Credit card holders all know the credit card late payment fee. Sometimes, when the funds are not so sufficient, the minimum repayment of the credit card is not paid, and only part of it can be paid first, which leads to the credit card late payment fee.

The late payment fee has been cancelled

The late payment fee for credit cards has been cancelled in the new credit card regulations of the central bank in 217, and no compound interest will be applied. Before that, najin was charged with compound interest on a monthly basis, and sometimes the late payment fee may only be tens of yuan. However, as the arrears become longer, the interest will snowball and even exceed the overdraft limit. Although the late payment fee is cancelled, it is replaced by a new penalty item, and the penalty fee will be collected in one lump sum, and will not be deducted in the form of compound interest, thus avoiding the phenomenon that the late payment fee is profitable before and reducing the cardholder's overdue fee burden.

Do you collect credit information on credit card late fees?

With the cancellation of credit card late fees, banks have also increased the service of allowing time to be overdue. Due to different bank policies and different minimum amounts, the generation of late fees will still affect the credit. After all, it is considered as overdue repayment, and every overdue repayment will leave a record in the credit information. With the cancellation of credit card late payment fee, we can avoid the problem of credit investigation because of worrying about late payment fee. But repayment on time is still necessary.