Late payment fees will be waived for credit cards that are overdue for two years. Since January 1, 2017, credit card late payment fees will be cancelled. For cardholders who default on overdue payments, the card issuer should reach an agreement with the cardholder. Agree on whether to charge liquidated damages and the relevant collection methods and standards.

Legal Basis

Article 22 of the "Bank Card Business Management Measures"

The card-issuing bank shall not repay the minimum repayment amount of the credit card holder If you use the card beyond the credit limit, you will be charged a late payment fee and an over-limit fee of 5% for the unpaid portion of the minimum repayment amount and the portion exceeding the credit limit.

Article 23

Compound interest will be charged on a credit card overdraft on a monthly basis, and simple interest will be charged on a quasi-credit card overdraft on a monthly basis. The overdraft interest rate is 5/10,000 of the daily interest rate. , and adjusted according to the interest rate adjustment of the People's Bank of China.