Failure to repay your credit card on time will result in negative consequences such as poor credit record, overdue interest, and late payment fees. The details are as follows:

1. Bad credit record resulting in personal credit report

If the credit card is not repaid on time, it will cause the credit card to be overdue. Overdue credit card users will affect the personal credit record. Bad records cannot be eliminated on their own. Generally, bad credit records are kept for five years, and previous bad credit records can only be replaced with good credit records in the future. At present, the basic database of personal credit information has been connected to the national network, and any domestic commercial bank can query personal credit reports. Bad credit records will affect cardholders' education, career choices, and loans.

2. Overdue interest will accrue

Generally, when a credit card is used normally, you can enjoy the interest-free period. The interest-free period generally ranges from more than 20 days to more than 50 days. If you make on-time repayments before the repayment date or even within the grace period and cannot pay off the overdraft fees, then all fees will no longer enjoy the bank's interest-free treatment, and overdue interest will accrue.

3. Overdue fees will be incurred at the same time

If the cardholder cannot repay on time before the repayment date, or cannot repay in full or with the minimum amount, the cardholder shall The cardholder has to pay a fee to the bank that issued the card, also known as a late fee.

Credit cards can be divided into the following two types according to different repayment methods:

1. Credit card

When the card-issuing bank provides bank credit, Use overdraft first, and then repay or pay in installments. Most of these cards are used internationally. That is to say, the way that cardholders are allowed to pay off their credit card accounts without deposits is "spend first, deposit later". Most of these cards are used internationally.

2. Quasi-credit card

It is a credit card issued by the bank that deposits first and then consumes. When applying for a credit card, cardholders need to deposit a certain amount of money in the card-issuing bank for backup. Cardholders need to use the deposit balance as a basis when using the card. Overdrafts are generally not allowed.