Users usually have an interest-free repayment period ranging from more than 20 days to more than 50 days after using credit cards. If the cardholder's repayment is overdue, then all the expenses of the cardholder last month will no longer enjoy the interest-free treatment of the bank.

And the daily interest rate of circulation is as high as five ten thousandths, that is, the annual interest rate reaches 18%. Credit card overdue penalty refers to the expenses that the cardholder should pay to the card issuing bank according to the regulations when the repayment date is overdue or the repayment amount is lower than the minimum repayment amount.

Extended data

Credit card overdue repayment records will enter the central bank's credit information system to generate bad credit records. China's personal credit information records have been networked nationwide. As long as individual residents have handled loan business in banks, applied for credit cards, or provided guarantees for others, credit reports can be found in any domestic commercial bank.

Once there is a bad credit record, it will be affected in the future when lending, from reducing the loan amount to raising the loan interest rate to directly refusing the loan. If the credit card fails to repay within the time limit, the bank can bring a lawsuit to the court, and the cardholder should not only bear the overdue principal and interest, but also bear the corresponding legal fees and litigation costs.

Jiangxi Court Network-Reasons, Consequences and Countermeasures of Credit Card Overdue