What is an overdue credit card?

An overdue credit card means that after using the credit card, the bank does not repay it within the specified date, which is called overdue. In addition, the bank will charge for overdue repayment. Interest is calculated from the date of consumption, not from the date after the final repayment date.

Compound interest is calculated on a monthly basis for overdue payments, and the principal for interest calculation is the total consumption amount of the month. Overdue information will be reported to the central bank’s credit reporting system.

1. After your credit card is overdue, if you receive a text message, email, or phone call from the bank. Cardholders need to explain the reasons for overdue repayment to the bank as soon as possible, and return the unpaid portion to the bank in a timely manner. This way, they can try to avoid leaving a bad record on their personal credit report.

2. If the credit card is not overdue for more than 3 months, but the bank or collection company always makes collection calls. In this case, if the bank has not frozen the credit card you are using, then you need to proactively contact the bank and express your willingness to continue repaying the loan, and repay the full amount if you can pay off the debt. If you don't have enough funds or can't pay off the full amount, tell the bank that you can repay it in installments, and then pay the balance back to the bank on time every month.

3. If your credit card is overdue for more than 3 months and the credit card has been frozen by the bank, your credit card debt will accrue interest every day. The editor recommends that card users never change their contact numbers, and contact the bank as soon as possible and explain their financial situation.

The main thing is to express to the bank that you are not maliciously defaulting, and tell the bank what is the reason for the overdue situation. And you should take the initiative to mention to the bank how long it will take to repay the loan, and agree on the repayment amount with the bank. At this time, you must tell the repayment amount you can afford, and repay the loan in a timely manner within the agreed time.

Card users need to be reminded that when the credit card debt has just been paid off, card users should not cancel the bank card. After about three months, the card user can actively apply to the bank to re-open the card, and then cancel the credit card after using the credit card for a period of time. Because after a credit card becomes overdue, if we cancel the credit card immediately after paying off the debt, the bad records due to the overdue credit card will be recorded.

However, the card user re-opens the card and uses the credit card for about two years, while maintaining a good credit score during the period of using the card. Then the bad records in the personal credit report will be eliminated due to the rolling consumption records, and if there are bad records, the retention time may be as long as about 5 years.

Why do credit cards become overdue even if they are paid on time? What should you pay attention to when repaying credit cards?

Credit card payment has become the main way people use for consumption transactions in their lives today. Many people will first use credit cards to overdraft consumption, and then repay the credit cards. When paying off your credit card, be sure to avoid overdue payments. However, sometimes it happens that a loan is overdue despite being repaid on time. So, why do credit card payments go overdue when paid on time? What should you pay attention to when repaying credit cards?

Why do credit cards become overdue even if they are paid on time?

1. Failure to pay the minimum repayment amount

If you repay your credit card on time, it will definitely not be overdue. The bank will stipulate the minimum payment amount for the month based on your monthly bill. Repayment amount: Only when your repayment amount reaches the minimum repayment amount stipulated by the bank, your credit card will not be considered overdue.

2. Use third-party platforms or inter-bank transfers to repay.

Many people now repay credit cards, and most of them use third-party repayment platforms or inter-bank transfers to repay. One disadvantage of these two methods of payment is that the arrival time cannot be determined.

So maybe you used these two methods to complete the repayment within the specified repayment period, but the payment time is after the repayment period, which will cause the credit card to become overdue.

3. Repayment during holidays

When we repay credit cards, we sometimes encounter holidays. If we repay credit cards during holidays, the arrival time is often It will be delayed. If the delay exceeds the repayment period, it will cause the credit card to become overdue.

What should you pay attention to when repaying credit cards?

1. Pay attention to the minimum monthly payment

Because the minimum payment of a credit card is based on the total amount of the current bill, the minimum monthly payment is Amounts may vary. Therefore, when you repay your credit card, you must pay attention to the statement sent by the bank to understand the amount you should repay this month and the minimum repayment amount, so as to avoid overdue credit card due to insufficient repayment.

2. Don’t pay off the loan on the last day

When some people pay off their credit cards, they always like to pay off the credit card on the last day. In this way, it is easy to get credit problems. This causes the credit card to expire. Therefore, when you repay your credit card, it is better to repay it a few days in advance to avoid overdue payment.

The above is the answer to "Why are credit card payments overdue even if they are paid on time? What aspects should be paid attention to when repaying credit cards?" If your credit card repayments are on time but overdue, you can see if it is caused by the above reasons. If not, it is best to call the bank to confirm the situation and avoid going to the credit bureau.

Why do credit card automatic repayments become overdue? It may be caused by these several reasons!

