Credit cards do not constitute a crime. Individuals will be convicted and punished for credit card fraud, according to the "Interpretations of the Supreme People's Court and the Supreme People's Procuratorate on Several Issues Concerning the Specific Application of Laws in Handling Criminal Cases Obstructing the Management of Credit Cards"

Article 12: Violate national regulations, use sales Point terminals (POS machines) and other methods to directly pay cash to credit card holders through fictitious transactions, false prices, cash returns, etc. If the circumstances are serious, an illegal charge shall be made in accordance with the provisions of Article 225 of the Criminal Law. Conviction and punishment for business crimes.

Whoever commits the acts mentioned in the preceding paragraph and the amount exceeds one million yuan, or causes overdue repayment of the financial institution's funds of more than 200,000 yuan, or causes economic losses of more than 100,000 yuan to the financial institution, shall be deemed to have It is a "serious circumstance" stipulated in Article 225 of the Criminal Law; the amount exceeds 5 million yuan, or causes overdue repayment of more than 1 million yuan in financial institutions' funds, or causes economic losses of 500,000 yuan to financial institutions. The above shall be deemed as "particularly serious circumstances" as stipulated in Article 225 of the Criminal Law.

If a cardholder maliciously overdrafts in the above manner for the purpose of illegal possession and should be held criminally responsible, he will be convicted and punished for the crime of credit card fraud in accordance with the provisions of Article 196 of the Criminal Law.

Extended information:

Reasons for overdue repayment

Reason 1: Too many cards and forget to pay them

For the increase in non-performing rate, there are Industry insiders told reporters that many people now have multiple credit cards in their hands. Having too many credit cards may make you forget the repayment date, credit limit, etc. of each card, which may easily lead to late repayment.

Reason 2: Funds are tight due to economic downturn

Due to the economic downturn, corporate funds are tight and banks are calling for repayments. As a result, some companies have begun to use personal credit cards to repay bank loans and private lending interest.

This has also resulted in a large number of bank credit cards being overdue.

Reason 3: Credit card cash withdrawals

The reporter learned that last year, the National Development and Reform Commission lowered the card processing fees, and banks can only make money by increasing business methods. In addition to promoting installment payment, many banks are currently also offering cash withdrawals of the remaining balance, and even issuing small loans through credit cards.

Henan Provincial Higher People's Court - Interpretation on Handling Criminal Cases of Obstructing Credit Card Management

People's Daily Online - Three Reasons for Overdue Credit Card Repayments