1. In case of high interest and late payment fees, and the credit card is not repaid, the cardholder will no longer enjoy the interest-free period of the credit card. From the date of consumption, the interest will be charged at a daily rate of five ten thousandths, and the compound interest will be calculated on a monthly basis. At the same time, if the credit card fails to repay in time after the interest-free period, the bank will charge the cardholder a late fee, accounting for 5% of the unpaid part of the minimum repayment amount, and the bank will charge the cardholder a higher penalty interest after a certain period of time.

2. Personal credit stain, once your credit record is stained, it is very difficult to apply for a credit card.

3. If the credit card is deactivated, the bank will think that the cardholder has a high risk of repayment due to repeated or long-term arrears, so it will stop using the credit card and recover the arrears from the cardholder. If the bank still fails to repay the credit card arrears, the bank may apply for auction of other fixed assets of the cardholder.

Legal basis: Measures for the Supervision and Administration of Credit Card Business of Commercial Banks

Article 57

The second paragraph

When the issuing bank receives the repayment from the cardholder, it will repay all the debts in its credit card account in the following order: if it is overdue for 1-90 days (inclusive), it will repay the interest or expenses first and then the principal; If the overdue period exceeds 9 1 day, the principal shall be repaid first, and then the interest or various expenses shall be repaid.

First, we can negotiate with financial institutions to extend the repayment period and reduce the monthly repayment amount.

When we are in loans overdue, we should take the initiative to communicate with financial institutions and fully communicate with them about our current shortage of funds. At the same time, we should also tell financial institutions that we are willing to repay, but at present, funds are relatively tight, and we should try our best to win the understanding and support of financial institutions. At the same time, we can propose to financial institutions to adjust the original repayment plan and extend the repayment period, so as to reduce the repayment amount of each installment, reduce our repayment pressure, and gradually repay the arrears of financial institutions by changing time for space.

Second, we should increase other sources of income and reduce unnecessary expenses.

After loans overdue, we must not give up on ourselves, but arm ourselves in more ways.

Starting from the current work situation, squeezing out spare time to do other jobs, thereby increasing income, is called open source. At the same time, we should actively reduce some unnecessary expenses and reduce the monthly cash expenditure, which is called throttling. By increasing our net income by increasing revenue and reducing expenditure, we can use net income to repay the debts of financial institutions.