Late payment fees means that your credit card repayment is overdue. You should have repaid it that month, but you did not repay it that month, so late payment fees arose. As for liquidated damages, it is the contract you signed. , as a result, you failed to comply with the contract, resulting in a breach of contract and requiring you to pay liquidated damages.

The credit card is overdue.

If a credit card is overdue, according to the "Bank Card Industry Self-Discipline Convention", if the payment is late for up to 3 days, and the repayment difference is within 10 yuan, no penalty interest will be charged. Otherwise, it will be considered overdue.

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

1. Interest and late payment fees

Interest generally refers to the full amount of penalty interest, which means that even if the customer repays part of the amount, the repayment part will not be deducted when calculating the penalty interest, and the interest expense Usually calculated based on daily interest rate of 5/10,000.

Late payment fees refer to the "late payment fees" charged on the unpaid portion of the minimum repayment amount when the cardholder's actual repayment amount is lower than the minimum repayment amount on the due date of the credit card. The proportion of late payment fees is uniformly stipulated by the People's Bank of China, which is 5% of the unpaid portion of the minimum repayment amount.

2. If you have overdue repayments more than three times, you can apply for a credit card but the limit is very small, or you can get a loan but the interest rate is very high

3. Have a bad credit record

If you are overdue more than 6 times and fail to pay once, you will be blacklisted by the "Personal Credit Information System" of the People's Bank of China. Being on the blacklist may affect your work, schooling, and going abroad. Don’t think that it only affects you, your spouse and children are also affected. By that time, there will be no regrets, and the credit report will not believe the tears.

4. Bear criminal responsibility

If the card is not repaid maliciously, exceeds the prescribed limit or time limit, and the card issuer still fails to repay the card after two reminders for more than 3 months, it will be classified as " Malicious overdraft."

A malicious overdraft of between RMB 10,000 and RMB 100,000 shall be considered as a relatively large amount and shall be sentenced to fixed-term imprisonment of not more than 5 years or criminal detention. If the amount is huge, from 100,000 yuan to 1 million yuan, the person shall be sentenced to imprisonment of not less than five years but not more than ten years.

If the amount is more than 100,000 yuan but less than 1 million yuan, if the amount is huge, the amount is huge or there are other serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than five years but not more than 10 years, and shall also be sentenced to not less than 50,000 yuan but not more than 500 yuan. A fine of not more than 10,000 yuan;

Whoever maliciously overdrafts more than 1 million yuan for an extremely huge amount, or if there are other particularly serious circumstances, shall be sentenced to fixed-term imprisonment of not less than ten years or life imprisonment, and shall also be sentenced to a fine of not less than 50,000 yuan. A fine of up to 500,000 yuan or confiscation of property may be imposed.