1. How many days is the grace period for Minsheng Credit Card?

The grace period of Minsheng Bank is three days. If the cardholder can repay the loan in full within three days, the grace period will be extended. If you repay within the time limit, Minsheng Bank will treat the cardholder as a timely repayment without charging any interest. If the unpaid portion of the user's account does not exceed 10 yuan or reaches the minimum repayment limit after the repayment date, Minsheng Bank will still treat the cardholder as repaying the card on time, and the unpaid amount will be automatically transferred to the next bill. However, if the user's repayment amount does not reach the minimum repayment amount, the cardholder will still be judged to be overdue.

2. What impact will the Minsheng credit card grace period have?

1. Impact on credit investigation. For credit cards without a repayment grace period, their overdue records will be uploaded to the website one day after they are overdue. The central bank’s credit reporting system will affect the user’s personal credit reporting. Once overdue records are uploaded to the credit reporting system, they also need to wait 5 years after overdue settlement before they can be automatically deleted. At the same time, this will create friction for users in handling other credit businesses in the future, and may even affect their spouse’s loan application.

2. Penalty interest will be generated, and corresponding penalty interest will be incurred if it is overdue. The bank will charge interest and liquidated damages. The interest rate is 50,000% per day, and the liquidated damages are 100% per month. Five. Some friends decide that liquidated damages should be charged on a monthly basis, as long as it is not overdue for one month, but in fact, liquidated damages will be charged even if it is overdue for one day, which is the same as liquidated damages for one month overdue.

3. What to do if the grace period of Minsheng Credit Card has expired

1. Repay the minimum repayment amount. As long as the cardholder can repay the minimum amount, the bank will not charge late payment fees, nor will Will affect personal credit. The minimum payment is 10% of the bill amount. However, it should be noted that if you choose the minimum repayment amount, although there will be no late payment fees and it will not affect your credit score, you will be charged an interest of 0.05 per day. Therefore, it is best for borrowers to pay off the remaining balance as soon as possible.

2. Actively negotiate with the bank. If the cardholder cannot even pay 10% of the minimum repayment amount, do not escape and make the bank unable to contact the cardholder. This is the worst way to handle it. It is best to actively communicate and negotiate with the bank to explain that you are indeed unable to pay off the debt. If it is overdue due to illness or natural disaster, you can submit proof to the bank and apply for suspension of interest rates.

In short, the above is all about the grace period of Minsheng Credit Card. Although the credit card has a grace period, if the grace period is stuck for a long time, the bank will doubt the cardholder's repayment ability. It is not conducive for cardholders to increase their credit card limit.

If you cannot find a suitable lawyer to help you if your debt is overdue, please click the consultation button below and we will arrange a professional lawyer to answer your questions.