First, one day overdue credit card repayment will trigger the interest calculation mechanism. After the credit card is overdue, the daily interest will be calculated according to the remaining unpaid amount and accumulated to the next billing cycle. This means that even if it is only one day overdue, there will be corresponding interest charges.
secondly, overdue repayment of credit cards will lead to a decline in credit rating. Once the credit record is damaged, it will have a negative impact on personal credit, which may affect future loans, credit card applications and house purchases.
in addition, overdue repayment of credit cards may trigger additional fines. According to the terms of the credit card contract, the bank can charge penalty interest or fine to the overdue repayment. These extra expenses will increase the repayment burden and personal financial burden.
to sum up, one day's overdue credit card repayment will result in interest charges, which may lead to credit rating degradation and additional fines. Users are advised to observe the repayment time of credit cards and make timely repayment to avoid unnecessary expenses and credit records.
Extended information:
According to the relevant laws and regulations of China, banks and credit card issuers can charge corresponding fines or interest for overdue repayment according to the contract. The standard of specific fines or interest and the definition of overdue days may be different for different banks or credit card products. Users should read the credit card contract carefully and understand the relevant terms, so as to plan and manage their personal finances reasonably.