What does the credit card's last payment deadline mean?
It means that the balance owed on your account is delayed due to your failure to make normal payments after the repayment deadline on your credit card.
Will a credit report be filed if a credit card is overdue for four days?
A credit report will be filed if a credit card is overdue for four days.
Generally speaking, major banks will provide credit card holders with a 3-day grace period for repayment. If the card holder repays within three days of the due payment date, it is still considered as on-time repayment. If the payment exceeds the due date and is not repaid until the fourth day after the repayment date, it will be regarded as overdue repayment. The bank will report the cardholder's overdue record to the central bank's credit reporting system, resulting in a bad credit record. At the same time, the bank will also charge overdue interest at a daily interest rate of 0.05%, and compound interest will be calculated on a monthly basis until it is paid off.
Consequences of overdue:
1. Being blacklisted and recorded in bad credit files; affecting future loans and credit card applications; being unable to enjoy loan discounts.
The day after the loan is overdue, the lender's name will appear in the bank's internal system, and a bad record will inevitably be left on the credit report. If you have not paid for more than 3 months, it is very serious. The borrower will have a bad credit record on the Joint Credit Information Center, commonly known as "blacklisted", and may be retained for more than 3 years. As long as you are on the blacklist, your mortgage and car loans will be affected. Penalty interest is only a monetary loss, while a bad credit record is a loss of intangible assets, the impact of which cannot be compensated by money. If you have a mortgage loan, if there are many overdue repayment records in your past loan history, even if you are not on the blacklist, in addition to the penalty interest for late repayment of the mortgage loan, you may not be able to successfully obtain the preferential interest rate of the bank mortgage loan, or even be Say no to a new mortgage.
2. Penalty interest will be generated. Usually, when a loan is not paid off on the interest payment date, the bank will temporarily list it as a collection payment and call the borrower within 7 days to remind the borrower to pay. If the loan is made up within 7 days, the bank will not charge any late payment fees.
But if the payment is not made for more than 7 days, the bank will classify the loan as "collection" and "delayed payment", and you will have to pay late payment fees or penalty interest. Each lending institution has different penalties. For example, Citibank's penalty is an interest rate of 50% added to the original interest rate.
3. Unable to fly, high-speed rail, or drive a car, and their children cannot attend aristocratic schools.
Influence personal career. For persons subject to execution who refuse to implement judgments and rulings, once they are blacklisted, they will not be able to take flights or high-speed trains. Their children will not be able to attend high-end schools, and they will not be able to serve as the legal representative of a new company; there will be more in the future. Punishment can make life difficult. For students whose student loans are overdue for more than 90 consecutive days, the bank or school may publish the name, photo, ID number, and overdue information in the media, and may also notify the employer and the bank.
4. By the bank, executed.
Those who commit serious crimes will be punished by law until they are sentenced. If it is, property preservation measures will be taken based on the creditor's application, the deposits of the lender and loan guarantor will be frozen, and real estate, vehicles and other corresponding properties will be seized. After the judgment is made, it will be enforced in accordance with the law. If someone has the ability but refuses to execute a valid legal document, the person subject to execution will be subject to legal sanctions, including judicial detention until he or she bears criminal responsibility.
What does the credit card delay cycle m3-m7 mean?
Well, this so-called delay cycle is actually a classification method used by financial institutions in Hong Kong and Taiwan to classify overdue customer debts. The specific time is as follows: M1 - delay for 0 to 30 days, M2 - delay for 30 to 60 days, M3 - delay for 60 to 90 days, M4 - delay for 90 to 120 days, M5 - delay for 120 to 150 days days, M6 - delayed for 150 to 180 days, M7 - more than 180 days. After M6, it is regarded as bad debt and can be written off directly. The book is cleared without regulatory approval and written off. Both individuals and companies can apply for bankruptcy.
How to calculate the credit card delay rate
The delay rate is an internal risk management and control indicator of the bank and has nothing to do with late fees or anything like that. M4-M6/M0-M6.
Please tell me: How do you define the credit card delay time and the final delay time? Thank you
Credit cards have a fixed billing date every month.
In two Consumption between the bill dates will be recorded on the second bill date.
There is an interest-free period of N days after the bill date.
Within these N days, the bill date must be paid off. The balance does not calculate interest.
If it exceeds the interest-free period, it will be considered as a delay. If it exceeds the number of days, it will be how long it is, that is, the delay time;
The last delay time refers to the last time you were overdue. time, that is, the day when the interest-free period last passed;
For example, on my billing date on the 5th, there was a 20-day interest-free period, and I had not paid off the balance on August 25th.
As of September 25, the delay time is 30 days, and the final delay time is August 25
This is the end of the introduction to the definition of credit card delay and credit card delay rate. I don’t know what you got from it. Did you find the information you needed?