If the credit card fails to repay in full or refuses to repay when the repayment date expires, the following consequences will occur:
1, which becomes overdue first, resulting in late payment fees and interest, which is compounded monthly. After a period of overdue, the bank will make a dunning. Moreover, before the overdue records of credit cards are collected for repayment by banks, the banks have reported them to the credit information system of the People's Bank of China for the record.
2. After repeated collection by the bank, the credit card holder still fails to pay off in full or refuses to repay. When the late payment fee and interest of the credit card reach a certain amount, the bank will bring a lawsuit to the court for "credit card fraud". As soon as the bank sues, the court summons will be sent to the credit card holder's home or company soon. 3. Pay off all the credit card debts the day before going to court, without going to jail or paying a fine. At the time of the lawsuit, you haven't paid off all the credit card debts. The court will sentence the cardholder to fixed-term imprisonment and impose a fine according to the principal actually owed by the cardholder. Moreover, after the credit card holder is sentenced to prison, his credit report will become a permanent blacklist, and even after his sentence is released, he will never be able to apply for any credit card or loan.