Total ***: 30000/10*5%*12=1800; penalty interest=30000*0.05%*365=5475;
If the credit card is overdue for more than 3 months, the bank will They will freeze your card, list you as a prohibited customer of the bank, and sue you for credit card fraud and malicious overdraft. If you refuse to repay, the court will impose a sentence based on Credit Card Fraud, Article 196 of the Criminal Law, so the bank will not let you repay after one year.
Liquidated damages are incurred, which are generally 5% of the unpaid portion of the minimum repayment amount. The interest rate is high, and the interest rate is compounded. The interest rate is very scary when the debt is large. Overdue credit records will be stained, resulting in financial needs such as house purchases and loans being unable to be processed within the next two years.
If the payment is overdue for more than 3 months, and the amount exceeds RMB 10,000, and the bank has failed to pay multiple reminders, you will not only have to pay back the money, but may also bear criminal liability.
Extended information:
Consequences of overdue payment
1. Liquidated damages are incurred, which are generally the minimum repayment amount and 5% of the unpaid portion.
2. The interest is high, and the interest is compounded. The interest rate is very scary when the debt is large.
3. Overdue credit records will be stained, resulting in the inability to handle financial needs such as house purchases and loans within the next two years.
4. If the payment is overdue for more than 3 months, and the amount exceeds RMB 10,000, and the bank has failed to pay multiple reminders, you will not only have to bear the repayment, but may also bear criminal liability.
A credit card is a credit certificate issued by a commercial bank or credit card company to consumers with qualified credit. Consumers holding credit cards can shop or consume at specially designated commercial service departments, and then the bank will settle the accounts with merchants and cardholders. Cardholders can overdraft within the prescribed limit.
Reference materials: Credit card default-Baidu Encyclopedia? Criminal law credit card fraud-Baidu Encyclopedia