overdue interest on credit cards can be reduced or exempted. However, in the case of non-malicious overdraft but inability to repay on time due to unemployment, illness or other accidents, you can explain the situation to the bank in time and apply for interest reduction or exemption. Legal basis: Article 671 of the Civil Code of the People's Republic of China. If the lender fails to provide the loan on the agreed date and amount, thus causing losses to the borrower, it shall compensate for the losses. If the borrower fails to collect the loan according to the agreed date and amount, it shall pay interest according to the agreed date and amount. Article 667 A loan contract is a contract in which the borrower borrows money from the lender, repays the loan at maturity and pays interest.

Legal basis

Article 667 of the Civil Code of the People's Republic of China defines a loan contract as a contract in which the borrower borrows money from the lender, returns the loan at maturity and pays interest.

article 671 of the civil code of the people's Republic of China the consequences of the lender's failure to provide the loan as agreed and the borrower's failure to collect the loan as agreed. if the lender fails to provide the loan on the agreed date and amount, thus causing losses to the borrower, it shall compensate for the losses. If the borrower fails to collect the loan according to the agreed date and amount, it shall pay interest according to the agreed date and amount.