1. How to calculate the penalty due to credit card?

1. liquidated damages

the corresponding liquidated damages shall be charged at 5% of the unpaid part of the minimum repayment amount. if the cardholder fails to pay off the minimum repayment amount of the previous bill before the due repayment date (inclusive), the bank will charge the corresponding liquidated damages at 5% of the unpaid part of the minimum repayment amount according to the Articles of Association of Bank Credit Card, with a minimum charge of RMB 1 yuan or US dollar 1 yuan.

2. Interest

Interest is the so-called penalty interest, which is divided into full penalty interest and unpaid penalty interest. Simply put, it is not repaid within the time limit of the final repayment date.

3. Article 585 of the Civil Code

The parties may agree that when one party breaches the contract, it shall pay a certain amount of liquidated damages to the other party according to the situation of breach of contract, and may also agree on the calculation method of the amount of damages caused by breach of contract.

if the agreed liquidated damages are lower than the losses caused, the people's court or arbitration institution may increase them at the request of the parties; If the agreed liquidated damages are excessively higher than the losses caused, the people's court or arbitration institution may appropriately reduce them at the request of the parties.

if the parties agree to pay liquidated damages for delay in performance, the breaching party shall also perform the debt after paying the liquidated damages.

2. What will happen if the credit card is overdue?

1. If it is overdue, there will be not only a 5% late fee for the minimum unpaid part, but also a penalty interest for the full amount of the bill (the daily interest rate is five ten thousandths, and interest will start to accrue on the day of consumption. Compounding interest on a monthly basis until the principal and interest are paid off) will also produce bad credit records in the Credit Information Center of the People's Bank of China. It will be difficult to apply for credit cards and bank loans in five years.

2. If the payment is overdue for more than three months or the bank has made more than two reminders, the bank will freeze the card and list it as a prohibited customer (blacklist). At the same time, it will also prosecute credit card fraud and malicious overdraft, which will be enforced by the court.

3. After the credit card is suspended due to overdue repayment, you should first pay off the money as soon as possible (paying off the card in one lump sum will increase the probability of lifting the ban), then call the bank credit card center to apply for opening, and then wait for the credit card center to approve.

In real life, credit card issuers will take certain collection when credit card customers are overdue, for example, asking the other party to repay immediately. If there is no way to handle it by SMS or telephone collection, they can also bring a lawsuit to the local people's court. At this time, when filing a lawsuit, a civil complaint is required, and the other party is required to bear the responsibility for repayment and breach of contract.