According to regulations, if a credit card holder cannot repay the minimum repayment amount for three consecutive months, the credit card issuing bank has the right to file a lawsuit in court. However, in reality, because the litigation process requires costs, the bank will usually contact the cardholder first to see if the credit card can be repaid. If the cardholder is malicious and wants to default, or has changed his contact information and cannot be contacted, When the credit card balance owed is relatively large, the card-issuing bank will usually prosecute the overdue credit card.

The consequences of defaulting on credit card repayments

1. Bad repayment records will be recorded in the personal credit system, which will affect your handling of other businesses at the bank in the future, such as loans. , mortgage.

2. Interest and late fees will not continue to accrue if you default, and if the bank thinks you are maliciously defaulting, you will be prosecuted in the name of credit card fraud, which is an economic crime.