Many cardholders have incurred huge debts due to excessive overdrafts on their credit cards. I heard that they can negotiate with the bank to suspend interest rates and sign a personalized repayment agreement, so that the bank will no longer collect debts and they will not be sued or punished for not being able to pay off their credit cards. However, suspending interest rates and hanging accounts is not really that good. It is best for all card holders to understand the disadvantages of suspending interest rates and hanging accounts on credit cards before considering whether to apply for it.

Analysis of the Consequences of Credit Card Interest Suspension and Suspension of Accounts Suspension of interest and suspension of accounts is generally used for bank loan business, but it also applies to credit card business, but it is slightly different. Suspension of interest in credit cards mainly means that the cardholder cannot repay the credit card debt on the final repayment date due to special circumstances, but the cardholder is willing to repay and can negotiate with the bank to sign a personalized repayment agreement, which can be divided into up to The repayment period is 5 years. Although no interest will accrue during this period, a portion of the principal and handling fees need to be repaid every month as stipulated in the agreement. After the suspension of accounts is processed, it will be displayed in the personal credit report.

Suspension of debt and overdue credit will have an impact on personal credit, which will produce a series of negative consequences. 1. Although you may not be overdue after the interest rate is suspended, you are still a dishonest customer in the eyes of the bank, and you will be rejected for credit cards, bank loans and other businesses. 2. Credit card limit increases will be rejected. In the same way, some banks will check your credit report for credit limit increase, that is, post-loan management. If your credit report shows interest-stopped debt, it shows your repayment ability. No, naturally the quota will not be raised easily, and the quota may even be reduced. 3. After suspending the interest rate and suspending the account, you must repay the loan on time as stipulated in the agreement. Otherwise, overdue payment will affect your credit report and be collected by the bank. The above is the relevant introduction to "What are the disadvantages to you if your credit card is suspended?" All in all, customers who apply for suspension of interest payments are all dishonest customers. They may be on the bank's blacklist, and may be refused all kinds of credit services related to banks and financial institutions.