There are many ways to repay credit cards, including but not limited to online banking, third-party payment platforms, ATM machine repayments, etc. If you are afraid of forgetting the repayment time, you can activate the automatic repayment function of your credit card to repay the money. . However, automatic repayment of credit cards is not a panacea. Many cardholders said that they have clearly set up automatic repayment, but they still become overdue. So, what is going on? Let’s find out together.

1. How to set up automatic credit card repayment

Credit card automatic repayment needs to be bound to a debit card. You can do this through branch counters, online banking, mobile banking, or credit card customer service hotlines. Bind your debit card as the credit card's agreed repayment account through other channels, and the bank will automatically deduct the repayment amount from the debit card before the end of the final repayment date.

It should be noted that the debit card bound to automatic repayment must be a debit card in my own name and cannot be bound to someone else’s debit card. In addition, some banks stipulate that the debit card must be borrowed by the bank. Debit card, but some banks can bind debit cards from other banks. Before binding the card, be sure to understand the bank's automatic repayment regulations.

2. When will credit card automatic payment be deducted?

Each bank's credit card automatic deduction time is different, most of which are on the last repayment date or the next day.

For example, China Construction Bank automatically deducts money from the account on the day after the due repayment date, while Minsheng Bank deducts money from the account on the day after the due repayment date and the next day; Bank of Communications has a due payment date. There are two types of deductions: day-of-payment deductions and double-deductions. Deductions on the due payment date are deductions on the same day. Double deductions are deductions on the 7th day after the bill date. If the deduction fails, the payment will be made on the 7th day after the bill date. The payment will be deducted again on the same day.

It’s not clear at what point the payment will be deducted.

3. Why automatic credit card repayments are overdue

1. The balance in the savings card is not enough: there is not enough deducted money in the debit card bound to the repayment. In this way, there is no way to successfully deduct the payment, and it will naturally be overdue.

2. Exceeding the automatic repayment limit: The bound debit card is a debit card from the same bank and there is no repayment limit, but the bound debit card from another bank will have a limit for automatic repayment. Generally, there is a single repayment limit. If the repayment limit is exceeded, automatic repayment will not be possible.

3. Consumption and credit: Some bank cards are dual-currency cards. If you use the account to consume, it is credited. You cannot repay in RMB, and the cardholder needs to manually repay.

The above is the relevant introduction to "Why do automatic credit card repayments become overdue?" Generally, overdue automatic repayments are mostly caused by failed deductions, so everyone must pay attention to whether the deduction is successful. If the deduction is successful, If the payment fails, it is best to repay manually. It should be noted that most banks have a 3-day grace period. As long as your repayment time is within the grace period, it will not be overdue.

Why credit cards are overdue? Analysis of the causes of credit card overdue

In the process of using credit cards, cardholders often overdue their repayments, but they do not know the specific reasons for the overdue payments. In fact, there are many reasons for credit card overdue, many of which are not caused by the cardholder’s subjective reasons. Let’s learn about it together to avoid being caught again in the future.

1. Not understanding the temporary quota

Many friends will apply for a temporary quota when they spend a large amount and the quota is not enough. However, because they do not understand some rules of the temporary quota, For example, according to the repayment regulations, it was thought that the temporary amount could be repaid in installments or the minimum repayment, but it turned out that this was not the case.

You must know that the temporary limit of a credit card must be repaid in one go, and cannot be repaid in installments or the minimum amount. Therefore, if you do not prepare enough money and have no way to borrow money, you can only watch the overdue payment affect your personal credit. , and regretted that the temporary quota should not have been used in the first place.

2. Failure to repay the annual fee in time

Credit cards will involve an annual fee. In addition to platinum cards, most banks’ gold cards can be charged based on the number of card swipes. Annual fee waived.

If the cardholder swipes enough times within the specified time, the annual fee will be deducted. However, if the annual fee is deducted without knowing it, he does not pay attention to the bill after it comes out, and does not repay it at the end. If you pay off the deducted debt on the same day, it will naturally be overdue, and once it is overdue, it will affect your personal credit.

It should be reminded that the annual fee deduction time of each bank is not consistent. It is recommended that after receiving the credit card, call the credit card service hotline of the card issuer to inquire about the annual fee related matters of the credit card you hold.

3. Automatic repayment and deduction failed

Some cardholders are afraid of forgetting the repayment time, so they will activate the automatic repayment function with their debit cards. However, they do not know that automatic repayment of credit cards is also Risky.

If the balance of the associated debit card is insufficient on the final repayment date, causing the deduction to fail, you can only manually deposit money to the credit card to repay. However, if the automatic deduction fails and you don't know it, you don't repay in time, or you repay but it doesn't arrive in your account immediately, it will also be overdue.

So even if you use automatic repayment, it is best to check in advance whether the balance of the associated account is sufficient. If the balance is insufficient, you should deposit enough money as soon as possible to ensure successful repayment.

This is the end of the introduction to why credit cards are overdue.