Credit card write-off is a way to deal with non-performing assets, which is usually a spontaneous behavior of banks. It should be noted that if the arrears are not cancelled by the bank, the repayment obligation must be fulfilled after cancellation, and long-term non-repayment will still be recorded in the credit record. After the credit card is cancelled, the balance owed needs to be paid on time. Write-off means that the bank cancels the cardholder's qualification according to the cardholder's bad use record. It can be seen as a way for banks to deal with non-performing loans.

We can regard credit card write-off as a measure for banks to avoid risks. After all, if banks continue to lend money to these high-risk users, they need to take more risks.

What are the consequences of credit card cancellation?

The consequence of your credit card being cancelled is that you can't apply for it for years. Write-off is just a way for banks to track internal bad debts or bad debts. This does not mean that customers do not need to repay their debts, borrowers still need to fulfill their repayment obligations, and banks can still continue to recover due debts.