In the new version of China Bank Card Industry Self-discipline Convention, the tolerance repayment mechanism is established for the first time, requiring the issuing bank to provide cardholders with more humanized card service on the premise of meeting the requirements of regulatory policies.

"Time-tolerant service" refers to the repayment grace period service with a certain period, and the repayment grace period is at least 3 days from the due repayment date; If the cardholder repays within the repayment grace period, it is deemed that the cardholder repays on time.

"Tolerance service" means that when the cardholder fails to repay in full in the current period, and the unpaid part in the account after the due repayment date is less than or equal to a certain amount (at least equivalent to RMB 10 yuan), it is deemed that the cardholder has repaid in full, and the unpaid amount will be automatically transferred to the next bill.

The new version of the Extended Information Self-discipline Convention has also made more specific provisions on banks in terms of information disclosure, requiring issuers to ensure that customers have full right to know and choose the interest, charging standards and related risks of banking business.

For example, it is necessary to clearly explain the interest-bearing rules in eye-catching fonts in the credit card application form, and provide calculation rules and simulation cases through publicity channels such as websites; At least 3 days before the due date of credit card repayment, the bank also needs to remind the cardholder to repay by bills, text messages, emails, telephone calls or letters.

The Banking Association said that after thorough research and discussion, the revision is in line with the current development status of the industry and will play a positive role in further strengthening industry self-discipline, standardizing market order and safeguarding cardholders' rights and interests.

Guo Tianyong, a professor at the Central University of Finance and Economics, said that the above-mentioned convention is a kind of industry self-discipline, which has a certain effect on improving the problem of "full penalty interest" that consumers have strongly reflected before, and also provides necessary room for banks to formulate more flexible credit card policies in the future.

He also said that although the above measures may affect the interest income of banks, it should be noted that the development of bank card business is not brought about by high penalty interest, and banks should focus on acquiring more customers and expanding the amount of cards issued by upgrading services.

People's Network-Credit card repayment will provide a grace period. You need to be reminded three days before the due repayment date.