What are the consequences of not paying the annual fee on a credit card?

Failure to pay the annual fee on a credit card will also be regarded as an overdue credit card. Once it is overdue, an overdue record will be generated, which will affect your personal credit report. If you do not pay the annual fee, your credit card may be blocked, and it will be difficult to apply for a loan or credit card from the bank later.

If you are on the bank's blacklist because you have not paid the annual fee, you will lose more than you gain. Moreover, the annual fee can usually be waived if you make a few purchases with your card within the specified time. If you do not want to pay the annual fee, You can use the card payment method to waive the annual fee.

Credit card annual fee rules refer to some corresponding regulations for the annual payment of credit cards. Banks are not allowed to charge annual fees before the credit card is activated by the cardholder. However, in the face of the various annual fee rules for credit cards from different banks, most Most people have little idea about it. Most annual credit card fees are around one hundred yuan. Some banks stipulate that you can waive the annual fee by swiping three times a year.

Annual fee-free rules:

If you apply for a card and don’t use it, you will have to pay the annual fee, which is certainly not cost-effective. However, the annual fee-free rules vary among different banks, making it easy for cardholders to incur annual fees unintentionally.

Cardholders generally believe that credit card agencies adopt the practice of waiving the annual fee in the first year and waiving the annual fee in the following year if the card reaches a certain standard, but this is not the case for all cards.

For example, the ICBC credit card does not waive the annual fee in the first year. Instead, you need to swipe the card 5 times or spend more than 5,000 yuan in order to be exempted from the annual fee; CITIC Bank stipulates that the card is swiped in the first month after the card is issued. The first year annual fee can only be waived once.

As for the rules for exempting the annual fee for the following year, some banks stipulate that as long as the card is swiped more than three times, it will be free, such as China Construction Bank [6.203.85] and China Everbright Bank; some banks stipulate that the number of swipes is more For example, the Shenzhen Development Bank Credit Card stipulates that the annual fee for the following year can be waived by swiping the card 18 times. Most banks adopt the policy of waiving annual fees 5-6 times, such as ICBC, Agricultural Bank of China, Bank of China, Bank of Communications, China Merchants Bank, etc.

The annual fee policy of most banks has not changed. Generally, the annual fee for a standard credit card is about 100 yuan, while the annual fee for a gold card is generally 200 yuan or 300 yuan. The annual fee for a single-currency card is lower than that for a dual-currency card. The annual fee for supplementary cards is generally half the annual fee for the main card.

However, the annual fee standards for credit cards of various banks will vary depending on the card.

For example, the annual fee for the Shanghai Pudong Development Bank standard credit card is 180 yuan for the main card and 90 yuan for the additional card; the annual fee for the gold card is 360 yuan for the main card and 180 yuan for the additional card; and the annual fee for the Shanghai Pudong Development Bank Shanghai Airlines co-branded card is 360 yuan; as for the Shanghai Pudong Development McDull series of credit cards, it even shows the sign of “no annual fee for life”.

Therefore, even if credit cards are issued by the same credit card center, the annual fee standards will be very different. Cardholders should first ask how high this "potential cost" is when applying for a card.

What will happen if you don’t pay the annual fee on your credit card?

The consequences of not paying the annual fee on your credit card: Failure to pay the annual fee on your credit card will also be regarded as an overdue credit card. Once it is overdue, an overdue record will be generated. This will affect your personal credit score. If you do not pay the annual fee, your credit card may be frozen, and it will be difficult to apply for a loan or credit card from the bank later. If you are on the bank's blacklist because you have not paid the annual fee, you will lose more than you gain. Moreover, the annual fee can usually be waived if you make a few card purchases within the specified time. If you don't want to pay the annual fee, you can use the card to waive the annual fee. method.

1. Failure to pay the ICBC credit card annual fee will become an overdue account, which will affect your personal credit and even affect future loans, credit cards, study abroad, etc. Not only ICBC, but all banks have this requirement.

As long as your credit card is activated, there will be an annual fee, but if you swipe the card 5 times (regardless of the amount), the annual fee will be waived. It is recommended that you use it, after all, it is very convenient and will relieve your own stress. And this annual fee is not something you can just say not to pay. ICBC will directly deduct it from your credit card every year, and then form a debt. Over time, it will become overdue, and in serious cases, it will be blacklisted by the bank.

In this way, it will be impossible to apply for a house loan in the future, and it will take five years for the record to be cleared.

If you don’t want to use it, you can call 95588 and call a manual agent to cancel the credit card. However, if an annual fee has been incurred, you must pay it first and then cancel it.

2. The annual credit card fee refers to the fee that the cardholder pays to the bank during the use of the credit card. Generally, the annual credit card fee starts after the cardholder activates the credit card and is charged annually. Each bank has different annual fee policies and charges different amounts.

3. Annual fee of credit card

Different credit card levels have different annual fee charging standards; different card-issuing banks have different annual fees. Generally speaking, the annual fees for regular cards, gold cards, and platinum cards are: the annual fees for regular cards are 100-150 yuan; the annual fees for gold cards are 300-500 yuan; and the annual fees for platinum cards are often more than 1,000 yuan.

What are the consequences of not paying the annual credit card fee?

1. Impact on credit report:

The annual fee of the credit card will be included in the cardholder’s credit card bill. The cardholder needs to pay the annual fee and the current month’s payment before the repayment date. Pay off all consumer debts together. Therefore, if the cardholder fails to repay the loan in time, it will be considered overdue, which will affect the personal credit report.

2. Penalty interest:

Generally, the annual fee for a credit card is paid once a year. If the cardholder does not discover that the annual fee is overdue, the longer the arrears are, the higher the penalty will be. The interest rate will be higher. The annual fees for most credit cards are around a few dozen yuan, but if you are in arrears for a long time, the amount of penalty interest and principal will be relatively large.

Will paying annual credit card fees affect my mortgage loan?

Under normal circumstances, bank assessment standards are that there should be no three consecutive or six cumulative overdue situations within two years. However, banks have tightened their policies on home purchase loans, and the review standards are much stricter than before, so once If the cardholder's credit report is bad due to overdue annual fees, it will have a certain impact on the cardholder's mortgage application.

If this kind of situation occurs, it is recommended that you negotiate with the bank to reduce or reduce the annual interest. After the annual fee is settled, ask the bank to cancel the overdue record and restore the credit report. If it cannot be canceled, you can request a non-malicious certificate to prove that the overdue record is overdue. , the impact on mortgage loans will also be much smaller.

This ends the introduction on what will happen if the annual credit card fee is not paid and what will happen if the credit card is terminated if the annual fee is not paid. I wonder if you found the information you need?