What should I do if my Guangfa credit card is overdue? Paying off the debt as soon as possible is the key

Overdue credit cards are a minefield that cardholders do not want to touch. In order to provide customers with more humane services, To prevent non-malicious overdue payments from spreading, major banks have also implemented "time tolerance" services. So what should I do if my Guangfa credit card expires? Regardless of whether there is a "time tolerance" service scope, paying off the debt as early as possible is a key step.

Guangfa Credit Card "Time Tolerance" Service

"Time Tolerance" Service: Guangfa Bank provides cardholders with a 3-day grace period for repayment. If the balance is paid in full within 3 days, it will be deemed to have been paid on time, no overdue record will be recorded, and no interest will be charged.

"Tolerance" service: If the cardholder fails to repay in full in the current period and the unpaid part in the account is less than or equal to 10 yuan, China Guangfa Bank will also consider that the cardholder has repaid in full and has not paid back the amount in full. The repaid amount is automatically transferred to the next bill.

It can be seen from the above that if the overdue credit card of Guangfa is within the "time tolerance" range, it does not constitute an overdue record of the credit card, and the cardholder does not have to worry about affecting his personal credit report.

What should I do if my Guangfa credit card is overdue?

Summary: What should I do if my Guangfa credit card is overdue? Cardholders should actively communicate with the bank and pay off the balance as soon as possible. You must not ignore it, otherwise long-term overdue payment will not only affect your credit report, but also incur large overdue interest.

What should I do if my Guangfa credit card is overdue?

The solutions to overdue debt are as follows:

1. Pay off the debt in time

Even if there is no situation mentioned above, you must pay off the debt in time and Explain to the bank staff that you did not overdue the payment maliciously. If your personal credit report was good before and there was nothing wrong, do not be careless after this and pay attention to the bank's billing information and collection information.

2. One thing to note here is that your credit record is not permanent. When you settle a loan, the credit stain will be automatically eliminated after five years from the settlement date.

How to appeal against the penalty of one day overdue on Guangfa Bank’s credit card

1.

First call the manual customer service of the credit card center and ask for an interest refund. The customer service will definitely explain the interest. How to deduct it? It is best to find loopholes in their service, such as no clear text message reminder for penalty interest, etc. In short, if you want to refund the interest and liquidated damages, the customer service will say that you need to apply to the above.

2.

After a few hours or the next day, each bank is different, and the customer service will call back to explain that their deduction of interest is reasonable. You have to continue to request an interest refund. Customer Service I will apply again.

3.

If you repeat this several times, the customer service will agree to refund the interest, but it is definitely not possible to refund the entire amount, only part of it.

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What should I do if my Guangfa credit card is overdue?

If the Guangfa credit card is overdue and temporarily unable to repay, it should negotiate with the bank to extend the repayment period or repay it in installments.

The total amount of overdue credit card payments has remained high. In order to weaken the impact of the epidemic, the central bank has issued a series of new policies to help debtors relieve debt pressure, which is a major benefit to debtors! In order to ease the repayment pressure of cardholders, the central bank will launch a second-generation credit reporting system in 2021. Along with this, there will also be new credit card regulations and new bank regulations on credit card repayments; the sentencing standards for credit card crimes have been increased, and overdue credit cards have become malicious overdrafts. In the new regulations, three conditions need to be met:

1. The cardholder intends to illegally possess the card.

2. Exceeding the prescribed limit or overdraft within the prescribed period.

3. The card-issuing bank fails to return the money for more than three months after two effective collections; once the cardholder is determined to have a malicious overdraft, he may be involved in the crime of malicious overdraft credit card and be sentenced and convicted.

Amount standards for malicious overdraft credit card crimes: Among the new regulations implemented in 2020, the amount standards for each level of malicious overdraft credit card crimes have been raised to five times the original amount standards. Specifically: an overdraft of more than 50,000 yuan is considered a large amount; an overdraft of more than 500,000 yuan is considered a huge amount; an overdraft of 5 million yuan is considered a particularly huge amount. In other words, only if you have an overdraft of more than RMB 50,000 will you be at risk of committing a crime!

1. Collection methods: In the new regulations, the collection methods after the credit card is overdue are standardized. Regulations require commercial banks to wait at least thirty days between two collections.

However, exceptions are made where the cardholder deliberately avoids collection.

2. Liquidated damages replace late payment fees: The charging standard is 5% of the unpaid portion below the minimum repayment amount. The advantage of liquidated damages is that it eliminates compound interest.

3. The minimum repayment amount may be less than 10%: The overdue repayment amount of a credit card is not necessarily 10%. After the new regulations, the minimum repayment amount may be less than 10%, or even lower. , it depends on the policies of each bank!

4. Credit card cash withdrawals will be included in the minimum payment: The new regulations stipulate that the amount of cash withdrawals in the current month will be included in the monthly bill, and the minimum payment must be paid off in one go, otherwise it will be overdue.

