Consequences of overdue repayment of credit cards:

1. The liquidated damages are generally the minimum repayment amount, that is, 5% of the unpaid part.

2, the interest rate is high, and it is rolling interest. When there are many debts, the interest rate is scary.

3. Overdue will tarnish the credit record, resulting in the inability to handle financial needs such as buying a house and lending in the next two years.

4. The overdue payment is more than 3 months, and the amount exceeds 1 000 yuan, and the bank has repeatedly failed to make dunning. At that time, you will not only pay back the money, but also bear criminal responsibility.

Extended data

Article 16 of the Regulations on the Administration of Credit Information Industry stipulates that the retention period of personal bad information by credit information agencies is 5 years from the date of termination of bad behavior or incident; More than 5 years, should be deleted.

Therefore, because the overdue time is too long, after being blacklisted by the bank or forced to stop the card, remember not to cancel the card at this time. Because there will be no new credit records in the credit information system after the card is cancelled, the previous bad records will always exist because they have not been replaced by new records.

The central bank generally chooses to re-extract credit records from banks every two years. If the cardholder keeps a good habit of using the card after generating a bad record, after two years, the new good record will be gradually refreshed to replace the old negative record.

Cardholders can choose to deposit 1- 10 yuan into the card every month to keep the status of the card unchanged, so bad records will be erased when the central bank extracts information.

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People's Network-Learn how to avoid bad credit records in credit investigation.