Credit card malicious overdraft: refers to the behavior that the cardholder overdraws beyond the prescribed limit or time limit for the purpose of illegal possession, and has not returned it for more than 3 months after repeated collection by the issuing bank.
Consequences of malicious overdraft of credit card:
The credit card is deactivated, resulting in a bad credit record and being listed as a prohibited customer by the bank, which will affect the credit card application and loan business in the future;
Late payment fee and interest: the late payment fee is generally 5% of the amount owed, and the interest is calculated at five ten thousandths per day;
Banks will sue for credit card fraud, and cardholders may face criminal punishment.