My credit card repayment is overdue and has been suspended by the bank, what should I do?
There are generally two situations when the card is frozen due to overdue payment: 1. After the repayment is received, The card limit will be restored immediately; 2. The card cannot be restored after repayment. You can just cut the card and handle it properly. There is no need to cancel it, and it cannot be canceled. Generally, if it is overdue for more than 30 days, it may be the second situation, and the application will not be approved. If you want to find out which situation your card belongs to, you can call customer service to inquire.
If the cardholder does not repay the full amount after the due date of the credit card and does not choose the minimum repayment amount, the following consequences may occur:
1. Consumption payments no longer enjoy interest-free repayment treatment.
The card-issuing bank will calculate interest on a daily basis based on the consumption amount as the principal from the day when the consumption occurs. The daily interest rate is 0.05% and compound interest is calculated on a monthly basis; for the unpaid portion of the minimum repayment amount, the interest will be calculated on a daily basis. A late payment fee of 5% will be charged monthly.
2. Receive a reminder call and letter from the card-issuing bank.
3. Affect personal credit record.
If a credit card account is frozen by the card-issuing bank, the debt record may be fed back to the People's Bank of China's personal credit system, affecting the cardholder's personal credit record and causing the cardholder to be unable to apply for housing mortgage loans.
4. In serious cases, it may constitute a crime.
Article 196 of the "Criminal Law" stipulates that malicious overdraft means that the cardholder overdrafts beyond the prescribed limit or within the prescribed period for the purpose of illegal possession, and the card-issuing bank continues to pay more than three months after two effective collections. The act of not returning.
Whoever maliciously overdrafts and conducts credit card activities and the amount is relatively large shall be sentenced to 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 not more than five years or criminal detention and a fine of not less than 20,000 yuan but not more than 200,000 yuan; Not less than five years but not more than ten years, and shall also be fined not less than 50,000 yuan but not more than 500,000 yuan; if the amount is particularly huge or there are other particularly serious circumstances, the fine shall not be less than 10 years or more, and also be fined not less than 50,000 yuan but not more than 500,000 yuan, or Confiscation of property.
Anyone who uses credit cards concurrently shall be convicted and punished in accordance with the provisions of Article 264 of this Law.
What should I do if my credit card is overdue and suspended?
After the China Merchants Bank credit card repayment is overdue and the card is suspended, you must first pay off the money as soon as possible (paying off in one go will increase the chance of being lifted). After paying off, call the China Merchants Bank Credit Card Center to apply for activation, and then Wait for approval from the credit card center.
Chinese Merchants Bank's credit card suspension, if left unchecked, the consequences are:
First, if you fail to repay overdue for a long time, the bank will call you to urge you to repay. If you still haven't repaid, The bank has the right to make a payment. It becomes difficult to deal with the situation;
Secondly, overdue credit cards will affect your credit record, and credit stains will be recorded in the credit reporting system. If you want to apply for other bank loans or credit card business, the bank will Check your credit report. If there is a record of non-payment of debt, the bank will generally not accept the application.
So try to find a way to pay off the debt, and it is possible to restore the card after it is suspended. After that, it will take about half a year to accumulate a good credit record of credit card use and repayment, and use good records to cover up the original bad records. This is the right thing to do.
What should I do if my Agricultural Bank of China credit card is overdue and deactivated?
If your credit card is stopped due to overdue, it means that your overdue situation is serious. Generally speaking, failure to repay your credit card on time will affect your credit record. In the future, if you apply to increase your limit or other credit card activities, you will be restricted. , the credit record is included in the personal credit report, which will have a negative impact on subsequent loans, house purchases, installments, etc.
Your top priority now is to pay off the debt as soon as possible, and then continue to use this credit card, and make sure to pay it back on time during the use period. Maybe you can also cover the overdue record, otherwise there is nothing you can do.
Credit cards have two concepts: billing date and repayment date (also known as the final repayment date). The billing date is the day when transactions within a billing cycle are settled, and the repayment date is a repayment period. Because it is impossible to restore the situation of your contact with customer service, it does not rule out that you misunderstood the customer service staff's explanation or the customer service staff's explanation was unclear or even incorrect.
The main function of the repayment date is for banks to determine whether the cardholder has a malicious overdraft tendency and to determine the cardholder's financial status. Therefore, repayment after the final repayment date will inevitably result in an overdue record. Whether this record can be changed from the central bank requires further negotiation with the card issuing bank.
Can a credit card be deactivated due to overdue payment?
If the credit card is deactivated due to overdue payment, after paying off the overdue balance, the user can actively apply to re-open the credit card. Customer service will decide whether to activate it for the user based on the actual situation. The user's card is deactivated due to cash-out, illegal use, etc. At this time, the user cannot actively apply for restoration, and the card may not be activated again.
