With the implementation of the new policy of 20 17 credit card, liquidated damages have replaced late payment fees, but there is no difference between them in definition. Penalty interest on credit card refers to the fine charged by the central bank for the unpaid part of the minimum repayment amount when the actual repayment amount of the credit card is lower than the minimum repayment amount on the due repayment date of the credit card, and the charging standard is 5% of the unpaid part.

If the credit card of ABC held by cardholder Xiaobai is 2000 yuan, and only 100 yuan is paid on the final repayment date, then the minimum repayment amount in 200 yuan is 100 yuan, and the penalty is 100 yuan * 5% = 5 yuan.

If the repayment ability is really insufficient, even the minimum repayment amount is not enough, then, in order not to damage personal credit information, you can consider repayment by installments in 36 installments. Although you will bear a lot of handling fees, it is more cost-effective than collecting liquidated damages every month.

You can also consider negotiating with the bank in stages now. After all, the ultimate goal of the bank is to get the money back.