What should I do if I can’t pay off my credit card?

What should I do if I can’t pay off my credit card? Now the editor will introduce it to you.

1. State your financial situation, affirm that you do not owe money maliciously, and apply for delayed repayment and interest discounts. What to do if you can't pay off your credit card? State your financial situation, declare that you don't owe money maliciously, and apply for delayed repayment and interest discounts.

2. In view of the cardholder’s active performance and previous good credit record, the bank will often agree to defer the repayment, and work with the cardholder to agree on a mutually acceptable repayment plan, delay period, and interest discount. , monthly repayment amount, etc.

If you take the initiative to contact the bank and get the bank's consent to defer the repayment, you will not be recorded as a bad record, but it should be noted that you will be guaranteed to repay as agreed in the future.

3. If you forget to repay due to negligence, you must repay the loan as soon as possible after it is overdue, preferably in full. Then call the bank's credit card center and declare that the debt is not malicious. If the record has been good in the past, and the overdue time is short, and it is found that the repayment after the overdue period is good, it may not be recorded as a bad record. Don't be careless in the future. Be sure to pay attention to the bank's bill notifications and collection information to avoid overdue payments.

4. Credit card repayment information will be recorded by the central bank's credit reporting system on a rolling basis for 24 months. That is to say, bad credit records caused by overdue credit card repayments will be kept in the credit reporting system for two years. If terminated with a card, the corresponding records will no longer

scroll, but will be saved for a long time. Therefore, after overdue repayment of a credit card, it is best not to cancel the credit card immediately after paying off the debt. Instead, you should insist on using the card for more than two years and keep your credit in good condition during the period. In this way, you can rely on rolling records to remove bad records from your credit report. Remove it from the system.

2. What will happen if the credit card is overdue for one month?

The bank will charge late payment fees and interest. The late payment fee is calculated as 5% of the unpaid portion of the minimum repayment amount. The specific calculation formula is: late payment fee = (Minimum repayment amount - Amount repaid as of the due payment date) × 5, with minimum and maximum limits. At the same time, the bank will also charge 0.05% interest on the credit card bill every day.

If the cardholder fails to repay the minimum repayment amount before the repayment due date (inclusive) on the bill notice of the current month, the account will be collected by the card center collector on the day after the next bill date. Carry out telephone collection; if the customer has not paid off the minimum repayment amount within the specified time, the system will automatically issue a collection letter or the collector will issue a collection letter based on the account's telephone collection status and actual arrears. If the following situations occur, the bank will come to collect the debt:

1. The collection through letters and phone calls is invalid and exceeds the last repayment date (overdue) for two cycles (60 days);

2. Unable to be contacted by phone or letter;

3. Higher risks may be found in letter collection or phone collection.

What's the matter with the credit card not being credited? These methods can solve it!

If you use a credit card, you must repay it on time. Generally, you can repay it by transferring money, depositing money in an ATM machine, etc. However, some people still can’t pay back the money with their credit card, and they will ask What's the matter with the credit card not being able to pay off the credit card? Today I'll analyze it with you to see what exactly is the reason why you can't repay the credit card.

What's the matter with the credit card not being credited?

There are two main reasons why the credit card is not credited. One is that the repayment card limit is not enough, and the other is that the repayment method is wrong. For example, if you repay by transfer, the bank card used for repayment must have enough money. If the money is not enough, you cannot pay it back. The specific repayment method will be determined according to the status of the card.

If the credit card status is normal, the two repayment methods mentioned above can be used. However, if your credit card is frozen or stopped, you cannot insert the card into an AMT machine to repay. However, you can transfer and repay by yourself through online banking, Alipay, WeChat and other channels, or you can ask others to help you repay.

If the money is still not paid, the biggest reason may be that the credit card has been written off internally, but the credit card debt is still there, but the cardholder himself cannot make repayment and must bring it with him With your valid ID and credit card, go to the counter of any branch of the card-issuing bank to handle the repayment, and ask the teller to transfer the money from your bank card or repay in cash.