Therefore, if the card is deactivated and cannot be opened again, the user can apply for cancellation after confirming that there is no outstanding balance in the account, and then apply for a new card after cancellation.
According to the "Notice on Issuing the "Credit Card Business Management Measures"":
Article 33 Anyone who opens a basic deposit account at a financial institution within the territory of the People's Republic of China and the People's Republic of China Units can apply for unit cards. Several unit cards can be applied for, and the cardholder's qualifications shall be designated and canceled in writing by the legal representative of the applying unit or his authorized agent.
Citizens with full capacity for civil conduct can apply for a personal card. The main cardholder of a personal card can apply for supplementary cards for his spouse and relatives over the age of 18. There may be no more than two supplementary cards. The main cardholder has the right to request the cancellation of his supplementary cards.
Article 34 When applying for a credit card, an organization or individual should fill in the application form in accordance with the regulations and submit it together with relevant information to the card-issuing bank. For those who meet the conditions, the card-issuing bank will open a credit card account for the applicant and issue a credit card.
Article 35 All funds in the unit card account shall be transferred and deposited from the basic deposit account. Cash shall not be deposited, and funds from other deposit accounts and sales revenue shall not be deposited into the unit card account.
The funds in a personal card account are limited to cash deposits held by the individual or transfers from salary payments and other legitimate personal income. It is strictly prohibited to transfer funds from the company into personal card accounts.
Article 36 Credit cards can only be used by the legal cardholder himself, and the cardholder is not allowed to rent or lend the account.
Article 37 After the cardholder has paid off the principal and interest of the overdraft, the cardholder can cancel the account if it falls into one of the following circumstances:
(1) 45 days after the expiration of the credit card validity period, the cardholder shall The person does not replace the new card;
(2) After 45 days of reporting the loss of the credit card, the credit card does not have an additional card and does not replace the new card;
(3) The credit card is not good and is included in the Stop payment list, the card-issuing bank has withdrawn the credit card for 45 days;
(4) The cardholder dies for some reason, and the card-issuing bank has withdrawn the credit card for 45 days;
(5) ) The cardholder requests to cancel the account or the guarantor revokes the guarantee, and has returned all credit cards for 45 days; (6) The credit card account has not had any transactions for more than two years (inclusive);
(7) The cardholder violates other regulations and the card-issuing bank believes that the cardholder should be disqualified.
Article 38 The card-issuing bank shall take back the credit card when canceling the account. If a valid card cannot be recovered, payment should be stopped.
When canceling the account, the balance of the corporate card account will be transferred to the basic deposit account, and no cash withdrawal is allowed.
Article 39 If a credit card is lost or stolen, the cardholder should immediately apply for a loss report to the nearest card-issuing bank or agency bank with his or her ID card or other valid certificate, and provide relevant information as required. Loss reporting procedures.
Article 40 If the cardholder finds his or her credit card after applying for a loss report, he or she may apply to cancel the loss report and stop payment.
How to restore the use of a credit card that is overdue and suspended (what to do if a credit card is suspended by the bank after it has expired)
1. There are two main situations where a common credit card is suspended: 1. Situation 1: Your credit card has experienced transaction abnormalities recently and may have been attacked by hackers or other criminals. For the safety of the cardholder, the bank has frozen the credit card.
2. Countermeasures: In this case, if the credit card is deactivated, the cardholder can call the card-issuing bank and ask the bank to reissue the credit card. After getting the new card, he can directly open it and use it, and at the same time, the original card will be used. The credit card is cut.
3. Scenario 2: Your credit card is seriously overdue and has been more than 3 months. The issuing bank has the right to unilaterally deactivate the credit card.
4. In addition, even if the credit card is deactivated in this case, the late payment fees and interest that still exist on the cardholder's bill will continue to increase. If the amount reaches the bank's regulations, the bank can charge the cardholder, For larger amounts, cardholders may also be subject to penalties.
How to restore a credit card (debit card) that has been suspended due to overdue use?
If a credit card (debit card) is deactivated due to overdue payment, you should first pay off the overdue balance, and then call the customer service hotline of the card-issuing bank to have the manual customer service restore the card as soon as possible. After the user pays off the overdue balance, the bank will re-evaluate the recent use of the credit card (credit card). If the user meets the conditions for card restoration, the card will be restored as soon as possible. If it does not meet the recovery conditions, the card cannot be recovered in the near future.
Overdue credit cards (debit cards) cause the card to be deactivated. Usually the overdue situation is serious. At this time, the overdue balance must be paid off as soon as possible.
This is the introduction to the overdue credit card deactivation.