1. What are the consequences of an overdue credit card?

1. Overdue credit cards will generate late payment fees and interest, which will affect personal credit;

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2. Affect personal credit. Once a credit card is overdue, the bank will upload the user's overdue record to the central bank's credit reporting system. If your personal credit has a bad record of overdue credit, then applying for a credit card will have a certain impact on later bank loans.

3. Collected by the bank. When a credit card is overdue, the bank will collect payment from the cardholder through text messages or phone calls. Various collections will affect the normal life of overdue credit card users. And if a credit card user is overdue for more than 3 months, the bank may also sue the cardholder.

4. The longer the overdue period, the higher the late payment fees and interest until all is paid off.

If you do not repay your credit card for the time being, you can immediately take the initiative to explain the actual situation to the local card-issuing bank, communicate with the bank, and negotiate repayment in installments or repayment according to the minimum repayment amount.

2. What should I do if my credit card is overdue?

1. If your credit card is seriously overdue, you must repay it as soon as possible, preferably in full. Call the bank's credit card center and declare that the debt is not malicious. If the overdue period is short, the bank may not include it in the bad record.

2. When a credit card is seriously overdue and unable to repay due to unemployment, illness, etc., the cardholder should proactively contact the bank’s credit card center to explain his or her financial situation and declare that the debt is not malicious. Apply for deferred repayment or installment payment.

There is a certain time limit for overdue credit cards. Generally no more than 3 days is no problem. If it exceeds 3 days, it will be credited, because banks usually provide a grace period of about 3 days, and as long as you pay it back, it will be fine.

In addition, two consecutive overdue payments will also be recorded in the credit reporting system. The credit card repayment grace period is a calendar day, not a working day. Currently, the repayment grace period provided by Bank of China, China Merchants Bank, Minsheng, China Everbright, Ping An, CITIC, Shanghai Pudong Development Bank, Industrial Bank, Hua Xia and other banks is 3 days. The grace period of China Construction Bank can be up to 5 days, and the grace period of Agricultural Bank of China ranges from 3 to 9 days, 3 days for ordinary card and gold card customers, and 9 days for platinum card customers. ICBC does not have a grace period, so you must be careful not to exceed the deadline.

3. What will happen if you pay off your credit card early?

Paying off your credit card early is not that bad. The bank itself supports early repayment. Credit cards also enjoy interest-free treatment. As long as they are repaid in full and on time before the repayment date (inclusive), no interest will accrue, and customers only need to repay the principal of consumption. Therefore, there is not much difference between choosing to repay in advance before the repayment date and repaying on the same day.

Of course, if the credit card bill contains an unpaid portion or the customer has cashed out the credit card, he or she will no longer be able to enjoy the interest-free period. In this case, if the customer repays the loan early, the interest to be paid will naturally be reduced.

Because the interest on the remaining unpaid portion/withdrawal portion of the previous bill is calculated until the day it is paid off. However, if you use a credit card installment bill to repay in advance, the remaining unpaid principal will be included in the next installment bill in one go. The customer must repay the entire remaining principal and installment fees before the due payment date (inclusive). Handling fees are non-refundable.

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