1. What are the legal provisions for credit card liquidated damages?

1. The legal provisions for credit card liquidated damages are as follows:

(1) Credit card payments are not repaid on schedule. After a breach of contract, issues related to the payment of liquidated damages belong to the loan contract relationship between the credit card holder, that is, the borrower, and the lending bank. The borrower shall repay the principal and interest according to the time limit stipulated in the loan contract;

(2) If the loan is not returned within the agreed time limit, overdue interest shall be paid in accordance with the agreement or relevant national regulations. The charging standard for bank credit card default penalties is generally 5% of the unpaid portion of the minimum repayment amount, and the charging method is a one-time charge.

2. Legal basis: Article 577 of the "People's Republic of China and Civil Code"

If one party fails to perform its contractual obligations or the performance of its contractual obligations does not comply with the agreement, The party shall bear the liability for breach of contract such as continuing to perform, taking remedial measures or compensating for losses.

Article 582

If the performance does not comply with the agreement, the parties shall bear liability for breach of contract in accordance with the agreement. If there is no agreement on the liability for breach of contract or the agreement is unclear, and it cannot be determined according to the provisions of Article 510 of this Law, the injured party may reasonably choose to request the other party to bear the responsibility for repair, rework, or replacement based on the nature of the subject matter and the magnitude of the loss. , returns, reduction of price or remuneration and other breach of contract liabilities.

2. Do credit card default penalties affect your credit report?

Credit card default penalties affect your credit score. The bank will charge liquidated damages only if the credit card payment is overdue. After a credit card is overdue, the bank will charge overdue penalty interest based on the number of days overdue. When paying off the debt, in addition to the amount of the bill, the overdue penalty interest must also be repaid. If the penalty interest is not paid off, the user will still be charged Overdue.