No. Having an overdue credit card of $40,000 will not lead to jail time.
Details:
1. Overdue credit cards are civil disputes and usually do not involve criminal liability.
2. Even if the credit card is overdue for a long time or the debt is large, the debtor can still negotiate with the bank, arrange repayment or apply for installment payment, etc. to solve the problem.
3. Overdue credit cards may have a negative impact on an individual's credit record rather than directly leading to criminal penalties.
Summary:
An overdue credit card does not lead to jail time. Debtors should actively communicate with banks to resolve overdue issues as soon as possible to avoid adverse effects on personal credit records.
Extended information:
According to Chinese law, there are legal consequences for overdue credit cards, but these consequences mainly include economic losses such as liquidated damages, interest and overdue penalty interest, and are not criminal penalties. Creditors (such as banks) can pursue legal liability against debtors by filing lawsuits in court, but usually the main goal is financial compensation.