First of all, you will not be prosecuted once your credit card is overdue. Correspondingly, major banks have repayment grace time settings.

General banks generally take about three days, which means that if you repay within three days, it is basically the same as repaying during the interest-free period and will not be affected by overdue payments.

However, some banks will not set a grace period, such as ICBC, so ICBC cardholders should pay attention! You must repay before the latest payment date, otherwise there will be late payment fees and penalty interest.

In addition, if you are overdue beyond the grace period, you will be punished with full penalty interest. The so-called full penalty interest means that after your bill date, regardless of whether you have paid back the payment or not, It will all be treated as unpaid, and interest of 0.05% will be charged every day from the bill date until your debt is paid off.

If it is overdue for more than one week, the bank will reduce the credit card limit to urge you to repay, and the bank will also use constant phone calls and text messages to bombard you. During this period, the bank will not take any coercive measures to ensure the progress of collection.

If it is overdue for more than one month or longer, the bank may outsource your collection to a third party. In this case, the collection form will no longer be limited to the bank's collection form. Moreover, third-party collection will also contact and harass your family and friends in various ways. If you don't want this, it is best to choose to repay earlier!

In an even worse case, if the payment is overdue for more than three months, the bank will take you to court for credit card fraud. At that time, you will face prosecution from the bank.