Consequences of credit card default without repayment

1. Bad repayment records will be recorded in the personal credit information system, which will affect your handling of other businesses in the bank in the future, such as loans and mortgages.

2. default will always generate interest and late fees, and if the bank thinks you are in bad faith, it will sue in the name of credit card fraud, which is an economic crime.

According to the relevant provisions of the Criminal Law and the Interpretation of Several Issues Concerning the Specific Application of Laws in Criminal Cases Impairing Credit Card Management, it can be known that if the cardholder refuses to return it for more than three months after being collected twice by the issuing bank for the purpose of illegal possession, if the amount owed exceeds 1,, the bank will freeze your card and list you as a prohibited customer (blacklist), and at the same time, the public security organ will investigate your criminal responsibility for credit card fraud and malicious overdraft. The court will follow the Criminal Law No.19.

In addition, the Interpretation on Several Issues Concerning the Specific Application of Laws in Criminal Cases of Impairment of Credit Card Management lists six cases of malicious overdraft in combination with judicial practice:

1. A large number of overdrafts are made knowing that they have no repayment ability and cannot be returned;

2. The overdrawn funds are squandered and cannot be returned;

3. Hiding after overdraft, changing contact information and evading bank collection;

4. Withdrawing or transferring funds, concealing property and evading repayment;

5. using overdrawn funds for illegal and criminal activities;

6. Other illegal possession of funds and refusal to return them.

Extended information:

After a credit card is overdue, what banks usually do

1. Short message collection is mainly aimed at the early overdue repayment behavior of cardholders, which is usually 7 to 15 days overdue, and the short message mainly serves as a reminder.

2. Call collection, which is mainly aimed at the overdue behavior that is more than 3 days and more than one billing period, to remind repayment by phone.

3. Door-to-door collection, which is mainly aimed at overdue for more than 9 days. The bank will arrange the collection personnel to come to the cardholder's residence or work address to call for repayment.

4. court prosecution, mainly for overdue for more than half a year, the bank will apply to the court to demand that the cardholder be sued for repayment.

5. outsourcing collection, which is mainly aimed at overdue for more than one year. the bank will package the overdue funds and discount them to the outsourcing collection company to be responsible for the overdue debt collection.

Reference: Late repayment of credit cards-Baidu Encyclopedia