1. What will happen if the credit card is not paid for more than five days?

If you forget to repay the credit card for 5 days, overdue interest will be generated, and the overdue record will also be uploaded. To the credit investigation. Some credit cards have a grace period of 1-3 days, so if you forget to repay for 5 days, the actual overdue period is only 2-4 days. At this time, the user must settle the debt as soon as possible, call the bank to indicate that he is not maliciously overdue, and issue a non-malicious overdue certificate after the credit card is settled.

Users’ overdue records need to be retained for 5 years before they are deleted. However, such overdue records with extremely short overdue days will not have a particularly large adverse impact on credit reporting as long as they are paid off in time.

2. What are the consequences of overdue credit card payments?

1. Credit card late payment fees will be incurred.

The so-called credit card late payment fee refers to the fee that the cardholder should pay to the card-issuing bank according to regulations when the cardholder fails to repay before the due payment date (inclusive) or the repayment amount is less than the minimum repayment amount. . Generally, a certain percentage of the amount payable is levied on each day that exceeds the specified period. According to administrative law theory, late payment fines are a type of execution penalty in administrative enforcement.

2. Overdue interest will be incurred.

After a user uses a credit card to overdraft, there is usually an interest-free repayment period ranging from more than 20 days to more than 50 days. As long as the cardholder does not pay off all overdraft fees within the specified period, then the All charges incurred by cardholders last month will no longer enjoy the interest-free treatment of the bank.

Currently, banks generally use the calculation of recurring interest in billing overdue credit card repayments. The calculation of recurring interest is based on the interest-bearing principal of each amount on the bill (including the consumption principal that does not enjoy the interest-free repayment period, the cash advance principal, and the interest paid), and the accounting date of the account It is the starting date of interest accrual and ends on the date when the account is paid off. Moreover, the recurring daily interest rate is as high as five ten thousandths, which means the annual interest rate reaches 18!

3. Incur litigation costs.

If the user does not repay the overdraft after 2 months, the bank will call the user to remind the user to repay. If the loan is not repaid, the bank will ask a lawyer to issue a lawyer's letter to the user.

4. Bad credit record.

Overdue repayments by credit card users will be recorded as bad credit records, and the basic database of personal credit information has been networked nationwide. As long as residents have handled loan business at banks, applied for credit cards, or provided services to others, If you pass a guarantee or other acts, you can check the credit report at any domestic commercial bank. Bad records will affect the cardholder's schooling, job selection, and loans.

There is only a grace period of 1 to 3 days for an overdue credit card. As long as this period is exceeded, high interest will be incurred. If the bank repeatedly collects debts to no avail, it will be harmful to you. It will have an impact on your credit report. Therefore, you must clearly remember the date of credit card repayment to avoid losses to your own interests due to overdue payments. If the situation is too serious, the borrower will be sued.