Overdue credit cards may have some impact on subsequent loan business. However, if your credit card is overdue once and you have maintained good credit before, the impact will not be too great. You need to pay off overdue debts as soon as possible to minimize your impact.
What are the consequences if your credit card is overdue?
1. Reduce credibility. If you fail to repay your credit card debt when it expires, your credit will be reduced, which will have a great impact on your future applications for new cards and loans, and you may even be unable to apply for a loan.
2. Impact on work. If there is a malicious overdraft on the credit card and the repayment is not made in time, the bank has the right to apply to your workplace and mortgage your salary directly to the bank. This will have a certain impact on your work, so you still have to Pay off your loan as soon as possible.
3. Impact on the family. If your family has children who want to go to school, some schools have very strict requirements for students. Parents of students entering the school must have credit. If there is a problem with the parents' credit, it will affect their children's schooling. There is also an interview assessment for the university graduation job search. If your child passes the written examination, the interview will also assess the child and family members. If close family members have credit problems, it will affect their children's exams, so everyone must use credit cards carefully.
Credit cards, also called credit cards, are credit certificates issued by commercial banks or credit card companies to consumers with qualified credit. It takes the form of a card with the issuing bank's name, validity period, number, cardholder's name and other contents printed on the front, and a magnetic stripe and signature strip on the back. 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.
Credit cards stipulated in the relevant laws of our country ("Interpretation of the Standing Committee of the National People's Congress on Relevant Credit Card Regulations") refer to credit cards issued by commercial banks or other financial institutions with the functions of consumption payment, credit loans, transfer settlement , cash deposit and withdrawal and other full or partial functions of the electronic payment card. On December 1, 2017, the "English Translation and Writing Standards in the Public Service Field" was officially implemented, stipulating that the standard English name of credit cards is Credit Card.
Credit card consumption is a non-cash transaction payment method. There is no need to pay cash when consumption, and repayment will be made on the billing date.
Credit cards are divided into credit cards and quasi-credit cards. Credit cards refer to credit cards in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; quasi-credit card It refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund as required. When the reserve account balance is insufficient to pay, the cardholder can overdraw within the prescribed credit limit. The so-called credit card generally refers to a credit card only.
Starting from January 1, 2021, the credit card overdraft interest rate will be determined independently by the card issuer and the cardholder through independent negotiation, and the upper and lower limit management of credit card overdraft interest rates will be cancelled. The daily interest rate is 0.7 times 5/10,000).
On May 25, 2021, the Supreme People's Court issued and implemented the "Regulations of the Supreme People's Court on Several Issues in the Trial of Bank Card Civil Disputes".