1. Whether installment payment is allowed depends on the bank’s decision.

2. After the credit card is overdue, the cardholder can contact the card-issuing bank and apply for extension or installment repayment. If the bank allows it, the cardholder can negotiate with the bank for a new payment. Just repay the loan on time according to the new repayment term and repayment plan. However, if the bank does not allow it, then it will not work. The cardholder will not be able to apply for bill installment after it is overdue.

3. If customers want to install installments on their bills, they must apply before the repayment date. They cannot apply after the repayment date. If you are applying for consumption installment, it should be done before the bill is issued on the day of payment.

4. Therefore, it is best for us to handle the bill installment in time before the repayment date, or pay the minimum repayment amount of the bill first, so as not to cause overdue payment and affect personal credit. You should know that penalty interest will continue to accrue after overdue payment until the cardholder pays it off, and the overdue record on the credit report must be retained for at least five years after the debt is paid off before it may be deleted.

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The consequences of an overdue credit card:

1. High penalty interest and liquidated damages will be incurred. Credit cards will not be charged as long as the payment is made before the repayment date. Interest, if you use a credit card to withdraw cash and overdue a large amount of consumption, not only interest will be generated, but there will also be penalty interest and liquidated damages. The penalty interest is 50,000 per day, and the amount of arrears is as high as 400,000. Penal interest will be charged during the four-year period. Liquidated damages are huge.

2. Being sued by the bank. Credit card arrears will eventually be sued by the bank. The overdue amount is 400,000 yuan. If you refuse to repay after repeated collections and you are able to repay, you may be suspected of malicious cashing out. , the ultimate consequence is jail time.

3. It affects your own credit report. Credit card is a business launched by banks. If you are overdue, you will be subject to your own credit report. Generally speaking, as long as it is overdue more than 6 times or one overdue period exceeds three months, it is considered a credit report. Users with serious overdue credit, as long as 4 years overdue, have been included in the credit blacklist. Later, they will be restricted from flying, high-speed rail, and applying for loans at banks.