No, being unable to repay the credit card is just a civil dispute and does not constitute a criminal offense and will not lead to jail time. However, if you have the ability but refuse to execute, it may constitute the crime of refusing to execute the judgment or ruling. The law stipulates that anyone who is capable of executing a judgment or ruling of a people's court but refuses to execute it, if the circumstances are serious, shall be sentenced to fixed-term imprisonment of not more than three years, criminal detention, or a fine.
Under normal circumstances, those who default on their credit cards and have no ability to repay will not be jailed, but those who constitute credit card fraud must bear corresponding criminal liability. For example, if the party knowingly knows that he has no ability to repay, but still maliciously overdrafts his credit card, this kind of behavior It is credit card fraud and constitutes the crime of credit card fraud. If the circumstances are particularly serious, you may be sentenced to more than 10 years in prison or life imprisonment.
Debtors who are unable to repay their credit card debts will generally not go to jail as long as they repay the principal and interest in a timely manner. However, if the borrower overdrafts maliciously and has the purpose of illegal possession, it may constitute a crime of credit card fraud and bear corresponding criminal liability. Whoever commits credit card fraud and the amount is relatively large shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and shall also be fined not less than 20,000 yuan but not more than 200,000 yuan; if 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. In addition, a fine of not less than 50,000 yuan but not more than 500,000 yuan shall be imposed.
What are the consequences of overdue credit cards?
1. High penalty interest and liquidated damages.
2. It affects your own credit report. Credit card is a business launched by banks. If it is overdue, your own credit report will be reported. Generally speaking, as long as it is overdue more than 6 times or is overdue for more than three months at one time, it is considered a credit report. Users with serious overdue credit, as long as 4 years overdue, have been included in the credit blacklist. Later, they will be restricted from flying, high-speed rail, and applying for loans at banks.
3. Being sued by the bank. Credit card debts will eventually be sued by the bank.
What should I do if I can’t pay back my card payment when it is due?
1. Pay the minimum repayment amount. Every bank will set a minimum repayment amount for credit card holders. As long as the cardholder can repay this minimum amount, the bank will neither charge late fees nor affect personal credit. Generally speaking, this minimum payment is 10% of the bill amount.
2. Take the initiative to negotiate with the bank.
When using a credit card for consumption, cardholders need to consider their financial affordability. If the consumption is within the cardholder's financial affordability, but due to some special reasons they are unable to repay the credit card, Although he will not go to jail, the person concerned still has to find a way to repay the credit card. Overdue credit cards will cause damage to the personal credit report.
Legal Basis
"Interpretation of the Supreme People's Court and the Supreme People's Procuratorate on Several Issues Concerning the Specific Application of Laws in Handling Criminal Cases of Obstruction of Credit Card Management" Article 6
Uphold If the cardholder overdrafts beyond the prescribed limit or within the prescribed period for the purpose of illegal possession, and fails to return the card for more than 3 months after being called upon twice by the issuing bank, it shall be deemed as a "malicious overdraft" as stipulated in Article 196 of the Criminal Law. . Any one of the following circumstances shall be deemed as "illegal possession for the purpose" as stipulated in the second paragraph of Article 196 of the Criminal Law:
(1) Overdrafting a large amount of money knowing that one has no ability to repay, Unable to return;
(2) Wanton squandering of overdraft funds that cannot be returned;
(3) Escape after overdraft, change contact information, evade bank collection, etc.