The above is the relevant introduction to "What happens if the credit card is not credited with money?" In short, if you encounter a situation where the money cannot be credited to your credit card, you can solve the problem by referring to the methods introduced above. Don't think that you don't have to pay back the money if you have not credited it. You must know that the bank will not take the initiative to clear the account for you. As long as you don't pay it back for one day, you will be fine. The debt will remain there forever, and the cardholder's credit cannot be restored.

Why credit card repayments cannot be made

There are two main reasons for credit card repayments. One is that the repayment card limit is not enough, and the other is that the repayment method is wrong. For example, if you repay by transfer, the bank card used for repayment must have enough money. If the money is not enough, you cannot pay it back. The specific repayment method will be determined according to the status of the card.

If the credit card status is normal, the two repayment methods mentioned above can be used. However, if your credit card is frozen or stopped, you cannot insert the card into an AMT machine to repay. However, you can transfer and repay by yourself through online banking, Alipay, WeChat and other channels, or you can ask others to help you repay.

If the money is still not paid, the biggest reason may be that the credit card has been written off internally, but the credit card debt is still there, but the cardholder himself cannot make repayment and must bring it with him With your valid ID and credit card, go to the counter of any branch of the card-issuing bank to handle the repayment, and ask the teller to transfer the money from your bank card or repay in cash.

According to Article 7 of the "Regulations on the Supervision and Administration of Credit Card Business of Commercial Banks": A credit card refers to a credit card that records cardholder account information, has bank credit lines and overdraft functions, and provides cardholders with relevant banking services. All types of media.

Credit cards stipulated in the relevant laws of our country ("Interpretation of the Standing Committee of the National People's Congress on Relevant Credit Card Regulations") refer to credit cards issued by commercial banks or other financial institutions with the functions of consumption payment, credit loans, transfer settlement , cash deposit and withdrawal and other full or partial functions of the electronic payment card. On December 1, 2017, the "English Translation and Writing Standards in the Public Service Field" was officially implemented, stipulating that the standard English name of credit cards is CreditCard.

Credit card consumption is a non-cash transaction payment method. There is no need to pay cash when consumption, and repayment will be made on the billing date (BillingDate).

Credit cards are divided into credit cards and quasi-credit cards. Credit cards refer to credit cards in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; quasi-credit card It refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund as required. When the reserve account balance is insufficient to pay, the cardholder can overdraw within the prescribed credit limit. The so-called credit card generally refers to a credit card only.

Starting from January 1, 2021, the credit card overdraft interest rate will be determined independently by the card issuer and the cardholder through independent negotiation, and the upper and lower limit management of credit card overdraft interest rates will be cancelled. The daily interest rate is 0.7 times 5/10,000).

On May 25, 2021, the Supreme People’s Court issued and implemented the “Regulations of the Supreme People’s Court on Several Issues Concerning the Trial of Bank Card Civil Cases.”

What to do if you owe money on a credit card and still cannot pay it back

The solutions to the problem of owing money on a credit card that has not been paid for many years include:

1. Borrow money from relatives and friends to temporarily fill the gap If it is just a temporary situation, you will have enough funds soon; then you can borrow some money from relatives and friends, and then return it to them when the funds are available.

2. Apply for deferred repayment. When emergencies occur, such as illness, hospitalization, unemployment, etc., you can contact the bank’s customer service. Just tell customer service your true situation and then apply for a deferral of repayment.

3. Apply for interest-free installment repayment. When the situation is serious and repayment is relatively more difficult, you can contact the bank’s customer service. Provide relevant materials to apply for suspension of interest payments and repayment in installments.

4. Negotiate with the bank to reduce credit card debt. If negotiation fails, you can use judicial authorities to reduce credit card debt.

This is the introduction to how to pay off your credit card.