The main reason why credit cards suddenly cannot make minimum repayments is that once the credit card is overdue, most banks will reject the cardholder's application for minimum repayments. If the credit card cannot make the minimum repayment, it means that the bank does not allow the cardholder to apply for the minimum repayment and needs to pay off all outstanding balances. After receiving the repayment, the bank will automatically identify the cardholder's repayment amount. Once the repayment amount reaches the minimum repayment amount, interest will be calculated from that date. The minimum repayment amount is 10% of the current repayment amount. The above is related to the fact that the credit card suddenly cannot pay the minimum payment. Will paying the minimum balance on a credit card affect your credit score?

Paying the minimum balance on a credit card will not directly affect your personal credit score, but a certain amount of interest will be deducted. In addition, if the user always makes the minimum repayment, the bank will think that the user's repayment ability is relatively weak, and the credit card will not increase the fixed limit, or even reduce the limit. If the credit card only pays the minimum payment amount of the bill within the required repayment time, it will not affect your credit, because the minimum payment falls within the normal repayment range and will not be considered overdue. If the user fails to repay the loan on time, it will be overdue. The bank will report the overdue situation to the central bank's personal credit report, leaving a bad credit record in the user's personal credit report. How to repay the minimum repayment of a credit card

To repay the minimum repayment of a credit card, the user only needs to repay the minimum repayment amount directly on the repayment date, but the user is required to make Apply. The bank system will automatically assess the user's repayment amount. If the repayment amount is equivalent to the minimum repayment amount, the default setting is the minimum repayment amount. Generally the minimum repayment amount is 10% of the transaction amount plus the remaining balance due. Why does the minimum repayment amount of a credit card get higher the more you repay it

The reason why the minimum repayment amount of a credit card gets higher is because the user generates a new transaction amount in each period, a new The transaction amount and the amount to be repaid after the previous minimum repayment will be included in the current credit card bill at the same time, so that the current minimum repayment amount will be increased. Unless there is no new transaction amount after the user's minimum repayment, the minimum repayment amount will drop sharply. Credit cards need to be repaid on the next payment date after the minimum repayment. During this period, users can repay early. Early repayment can help reduce the minimum repayment interest. This article mainly writes about the knowledge points related to the sudden inability to pay the minimum payment on a credit card. The content is for reference only.