The annual interest rate for overdue credit cards shall not exceed 24! Three tips to help you avoid being overdue!

With the popularity of credit cards, credit cards have indeed made our lives more and more convenient, but at the same time, the overdue problems they have caused have become more and more serious. Data show that in the first quarter of 2018, the total outstanding credit card credit that was overdue for six months had reached 100 million yuan. So, in the face of increasingly high overdue amounts, what are the new regulations? What should we do to avoid being overdue?

1. The annual interest rate for overdue credit cards shall not exceed 24

The excessive overdue fees caused by the high overdue amount make many people unable to pay back the money. Everyone should always Watch the news and see scary numbers such as "The annual interest rate for overdue credit cards reaches 78." In this regard, in order to avoid such high overdue annual interest rates, the "Regulations on Several Issues Concerning the Trial of Bank Card Civil Cases" issued by the Supreme Court on June 6, 2018 clearly stipulates: For the issue of overdue interest rates on credit cards, the Supreme Court shall refer to the private According to the relevant provisions of lending, the total amount of interest and penalties for liquidated damages exceeding the annual interest rate of 24 will not be supported! That is to say, even if everyone is overdue in the future, the maximum annual interest rate for overdue credit cards must not exceed 24, so that everyone's repayment pressure will be relatively reduced!

2. Tips to avoid overdue credit cards

Although there are new regulations on the maximum annual interest rate for overdue credit cards, if you can avoid overdue payments, you will not be troubled by overdue payments. . So, what should we do in our daily credit card consumption to avoid being overdue? Here are a few tips for you!

1. Repay with the minimum repayment amount

If you currently do not have enough money to repay the loan, you can choose to repay with the minimum repayment amount first, just on the repayment date Just pay off the minimum repayment amount. The minimum repayment amount of major banks is generally only 10% of the bill amount. This method is the first choice for emergencies for cardholders who cannot pay off their debts in the short term!

2. Activate the time tolerance service

Many banks now have time tolerance services for their credit cards. Some banks will directly activate this service for you, but some The bank needs to apply for activation by itself, so when you get a credit card, you must first consult customer service for confirmation. This service will still count as normal repayments for cardholders within a certain limit and within a certain period of time beyond the repayment date, and no late fees and penalty interest will be charged.

3. Have a plan for spending money in daily life

Of course, the most important thing is that everyone should be aware of it and consume rationally when using credit cards. In this way, you can control your consumption desires to a certain extent and avoid excessive card swiping, which may lead to overdue payments. Therefore, everyone must remember not to over-consume!

Procedure for cracking down on stolen credit cards

1. Report the loss. No matter how you discover that your credit card has been stolen, the first step is to call the bank's customer service number immediately to report the loss. In fact, reporting the loss is the most important, so that you can enjoy the lost card protection service launched by the bank.

2. Check the money at the ATM machine. After reporting the loss, you don’t need to replace the card first. Instead, you can go to the nearest ATM machine to find out your credit card balance. At the same time, this is also the most beneficial evidence to later prove that the card is with you and your location, because the bank can retrieve it. Your inquiry records and video can prove that you were not at the scene of the crime at that moment, and you also had the card with you.

If there is no bank or cash machine around you at the time, you can also find a nearby supermarket or convenience store, make a payment, and keep the receipt to prove that the card was indeed with you at the time.

3. Report the crime. Usually when you report a crime to an ordinary police station, they will not accept it and will pass the blame on each other. The card owner can report the crime directly to the police station of the card issuance center in the city where the card was applied for. If you do not know the area to which the card belongs, you can call customer service and ask him to provide you with the area. The purpose of reporting a case is to help you add evidence to the bank's chargeback application process and increase the possibility of a successful chargeback application.

4. Contact a lawyer immediately to minimize possible risks.

Don't worry that contacting a lawyer will take too much time. For a simple case, a lawyer can generally clarify the ins and outs within 5 minutes and give corresponding opinions.

5. Ask the bank to provide important documents. Find a location with a fax machine, use the fax machine phone to call customer service again, and ask customer service to help you fax two important documents. "Account Inquiry Statement" and "Additional Instructions for Non-Personal Transactions".

