The interest is calculated at 0.05% from the entry date, and there is a late payment fee. It is best to pay off within the grace period of China Merchants Bank. If you exceed the grace period, if you have the ability, you will choose to repay in full, so there will be no charge, otherwise you will charge 0.05% interest per day plus a late fee.
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Consequences of overdue credit card:
1. Late payment for credit cards is required. When the cardholder fails to repay before the due repayment date (inclusive) or the repayment amount is lower than the minimum repayment amount, the cardholder shall pay the fees to the issuing bank according to the regulations.
2. 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. Credit card overdue repayment records will enter the central bank's credit information system to generate bad credit records.
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 file a lawsuit against the cardholder, 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. Those who engage in credit card activities with malicious overdraft shall be investigated for criminal responsibility for credit card crimes, 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.
If the credit card is overdue, it should be noted that there is a grace period of 1 to 3 days after the credit card is overdue. As long as the arrears are paid in time during this period, personal credit will not be affected. Of course, the specific time is subject to the announcement of each bank.
If the overdue time is more than three days, some online lending platforms will start to carry out strong collection, and generally frequent telephone and SMS collection will be carried out.
The record of overdue repayment of credit cards can only be completely eliminated after 5 years, but if the payment is made on time within 24 months, the previous bad credit record will be refreshed.
How much interest does a credit card have if it is overdue for one day?
Credit cards generally have an interest-free period of 30 days, and consumers will not charge interest as long as they pay off their debts during the interest-free period. If the consumer is overdue, the interest is generally calculated at the daily interest rate of 0.05%. If the overdue period exceeds 30 days, some banks will calculate the interest at the daily interest rate of 0. 1%.
If the consumer spends 10000 yuan overdue after using the credit card, the daily interest to be paid is 100000.05% = 5 yuan, and one month (calculated by 30 days) is 150 yuan. Generally speaking, the interest to be paid is very high, so it is recommended not to overdue it easily.
Take the credit card of China Merchants Bank as an example:
1. When the credit card bill is not repaid in full and on time, cyclic interest will be generated: interest will be calculated one by one according to each consumption in the bill, and it will be calculated at 0.05% per day from the consumption bookkeeping date (usually the second day of the consumption date) until the transaction is paid off.
The upper limit of the corresponding annualized interest rate is 18.25% and the lower limit is 12.775%. (Due to different months, different repayment conditions and other factors, the actual annualized interest rate may be different from the above annualized interest rate. )
2. Cash advances do not enjoy interest-free repayment. From the date of cash advance to the date of settlement, interest will be charged at the daily rate of 0.5 ‰, and compound interest will be charged monthly. The upper limit of the corresponding annualized interest rate is 18.25% and the lower limit is 12.775%.
(Due to different months, different repayment conditions and other factors, the actual annualized interest rate may be different from the above annualized interest rate. )
Precautions for credit card use:
1. Don't disclose personal information to others easily, including your ID number, bank code and other information, and don't give your bank card and credit card to others for use. If you have any questions and need to report the case, please go to the bank and other financial departments in person or report the case to the local public security organ. Don't call the police according to the phone number provided by the suspect.
2. Pay attention to the safe use of online banking. Install necessary anti-virus and anti-Trojan software and online banking security controls, confirm that you are logging in to the real bank website, do not easily receive strange files, and do not easily use other people's computers to log in to online banking.
3. Be vigilant when using self-service bank. At present, the door of self-service bank has been gradually transformed into a button-open type. When withdrawing money from the self-service bank, if you find suspicious equipment at the entrance and exit of the self-service bank or prompt "Confirm by password", don't swipe your card and enter the password, and report to the bank and the public security organ in time.
4. Pay attention to separate the card from the ID card. In life, many people put their ID cards and bank cards together. Once lost or stolen, the cardholder's funds are likely to be lost.
5. When swiping a credit card, confirm whether it is a UnionPay POS machine. After swiping the card, you have to sign the shopping statement. At the same time, we should also pay attention to whether there are duplicate problems to prevent the returned bank cards from being exchanged. In addition, the signature style should be as consistent as possible with the signature on the card.
How to calculate the overdue interest of credit card?
1. How to calculate the interest after the credit card is overdue?
If the credit card is overdue, the interest will be divided into two situations:
1. Generally, the overdue interest of bank credit cards is 0.5 ‰ per day, and the interest is charged at the rate of 0.5 ‰, and then the compound interest is calculated at the rate of 0.5 ‰ until the cardholder pays it off completely.
2. The overdue part shall bear interest in full and compound interest monthly until the cardholder pays it off. At present, the credit card is overdue, and the bank will pay the agreed interest according to the fact that the cardholder has not paid the minimum repayment amount for 5 months for more than 3 months.
Second, what should I do if my credit card is overdue?
1. Quick remedy for overdue credit cards
(1) If it is overdue, you should call the banking service immediately to explain that it is not malicious arrears, and make up the arrears in time.
(2) Under normal circumstances, banks will have a three-day grace period. Once the cardholder finds that the credit card is overdue, please deal with it immediately to avoid leaving a bad record.
2. How to deal with bad records?
(1) If the cardholder leaves a bad record in the bank, don't rush to cancel the card after paying off the arrears and explaining the situation. Once the card is cancelled, the personal credit record cannot be updated, and the bad record will always be recorded in the bank, causing serious consequences.
(2) The correct way is to continue to use this credit card and maintain a good credit record for at least 2 years, which will basically not affect personal mortgage, loan, credit card application and other businesses.
That's enough for the introduction of interest on overdue repayment of credit cards.