1. What should I do if my credit card debt is overdue?
1. Negotiate proactively based on the actual situation
The original cardholder It is already overdue and may have accumulated more interest. Everyone should take the initiative to negotiate with the bank. Don't think about reaching the top in one step, asking for interest exemptions, etc., and focus on reality. Explain your income situation and strive for a personalized installment plan.
2. Show a positive willingness to repay
The bank has a policy of suspending interest calculation and handling the pending debt later. In the case of major economic changes, the cardholder is really unable to repay, and showing a positive willingness to repay can help improve the success rate.
3. Provide proof of financial difficulties
Suspension of interest payments will not be beneficial to the bank. It is best for everyone to provide documents showing financial difficulties such as unemployment certificates and serious illness/hospitalization certificates. If it is simply said that the credit card has been maxed out and cannot be repaid, the bank will definitely not agree to negotiate.
2. How to negotiate with the bank to resolve an overdue credit card
1. Determine whether your credit card is truly overdue
Most banks provide an extension service of about 3 days. . If you repay within the bank's grace period, there is no need to negotiate. This is neither overdue nor will it be on your credit report. And if the overdue period is short, there is no need to negotiate if you can repay the loan in full.
You must know that the impact of overdue is progressive with the overdue time. The longer the overdue, the more serious the consequences. Generally, if you are overdue for more than 3 months, you will be blacklisted by the bank, and if you are overdue for 1-3 months, you will be blacklisted by the bank. is the best time to negotiate.
2. Negotiation method for 1-3 months overdue payment
Contact the credit card center immediately to indicate the reason for your overdue payment. It is definitely not a malicious overdue payment. A sincere negotiation attitude is conducive to negotiation, so the cardholder must also show a strong willingness to repay. The next step is to inform the bank of your income and propose a reasonable repayment plan based on actual conditions.
Credit cards that have been used for a long time and have not been repaid will incur high interest rates. Of course, this may be because
Every bank's credit card will have a grace period for repayment. , different banks have different grace period days and different requirements. If you find that you are overdue, you should first call the bank's credit card customer service hotline to ask if there is a grace period, and try your best to repay within the grace period, so that your credit record will not be affected. If the grace period is exceeded, penalty interest will generally be charged on a daily basis, and the cardholder's overdue record will also be uploaded to the credit reporting center.
Generally speaking, credit cards have a 3-day grace period for repayment. If the cardholder repays the debt in time on the third day after the repayment date, it will not be considered overdue and will not be reported to the credit report. If the cardholder repays the loan after the grace period, it will be considered a late payment, and a credit report will be filed regardless of how many days it is overdue.
If the credit card has not been used for a long time, the credit card will be overdue for a long time. It may be because some people forgot to repay, and during this period, they did not receive a refund call due to changes in contact information. Therefore, in these situations, you must actively negotiate with the other party to deal with it. It is possible for the bank to waive the high interest, but it is not absolute.