agrees, it should draw lots and pay off the debt as soon as possible; if the cardholder is really in financial difficulty, he can communicate with the bank to negotiate an extension of repayment; usually the bank just hopes to recover the debt as soon as possible, and does not really want to It is generally possible to take the cardholder to court, so the cardholder guarantees that he can repay the money as agreed and take action later. If the cardholder takes no action, it may be considered a malicious overdraft. Malicious overdraft refers to the cardholder's behavior of overdrafting beyond the prescribed limit or within the prescribed period for the purpose of illegal possession, and still refuses to return the card after being called upon by the card-issuing bank.

It is quite serious if a credit card is overdue for one month, and overdue interest will accrue, which is generally calculated at an interest rate of 0.5% per day. Cash withdrawals are possible with credit cards, but the maximum withdrawal amount is 50% of the credit card limit. If your credit card is overdue and you are sued, you can pay it off first to see if the lawsuit can be dismissed.

What are the consequences of a credit card being overdue for one month?

In addition to affecting credit and indirectly affecting loans, being overdue for one month also has the following effects:

1. Reduce the credit card limit .

You have been overdue for one month. The bank will be wary of your behavior to prevent you from overdrafting more. It is also to limit your behavior and thereby reduce your credit card limit. This reduction is not a few hundred, but a half and half reduction.

2. Facing collection calls

It is impossible to hide the payment from the bank if you are overdue. First you will receive a collection text message, and then you will receive a collection call to press you for payment. If you encounter an outsourced collection company, it is possible that the phone calls will be blown.

3. Incur additional costs.

You originally only had to repay the principal, but if you are one month overdue, you will incur more than two months of interest and the default amount. The interest is calculated based on the daily interest rate of 0.05%, and the liquidated damages are calculated based on the minimum repayment amount x 5. Just looking at the formula is not much, and I am shocked when I calculate it.

Legal Basis

Article 676 of the Civil Code If the borrower fails to repay the loan within the agreed time limit, he shall pay overdue interest in accordance with the agreement or relevant national regulations.

Article 678 The borrower may apply to the lender for an extension before the expiration of the repayment period; if the lender agrees, the extension can be made.

Article 100 of the "Civil Procedure Law of the People's Republic of China" When an agreement is reached through mediation, the People's Court shall prepare a mediation letter. Article 123 To initiate a prosecution, a complaint shall be submitted to the People's Court, and copies shall be submitted according to the number of defendants.

Article 243 The parties must fulfill any legally effective civil judgment or ruling.

If one party refuses to perform, the other party may apply to the People's Court for enforcement, or the judge may transfer the matter to an execution officer for enforcement.

Article 251: If the person subject to execution fails to perform the obligations specified in the legal document in accordance with the execution notice, the people's court has the right to seize, detain, freeze, auction, or sell off the property of the person subject to execution that is required to perform his obligations. . However, the daily necessities of the person subject to execution and his dependent family members shall be preserved.