Regarding the suspension of interest accrual on overdue credit cards: Under special circumstances, if it is confirmed that the amount of credit card debt exceeds the cardholder's repayment ability and the cardholder is still willing to repay, the card-issuing bank may contact the cardholder Negotiate equally and reach a personalized installment repayment agreement. The maximum period of this personalized installment agreement shall not exceed 5 years or 60 installments.

Legal Basis

Article 70 of the "Measures for the Supervision and Administration of Credit Card Business of Commercial Banks"

Under special circumstances, it is confirmed that the amount owed by a credit card exceeds If the cardholder has the ability to repay and the cardholder still has the willingness to repay, the card-issuing bank can negotiate with the cardholder on an equal footing to reach a personalized installment repayment agreement. The maximum period of a personalized installment agreement shall not exceed 5 years.

The contents of the personalized installment repayment agreement should at least include:

(1) Arrears balance, structure, currency;

(2) Repayment Period, method, currency, date and repayment amount of each period;

(3) Whether annual fees, interest and other fees will be charged during the repayment period;

(4) Holding The cardholder shall not apply for a credit card commitment from any bank before all amounts related to the personalized installment repayment agreement have been settled;

(5) Rights, obligations and liability for breach of contract of both parties;

If both parties reach an agreement and sign an installment repayment agreement, the card-issuing bank and its card-issuing business service agency shall stop collecting payments from the cardholder, unless the cardholder fails to fulfill the installment repayment agreement. If an oral repayment agreement is reached, the card-issuing bank must retain the recording materials. The recording data will be retained at least until the date of settlement of the debt.