Introduction: Credit card maxing out refers to the behavior of the cardholder spending more than the credit card overdraft limit given by the bank. Speaking of credit cards, I believe everyone is familiar with them. As society continues to progress, netizens are under increasing financial pressure. Many people use credit cards to relieve stress. I believe many people have at least one or even several credit cards. But some people don’t know much about credit cards, so how can they remedy the situation after maxing out their credit cards? What are the consequences?

How to recover after a credit card is maxed out

1. Repayment: After a credit card is maxed out, it is necessary to pay it off in time, which is also the best option not to consider. Don't be overdue as there will be credit information for overdue payments. Choose the minimum payment amount: The minimum payment amount is approximately 10% of the credit card bill amount, and 0.05% interest. Therefore, the best way is to choose a shorter repayment time and increase the one-time repayment amount as much as possible;

2. Adjust the repayment date: Most card issuers allow cardholders to change payments. date. If you have a sum of money entering your account, you can choose this plan when you swipe your card to repay, which can reduce the payment of interest and fees, and can also alleviate short-term debt;

3. Temporary limit: Max out bank credit cards The fixed credit limit can be supplemented with a temporary limit. Credit cards have fixed credit limits and temporary credit limits, but the temporary limit must be applied for through the customer service hotline of the card issuing organization and other official methods; < /p>

4. Negotiate installments: According to Chinese law, the bank's collection of two outstanding payments in March can be characterized as malicious overdrafts. Therefore, you should proactively contact the bank, inform the bank of the actual situation, express your willingness to repay, and apply for installment repayment;

5. Suspended interest rates: Article 70 of the "Banking Credit Card Business Control Methods" stipulates: In the event of force majeure In the event, if it is determined that the credit card debt exceeds the user's repayment ability, and the user is still willing to repay, the card-issuing bank can negotiate with the user on an equal footing to reach a humanized repayment agreement, which can be up to 5 years and 60 cycles.

What are the consequences of maxing out your credit card

1. Incurring over-limit fees

It is important to note that there are over-limit fees for over-limit consumption. Some amounts are not interest-free, and generally do not support minimum repayments and bill installments, so they need to be paid off in one go to avoid incurring other fees.

2. Adjustment of credit limit

After using a card, the most important thing is the repayment issue. After the explosion, repay in full and in a timely manner, otherwise you will not only have to bear more expenses, but also There is a risk of overdue payment, which may reduce your credit card balance.

What is the role of a credit card?

1. It facilitates people’s lives and saves the trouble of carrying cash. There are no regional restrictions on the use of credit cards. No matter where you swipe your card anywhere in China, as long as there is a UnionPay logo, Cards can be swiped, and there is no handling fee;

2. You can participate in various discounts and discounts organized by merchants and banks;

3. Points earned by swiping cards can be redeemed for gifts; < /p>

4. Timely repayment after swiping the card can improve personal bank credibility.

Warm reminder: Netizens must repay on time when using credit cards. If it is overdue, it will have a great impact on your credit score.