As long as you don't pay back the money within 20 days after the repayment date, even if it is overdue once, it will be more difficult to increase the quota. If it is overdue for three consecutive times or six times, it will have a bad credit record and will be blacklisted by the central bank. If the overdue period exceeds a certain amount and time, the bank will freeze the credit card.
For example, under normal circumstances, the credit card of China Everbright Bank will be frozen if it is overdue for two months, and it will be blacklisted if it is overdue for six months.
In fact, according to Article 6 of the Interpretation of the Supreme People's Court and the Supreme People's Procuratorate on Several Issues Concerning the Specific Application of Laws in Handling Criminal Cases of Impairment of Credit Card Management? If the cardholder overdraws beyond the prescribed limit or time limit for the purpose of illegal possession, and fails to return it for more than 3 months after being twice collected by the issuing bank, it shall be deemed as "malicious overdraft" as stipulated in Article 196 of the Criminal Law.
Extended data:
Credit card overdue repayment will face the following consequences:
1, credit card late fee. The so-called credit card late payment fee refers to the fee that the cardholder should pay to the issuing bank in accordance with the regulations when the repayment date is overdue or the repayment amount is lower than the minimum repayment amount.
2. Overdue interest. After users overdraw with credit cards, there is generally an interest-free repayment period ranging from more than 20 days to more than 50 days. If the cardholder's repayment is overdue, all the expenses of the cardholder last month will no longer enjoy the interest-free treatment of the bank, and the circulating daily interest rate is as high as five ten thousandths, that is, the annual interest rate reaches 18%.
3. Bad credit record. Credit card overdue repayment records will enter the central bank's credit information system to generate bad credit records. China's personal credit information records have been networked nationwide. As long as individual residents have handled loan business in banks, applied for credit cards, or provided guarantees for others, credit reports can be found in any domestic commercial bank.
4. Litigation costs. If the credit card is not repaid for more than 3 months, the bank will ask a lawyer to send a lawyer's letter to the user and bring a lawsuit to the court, and the litigation expenses will be borne by the cardholder.
5. Criminal responsibility for malicious overdraft. According to Article 196 of China's Criminal Law and relevant judicial interpretations, malicious overdraft refers to the behavior that the cardholder overdraws beyond the prescribed limit or time limit for the purpose of illegal possession, and refuses to return it after being urged by the issuing bank. Whoever commits credit card fraud with malicious overdraft shall be investigated for criminal responsibility for the crime of credit card fraud, sentenced to fixed-term imprisonment of not more than five years or criminal detention, and fined not less than 20,000 yuan but not more than 200,000 yuan.
The Supreme People's Court the Supreme People's Procuratorate on Handling Criminal Cases of Impairment of Credit Card Management
Baidu Encyclopedia-Measures for the Supervision and Administration of Credit Card Business of Commercial Banks