6. Repay the loan according to the agreed time. Many people will think that the money is stolen and does not belong to their own consumption; or they will not repay the money if they are dissatisfied with the bank's processing results, which will expand their losses to a certain extent.

Extended information:

Recently, the Yongxing Police Station of the Tianquan County Public Security Bureau successfully cracked a credit card case and captured the suspect Yang Mouhao (male, 12 years old, Tianquan) .

Recently, the Yongxing Police Station received a report from Zhou Mouming, a villager in Zhangjia Village, Renyi Township, Tianquan County, saying that 23,123.98 yuan in his credit card had been stolen. After investigation, it was found that Zhou Mouming's son Xiao Zhou was friends with the criminal suspect Yang Mouhao. Xiao Zhou borrowed Yang Mouhao's QQ account to bind a credit card and forgot to unbind it after using it.

On May 20, Yang Mouhao accidentally discovered this credit card bound to his QQ, which could be used for payment through QQ wallet, so Yang Mouhao paid for it between May 20 and June 3 , 88 QQ payments were used to purchase Honor of Kings, Clash of Clans skins, props, etc., with a total amount of 23,123.98 yuan stolen.

At present, because the criminal suspect is a minor, the police took him back to his family after being educated and criticized, and assisted Zhou Mouming in recovering the cash. On June 27, Zhou Mouming sent a banner to the police station with the slogan "Thunder Attack, Quick Case Solving".

More and more people are using credit cards. It is becoming more and more common for credit cards to be overdue and non-repayable. Some people are even imprisoned for improper use of credit cards. We often see credit cards The news about jail time is really not meant to scare you. Let me introduce to you some real cases of credit card jail time in 2018.

1. Credit card user Li used a credit card to overdraft 50,000 yuan and failed to repay the debt in accordance with the credit card regulations. He only repaid 200 yuan per month. The bank filed a lawsuit against credit card user Li with the Ninghua County Procuratorate of Fujian Province. public prosecution. It is believed that Li had the purpose of illegal possession and his behavior constituted a credit card crime. Therefore, Li was sentenced to eight months and one year of probation for the credit card crime and was fined 20,000 yuan.

2. Credit card user Shen Moumou stole a friend’s credit card, withdrew cash at an ATM machine, and swiped the card at the POS machine to cash out. He was arrested by the people of Tongzhou District, Nantong City. Because Shen Moumou fraudulently used other people’s credit cards, and involved The amount is relatively large, which constitutes a credit card crime. Therefore, Shen was sentenced and fined for the crime of credit card fraud. Shen will face three years, four years of probation, and a fine of 30,000 yuan.

Will the bank issue an overdue credit card

The use of credit cards is very common in life. If you use a credit card well, it will bring convenience to everyone’s life, but if you don’t use it well, it will cause long-term problems. Cardholders bring many negative consequences. According to regulations, if a credit card is overdue for more than three months, the credit card user may be fined by the bank. Generally, as long as the amount of credit card debt is not large, banks will not be easy on overdue users. Bank credit card users also have a process. Usually, after an overdue payment occurs, the bank will collect money from the user. If after two collections, the overdue bank still has not paid back the overdue payment, and it is overdue for more than 3 months, then the bank can charge the credit card user. , as long as the debt reaches more than 5,000 yuan and has not been repaid after being called by the bank, it can be regarded as a malicious overdraft by the cardholder. Overdue credit card users may go to jail, so everyone must have a good credit card.

U.S. credit card crisis: 50 million people have their credit card accounts closed or their limits reduced

Comprehensive reports from CBS and CNN: In the past 30 days, about one-quarter of Americans, about 50 million, the credit card limit was reduced, and many credit card accounts were even closed.

Giving umbrellas on sunny days and keeping them on rainy days has always been the golden rule of lending institutions. When people’s cash flow is tight due to unemployment, 4 million people have lost their housing loans, and more than 10 million people cannot pay rent. They are looking forward to using credit cards. As we weather the storm, U.S. credit card institutions have tightened lending limits.

The U.S. Federal Reserve (Fed) stated that total credit card debt nationwide is approximately $1.1 trillion and has been growing steadily since 2015.

