Normally, it cannot be reduced or reduced, but you can get the opportunity for reduction in the following situations:

1. For credit cards that are overdue because the bank has not clearly charged or the charges are unclear, you can Waiver of liquidated damages.

2. Before the credit card repayment date, the cardholder has negotiated with the bank to postpone the repayment plan, but still incurred overdue fines. He can apply to the bank for exemption.

3. Credit card defaults caused by non-malicious reasons, such as serious illness, unemployment, etc. You can explain the specific reasons to the bank and apply for cancellation of liquidated damages.

What are the consequences of not paying back your credit card?

Failure to repay an overdraft on a credit card is a breach of contract, and the bank may require the cardholder to repay the principal, overdue interest, late payment fees, over-limit fees, etc. If the bank goes to court and wins, the cardholder will be responsible for the legal costs.

Secondly, if the cardholder maliciously overdrafts to a certain amount, for the purpose of illegal possession, and fails to repay the payment overdue, this constitutes the crime of credit card fraud and he will also bear corresponding criminal liability.

In addition, non-repayment after the due date will leave a bad credit record for the user, which will affect subsequent loan processing.