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What will happen if the minimum repayment amount of credit card is not enough?
After spending by credit card, the credit card bill has a fixed repayment date, and the credit card holder needs to complete the credit card repayment within the specified time to repay on time. Credit card repayment methods are usually divided into three types, namely minimum repayment amount, installment repayment or full repayment. The minimum repayment amount is the minimum repayment amount of the bill, and the remaining unpaid amount is calculated on a daily basis. So what if the minimum repayment amount of the credit card is not enough? Let's get to know each other.

What if the minimum repayment amount of credit card is not enough?

The minimum repayment amount of a credit card is usually 10% of the credit card bill amount, and the minimum repayment amount must be the repayment amount displayed on the credit card bill page. If the minimum payment is not enough, there will be two consequences. First, it will be regarded as overdue repayment of credit cards, and overdue records will be reported to the central bank's credit information system by banks and recorded in personal credit information reports; Second, it will impose corresponding penalty interest on the overdue part of the cardholder, resulting in an increase in personal liabilities.

The above is the introduction of the minimum repayment amount of credit card, I hope it will be helpful.