Americans are a country supported by credit cards. On average, each American resident has two credit cards. Almost all life needs such as shopping, water and electricity, catering, and travel can be met through credit cards.

Too bad, so many Americans use credit cards to buy cars, houses or other valuable items through installments, and they only pay the minimum payment every month.

In other words, Americans’ consumption is all about overdraft and advanced consumption. They have very little cash in their hands, and they rely on so-called credit and borrowing to survive.

Once their credit card limit is limited or their account is closed, it will have an irreparable impact on the credit of ordinary Americans. This may interrupt the cash flow of ordinary Americans and affect their daily consumption such as food, clothing, housing and transportation. , it is more likely that their default will lead to a major credit card debt crisis similar to the '2008 subprime mortgage crisis'.

CBS Senior Business Analyst Jill Schlesinger said: In fact, before the new coronavirus, the number of people who were delinquent on their credit card payments reached a seven-year high, and many credit card accounts were in arrears for a long time. Cannot be paid in full. ”

Schultz added: Currently, there is no clear statistics on how much the credit card limit will be reduced, but it can also be estimated that each credit card will be reduced by thousands of dollars.

5,000 The news that tens of thousands of people have their credit card limits reduced has shocked the United States. This is similar to the fact that 350 million people in China have their mortgage limits reduced or canceled directly.

Why do some people become poorer as they use credit cards? And some people get richer the more they use credit cards?

Everyone must be familiar with credit cards. As of the end of 2020, the total number of credit cards issued in our country has exceeded 800 million, and the average number of credit cards held is 0.57.

Excluding some non-credit card specific customer groups, it is normal for young people to have several credit cards in their hands now.

One of the hot news about credit cards recently is that from now on, credit cards will be used. There is no upper or lower limit on the interest rate, which is completely decided by each commercial bank.

This is a positive signal. We all know that the original interest rate for credit card cash withdrawals and defaults is generally 0.5%, that is, If you pay 10,000 yuan a day, you will pay the bank 5 yuan, and the annualized interest rate is 18. But now it is different. A situation of differentiated pricing is taking shape, especially for the bank’s high-quality customers. We feel more confident when using credit cards.

The topic discussed with you today is also closely related to credit cards. I have always said that credit cards are a double-edged sword, and I have also seen many people suffer from using credit cards. There is no recovery.

There are wrong examples, and there are correct examples. Why do some people become poorer as they use their credit cards, while others become richer as they use their credit cards? We can learn from these aspects. How to do it.

Credit cards generally have a minimum interest-free period of 20 days and a maximum of 50 days, but many friends do not really enjoy the maximum 50-day interest-free period.

The main reason for this is that there is no reasonable planning for the credit card payment date.

The credit card payment date is to summarize all the consumption in the previous period and then inform the customer of the total consumption amount. Just pay the money back before the latest payment date.

Therefore, consumption on the second day of the payment date is the best day to enjoy the longest interest-free period.

Of course, we cannot accurately predict when we will need to consume, which is another matter. But we can set the monthly fixed expenses to be consumed on the second day of the billing date, such as monthly water, electricity, gas payments, property fees, etc., which is still a quite large expense.

Some friends are planning to renovate or buy a car. Naturally, it is best to choose the day after the payment date to swipe their credit card. Even if this part of the funds is placed in Yu'e Bao, it can be brought in in 50 days. A lot of benefits, why not do it!

In addition, after the bill is issued, friends should also prepare sufficient repayment funds in advance to avoid being in a hurry or even affecting their credit report due to insufficient funds on the final repayment day.

Every bank, more or less, will formulate various preferential activities in order to promote its own credit cards, and some activities can even be said to be free money.

For example, if we need to refuel every week, we can participate in activities to get full refueling or discounts; for example, if we occasionally go to the movies, we can buy 10 yuan to watch movies; or if we go out to eat out, we can get meal tickets with 50% off, etc. Wait, wait.

As long as we pay more attention and understand the public accounts or push notifications, we can always find activities that suit us. If we enjoy discounts on consumption that should be normal expenses, we will earn money if we save.

In addition to earning money, each credit card has points after consumption, and these points are also very useful.

When you have accumulated credit card points to a certain level, you can go to the points mall to redeem your favorite gifts.

