1. During the personalized installment repayment period, overdue credit cards cannot be applied for any bank's credit cards, and new loans from financial institutions will not be approved. After five years, the arrears will be paid off, and the credit information will automatically return to normal before the credit business can be handled again.
Second, on the credit report, the status of the credit card shows that payment is stopped, and it is overdue every month, that is, the credit card is frozen, and only the money inside can be returned, and it can no longer be spent.
Third, after reaching a personalized installment repayment agreement, it is necessary to complete the repayment on time. If it is overdue again, it will be very troublesome. The bank will recover the overdue penalty interest and demand full payment or direct prosecution.
Summary:
Personalized staging can help cardholders pay off their debts as soon as possible, but it is still very harmful to credit reporting. The credit information of the cardholder will be recorded as suspended and suspended. People with such credit records, whether applying for a credit card or a loan, will be rejected at the first time, and it will take another five years to resume credit reporting after paying off their debts in installments as stipulated.
The demand conditions and advantages and disadvantages of personalized credit card installment analysis, it is important that the cardholder must pay off the arrears of each installment in full and on time according to the agreement. If it is overdue again, the suspended collection will come back and the interest will begin to compound again. The bank will not give a second chance to negotiate, but ask for a one-time repayment of the arrears, and the consequences will be more serious.