Common credit cards have liquidated damages because they fail to repay in time, and there is also a kind of prepayment by installments, as follows:

Credit card overdue.

Credit cards have a final repayment date, and some have a grace period of 1~3 days. For example, if there is no grace period, the repayment must be made before the deadline of the last repayment date, and if there is a grace period, it cannot exceed the last day at the latest, otherwise it will be overdue.

Repay in advance by installment.

Most of them are for cash installment or special amount installment, because there is an agreed repayment period when handling. Although prepayment is not overdue, it is also considered as liquidated damages, which reduces the installment fee that banks expect to charge. In order not to lose money, we will reduce the loss by collecting liquidated damages.