I have been interested in the car vacuum cleaners in the points mall some time ago. The points are just enough. I originally wanted to buy one online, but now I can redeem it for free.

The products in the points mall are dazzling. There must be something you like or need. If you have a goal, accumulate more points quickly and redeem the products home as soon as possible.

Even if you don’t find the item you like in the end, the points can be redeemed for phone bills, recharge cards, airline miles, etc., all of which make us money.

Although each bank can now set its own prices and is not subject to the regulatory 5% rate, banks are still businesses in nature, and profitability is the fundamental purpose of banks.

If you have always had good credit and have only occasionally been overdue, the bank may still be lenient.

It is impossible not to charge late fees. It is estimated to be a 50% discount or something. If you give a 50% discount based on the annualized rate of 18, you still have to bear the interest of 9.

If you have always been a professional accountant in Madaha, then the late payment fee may be higher. Think about what loans now have an interest rate of 18%, which is equivalent to working with a bank when using a credit card.

So, friends who use credit cards on a daily basis must plan their funds well and never overdue.

If you don’t come here, you should call the bank in advance to make an installment payment and enjoy the discounted installment rate, which is much more cost-effective than paying late fees.

Moreover, being overdue will also lead to a poor credit record, which will affect your ability to handle other business in financial institutions in the future.

I have a friend who, because of his poor credit record, applied for a mortgage with an interest rate that was 10% higher than others. Calculated, the total payment over 30 years was over 100,000 yuan more than others.

Having said this, I think friends can check their own card usage habits, check for any deficiencies, make corrections in time, and learn how to make yourself richer with more credit card usage.

(Thank you for your attention, I look forward to your messages and discussions, I hope it can be helpful to you!)

Why do young people nowadays basically no longer apply for credit cards?

Because applying for a credit card may have the following disadvantages:

1. Cardholders develop bad consumption habits.

2. Some cardholders had good credit cards when they first started using them. However, because the credit card spends only the limit, the cardholder does not feel that he is paying back the money when he spends it, so that the user Expenses are getting bigger and bigger, and more and more credit cards are swiped. It is not until the repayment day comes that they realize that they have overspent. If credit card users stay in this consumption pattern for a long time, they will put greater repayment pressure on themselves. May become a card slave.

2. Credit card users usually do not pay attention to card security, resulting in financial losses

There are often news on the Internet about credit card theft. If the cardholder does not take good care of his or her credit card, , security code, password, then the card may be stolen and swiped, which will cause financial losses to the cardholder.

3. Personal credit is affected by overdue credit cards

After using a credit card for consumption, the user should repay the debt within the specified repayment period. If overdue behavior occurs accidentally, the bank will The user's overdue record will be uploaded to the central bank's credit reporting system, which will leave a stain on the cardholder's personal credit. If the personal credit rating is poor, later purchases of houses and cars may be affected.

Extended information

1. How to use credit cards correctly?

The correct usage of 1 credit card:

1. Decrease the limit appropriately. If the card issuance limit is not directly proportional to their salary income, it is recommended that the cardholder should reduce the limit. Monthly consumption should not exceed one-third of your income. The reason for the derating is that most graduates do not have the concept of rational consumption for the time being, and they have tasted the sweetness of premature overdraft consumption and easily become card slaves.

2. Set up a monthly credit card consumption budget. You can set a monthly budget for credit card spending to prevent overspending.

For office workers who have worked for less than 5 years, 3 credit cards are the best.

Office workers who have worked for less than 5 years have a stable income, a stable job, and a certain amount of savings in their hands, and are beginning to save funds for future purchases of real estate and vehicles. You can also purchase some luxury goods appropriately. At this time, it is best to hold 3 credit cards.

The correct usage of three credit cards:

1. Set up a credit card consumption budget. This section is aimed at office workers who plan to purchase real estate and vehicles in the future. Setting up a credit card consumption budget can help cardholders spend more rationally.

2. Set a repayment reminder. With 3 credit cards in hand, it is inevitable that you will forget the repayment time. It is recommended to set a repayment time for each card, and the time should be set 3 days before the final repayment date.

If you are an entrepreneur or executive with high income and high position, then please feel free to use it.

That’s it for the introduction of credit card news.