If the payment is overdue, China Merchants Bank should negotiate with the bank as soon as possible to reach an agreement on suspending interest payments. The advantages of interest moratorium and credit standing are: no need for recovery, extension and penalty rate increases, no need for prosecution, and up to 60 installments to reduce repayment pressure. However, if the consequences of overdue payment are serious for the second time, the bank will require you to pay and repay the previous interest. The credit report for suspension of interest payments can only be resumed 5 years after the repayment is completed.

When negotiating with China Merchants Bank, you should pay attention to the following:

1. Overdue time. First, if your China Merchants Credit Card is overdue, if you can cover the debt with assets or running water, you should pay it as soon as possible or settle it as soon as possible within one month after the expiration date, so as not to affect your credit evaluation; second, if the debt is large and cannot be paid in the short term, Repayment should be negotiated within 1-3 months as much as possible, because China Merchants Bank's tax rate is relatively high, and most overdue payment interests cannot be reduced.

2. Negotiation priorities. Within one month after overdraft on a China Merchants Bank credit card, repayment SMS reminders will be sent regularly, but not too frequently. Under normal circumstances, after your credit card expires, you do not need to negotiate for repayment if you call customer service for the first time to register with Yuqianyanxing. Formal negotiations begin after the first billing date after the credit card expires.

3. Material preparation. Since you have decided to waive your credit check and gradually settle your debt, you should take care to collect and organize relevant data. If the reason for overdue is illness, job loss, family changes or business failure, it is best to have the appropriate certificates in hand. When you decide to pay off your debt gradually, the bank should look at your ability to repay, i.e. proof or source of income, and ideally calculate the monthly repayment amount accurately.

4. Communication skills. In fact, communication skills on online platforms are relative. Since the situation is different from others, the focus is also on communication. For example, you have more debt, which is also a breakthrough, or you have a good attitude and a strong willingness to repay. You receive many patient calls and let the bank know as much as possible about your current situation.

In addition, the main feature of China Merchants Bank’s personalized interest rate is that it cannot reduce liquidation losses and interest incurred before the negotiation is successful. Although China Merchants Bank has a very strict interest rate reduction policy, it does not mean that it cannot cut interest rates 100%.

If you have been overdue for a long time, you have incurred a lot of liquidated damages and interest. It is recommended that you try to negotiate with the bank several times, maybe you will get a better negotiation result. . By that time, China Merchants Bank will basically not be able to offer 60 installments. If the amount you owe is relatively large, for example, more than 50,000, the final negotiation result will be about 48 installments at most.

Finally, China Merchants Bank has lower requirements for the information provided. Many other banks must require cardholders to provide proof of hardship or poverty before requesting payment. However, China Merchants Bank generally only needs to submit a credit investigation report or a bank deposit certificate.

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