5. Interest-free for up to 60 months: According to Article 70 of the "Regulations on the Supervision and Administration of Credit Card Business of Commercial Banks" (hereinafter referred to as Article 70 of the Administrative Measures), under special circumstances, confirm the credit card If the amount owed exceeds the cardholder's repayment ability and the cardholder is still willing to repay, the card-issuing bank can negotiate with the cardholder on an equal footing to reach a personalized installment repayment agreement. The maximum term of a personalized installment agreement shall not exceed 5 years.

Personalized interest suspension installments, there are five major supporting policies to fully support debtor plans

1. Stop collection;

2. Stop the increase in interest and liquidated damages;

3. Stop the bank’s lawsuit;

4. Reduce or reduce the related interest and liquidated damages;

5. Negotiate personalized interest suspension installments, up to a maximum of 5 years and 60 months.

The best way after a credit card is overdue is definitely not to escape. On the contrary, you should actively respond. Even if you cannot repay the loan on time due to your own financial situation, you must find a way to solve the problem as soon as possible, especially after the credit card is overdue. , you must stop the interest and stop the loss in time, otherwise the long-term accumulation of debt will become a vicious cycle, and in the end you will never earn as much as you can repay!

Comprehensive recommendations: Banks with relevant policies: Shanghai Pudong Development Bank, China Merchants Bank, Industrial Bank, Transportation, Construction, Shanghai, Ping An, CITIC, GF, Industrial and Commercial Bank of China, Minsheng Bank of China, and Huaxia Bank. There are also necessary conditions for applying for interest-free installment: the cardholder has been overdue and is temporarily unable to repay the debt in one lump sum, and has the ability to repay the loan after the installment is successful before being accepted by the bank; these conditions are indispensable.

Guangfa Credit Card Overdue Negotiation Repayment Process

If the credit card is overdue, it can be reduced or reduced, and you can also negotiate for deferred repayment or installment repayment. You can call the credit card center yourself to explain your difficulties and express your intention to repay.

Users can call the customer service hotline of Guangfa Bank or go to any branch of Guangfa Bank for negotiation and explain their situation to the bank staff. Make it clear that you are temporarily unable to pay off the overdue amount, and ask if you can reduce or postpone the payment or repay it in installments. It is best to guarantee the specific amount you can repay each month and the specific time to pay off the debt.

After overdue repayment on Guangfa Credit Card, you must contact the bank promptly and indicate to the bank that you will repay immediately. If you do not have the ability to repay, you can apply for deferred repayment or installment repayment. Generally, banks will agree. When applying, try to tell all of your difficulties so that you can get the bank's understanding. If your credit card is overdue, you should contact the bank promptly to prevent your personal credit score from being bad due to overdue credit. If the overdue record is uploaded to the credit reporting center, the record will be kept for 5 years after the cardholder resolves the violation.

Therefore, overdue credit card repayments should be avoided as much as possible. When you are sure that you cannot repay the current bill on time, you can use installment repayment or the minimum repayment amount, which can reduce the repayment burden of the repayer without causing a bad credit report; however, use the above repayment methods You need to pay a certain handling fee, and you can pay it back in advance when you have the money later. Overdue credit cards are generally caused by excessive consumption by cardholders. At this time, in order to reduce the burden on cardholders, they must reduce consumption. At the same time, cardholders must find ways to increase their income, so that they can slowly pay off their overdue balances. Later, Just stop having overdue payments when using your credit card.

What should I do if my Guangfa credit card expires?

I suggest you not to overdue your credit card, because the consequences of an overdue credit card are very serious.

For those who use credit cards, the credit card itself has certain risks, and personal credit cannot be affected by the overdue credit card. I suggest you give priority to repayment, and it is best not to be overdue for a long time, because this will be suspected of malicious overdue, and it may also involve credit cards.

1. You need to repay the loan in time.

As I said above, the consequences of an overdue credit card are very serious, so you must face this problem squarely. I don’t know how much is overdue on your credit card, or how long you’ve been overdue. Generally speaking, if the user is overdue for more than 6 months and the overdue amount exceeds 10,000 yuan, it is very likely that the bank will be charged at this time, and credit cards will also be involved. Credit cards are criminally liable.

2. You can negotiate for installment repayment.

After your credit card is overdue, you can try to contact the staff of China Guangfa Bank, try to explain your actual situation clearly, and express your willingness to repay. The bank staff may not agree to your request for analysis at first. You can try to communicate several times and formulate a repayment strategy. After you and the bank have negotiated the repayment, you must implement it in accordance with the agreement between the two parties, and you must not be overdue again!

3. You can seek help from relatives and friends.

There are many dangers of overdrafting your credit card, so I won’t go into details here. Now that your GF credit card has expired, the most important thing you need to do is repay it on time. If you don’t have that much money on hand, you can try asking friends and relatives for help. The overdue amount of most users is not high, and you can completely use this amount by borrowing money. But no matter what, overdue credit cards are very serious and I don’t recommend that you run away from them. After this incident, I suggest you re-examine your consumption habits and stop doing things beyond your capabilities.

That’s it for the introduction of what to do if Guangfa Bank’s credit card is overdue.