The consequences of an overdue ICBC credit card are:
1. A late payment fee will be incurred, which is generally 5% of the overdue amount.
Credit card late payment fees refer to a certain fee that the cardholder should pay to the Industrial and Commercial Bank of China when the cardholder fails to repay in full before the due date or the repayment amount is less than the repayment amount.
2. The overdue interest generated will generally be charged at a daily interest rate of 5/10,000.
After a cardholder uses a credit card to overdraft, there is generally an interest-free repayment period of up to 50 days. If the cardholder does not repay all overdraft fees within the specified period, then The cardholder will no longer enjoy ICBC's interest-free treatment for all previous charges, and the recurring daily interest rate will be as high as 0.5%, that is, the annual interest rate will reach 18%.
3. It may bring litigation costs
If the cardholder still fails to repay the overdraft after 2 months, ICBC will call to remind the cardholder to repay. If the payment is not repaid, ICBC will ask a lawyer to issue a lawyer's letter to the cardholder. If it is a malicious overdraft on a credit card and the overdraft is not returned after being collected by ICBC, it will constitute a crime of credit card fraud.
4. Bringing bad credit records
Overdue repayments on ICBC credit cards will be recorded in the credit reporting system of the People’s Bank of China. The basic database of personal credit information has been networked nationwide. Residents If an individual has handled loan business, applied for a credit card, provided guarantee for others, etc. at ICBC, his or her credit report can be found at any domestic commercial bank.
Classification of ICBC credit cards:
1. Peony International Credit Card is an international-level credit card product launched by the Industrial and Commercial Bank of China. International cards are used both at home and abroad, and are settled in RMB and a designated foreign currency. The Peony International Card adopts a revolving credit transaction method. For consumption overdrafts within the credit limit, if the payment is repaid in full before the due repayment date, you can enjoy the interest-free repayment discount. This card is accepted worldwide.
2. Peony Credit Card is a credit card issued by the Industrial and Commercial Bank of China that gives the cardholder a certain credit limit and the cardholder can consume within the credit limit and then repay. The credit card uses a revolving credit transaction method. For consumption overdrafts within the credit limit, if you repay in full before the due repayment date, you can enjoy interest-free repayment discounts. The Peony credit card can be used at UnionPay acceptance points in China, Hong Kong, China, Macau, Thailand, South Korea, Singapore and other countries. It is settled in RMB and has functions such as transfer settlement, cash deposits and withdrawals, and credit consumption.
3. Peony Credit Card is a credit card issued by the Industrial and Commercial Bank of China. It is a RMB credit card that can only be used within the territory of the People's Republic of China and the People's Republic of China. Settled in RMB, it has functions such as credit consumption, transfer settlement, cash deposits and withdrawals, etc. Peony credit cards are divided into business cards and personal cards according to different issuance objects; they are divided into gold cards and ordinary cards according to different credit levels.