We all know that credit cards have a final repayment date, and the payment will not be overdue unless the payment is received before the end of the repayment date. However, there are also many people who do not repay their loans in time due to various reasons, and when they do so, they find that they have already paid one day late. So what are the consequences of paying off your credit card one day late? Let’s take a look. Although a credit card is considered overdue if it is repaid beyond the stipulated repayment date, it still needs to be analyzed in detail. After all, some overdue payments are not really overdue. For example, if you are one day late on a credit card payment, it depends on whether the card issuer has a grace period. Time tolerance refers to the grace period. Here, we will use whether a credit card has a grace period as a watershed. Let’s briefly talk about whether a credit card will be overdue if you pay it back one day late, and the impact it will have.

1. There is a grace period. Most bank credit cards have a grace period, which is usually 2 to 3 days after the specified repayment date. If you fail to repay after the grace period, it is truly overdue. Therefore, if it is a credit card from a bank with a grace period, if the repayment is made one day after the repayment date, and the repayment time does not exceed the grace period, this is a normal repayment, not overdue, and will definitely not have any impact. .

2. There is no grace period. Some banks do not have a grace period, such as Industrial and Commercial Bank of China. If you do not repay the loan on the day after the repayment date, it will still be overdue even if it is only one day late. There will be these two effects. . 1) One day's penalty interest and liquidated damages will be generated. The standard for liquidated damages is 5% of the unpaid portion lower than the minimum repayment amount; the daily interest is 0.5%, and the interest is calculated based on the amount of the monthly bill owed. 2) If a bad credit record occurs, the second-generation credit report requires reporting on the same day of collection. When the credit report is updated on T1, the credit card overdue record will be displayed, which is not conducive to handling bank credit business in the future.