What should I do if the interest is too high after the credit card is overdue? Then apply for interest-free

cardholders who are using credit cards know that if they use credit cards normally, banks will not charge the interest of cardholders, and many banks have interest-free concessions for dozens of days. If the cardholder chooses to pay the bill in installments, it will generate certain interest, and similarly, it will be overdue. What if the interest is too high after the credit card is overdue? It is better to apply for interest-free repayment!

what should I do if the interest is too high after the credit card is overdue?

when the cardholder's credit card is overdue for a long time, resulting in a large amount of interest, which leads to the cardholder's repayment pressure, it is recommended that the cardholder negotiate interest-free repayment with the bank.

according to the new provisions of the civil code on overdue credit cards, cardholders can negotiate with banks to repay interest-free loans. The longest time for major banks to apply for interest-free repayment is 6 months, which is five years. However, it does not mean that all cardholders can negotiate with the bank for credit card repayment, which requires cardholders to meet certain conditions.

first of all, the cardholder needs to prove to the bank that he is not maliciously overdue and has no repayment ability at present. As long as the cardholder can prove it, the bank will waive part of the interest as appropriate, and even agree to negotiate repayment with the cardholder. Cardholders can also issue proof of their current serious illness and bankruptcy to the bank, and negotiate with the bank on an equal footing to reach a personalized installment repayment agreement.

to apply for interest-free repayment for five years, the cardholder needs to reach a personalized installment repayment agreement with the bank. If the bank refuses to negotiate with the cardholder and++the cardholder,++will also organize the cardholder to conduct a reconciliation communication with the bank.

The above is the related content sharing about "What should I do if the interest on my credit card is too high after it is overdue?" I hope I can help you!

Who should complain if the overdue interest of credit card is too high

After the credit card is overdue, no matter which bank's credit card is overdue, the penalty interest will be calculated at the daily interest rate of five ten thousandths for the overdue part from the day it is overdue, and then it will be calculated until the customer pays it off.

It can be seen that the overdue interest rate of credit cards is normal and not illegal. Customers naturally can't complain that the penalty interest charged by the bank is unreasonable. However, if the customer is overdue for a long time because of the large amount of money owed, he can take the initiative to call the card-issuing bank to negotiate and apply to the customer service staff for stopping the interest payment.

what is a creditcard

credit card (English: credit card), also known as credit card. It is a non-cash transaction payment method and a simple credit service.

Credit cards are generally special carrier plastic cards with consumer credit, which are 85.6mm long, 53.98mm wide and 1mm thick. It is issued by banks to individuals and units, whereby they can make purchases, spend money and deposit and withdraw cash from banks. The form is a card with the name of the issuing bank, expiration date, number and cardholder's name printed on the front, and a magnetic stripe and signature on the back.

Credit cards are issued to cardholders by banks or credit card companies according to users' creditworthiness and financial resources. Cardholders don't need to pay cash when they use credit cards, and they will make repayment on the billingdate.

On April 15th, 216, the central bank issued the Notice of the People's Bank of China on Matters Related to Credit Card Business, canceling the late payment fee for credit cards, introducing liquidated damages, and prohibiting the collection of over-limit fees. The new regulations came into effect on January 1st, 217.

Debit card is an ordinary savings card, and its account attribute is current deposit account, which can be used for consumption, atm deposit and withdrawal, etc. Credit cards can be used for consumption, atm deposit and withdrawal, etc. The biggest advantage is that they can be overdrawn (with a certain credit limit)

In general, bank cards are divided into credit cards and debit cards.

Credit cards are divided into credit cards and quasi-credit cards. Credit card refers to a credit card in which the issuing bank gives the cardholder a certain credit line, and the cardholder can spend first and then repay. Quasi-credit card refers to a credit card in which the cardholder first deposits a certain amount of reserve fund according to the requirements of the bank, and when the reserve fund is insufficient to pay, it can be overdrawn within the credit limit stipulated by the issuing bank.

debit cards are divided into transfer cards, special cards and stored-value cards according to different functions. Debit cards cannot be overdrawn. The transfer card has the functions of transfer, cash deposit and withdrawal and consumption. A special card is a debit card used in a specific area and for special purposes (referring to uses other than department stores, restaurants and entertainment industries). It has the functions of transferring money and depositing and withdrawing cash. Stored value card is a prepaid wallet debit card in which the bank transfers funds to the card for storage according to the cardholder's requirements, and directly deducts money from the card during the transaction.

what if the overdue interest on credit cards is too high?

if the credit card is returned within the normal time, it will enjoy the interest-free discount for dozens of days, so many people choose to pay by credit card when spending. When it is available, it is convenient and cost-effective. When it comes to repayment, there is no money, resulting in overdue credit cards and high interest. Most credit cards carry out full and cyclic interest calculation, and even if they are phased after the deadline, the actual interest is very high; At the same time, although the interest rate is high, it must be properly handled, otherwise it may not only be charged with late fees, penalty interest and other extra expenses, but also face credit reporting and++. The overdue interest on credit cards is too high. According to different situations, you can choose the following treatment methods:

1. Repay in time within the grace period. Don't think that the repayment date must be overdue without repayment. After the credit card is overdue, there is still a grace period of about three days. Being able to return the money during this time is still equivalent to repayment on schedule, and usually it will not be reported.

second, try your best to return the credit card overdue first. Different from other arrears, credit cards can not only receive credit information after they are overdue, but also may involve credit card++criminal offences if the amount is large. Therefore, after a credit card is overdue, you should try your best to raise funds and pay back the arrears on the credit card first.

third, apply for installment repayment. After the credit card is overdue, if the full amount of money is not paid in a short time, you can apply for installment repayment. The specific method can be self-service application through the bank ATM machine, or you can call the bank customer service phone and apply according to the voice prompt. In this way, the current repayment pressure can be alleviated, and although interest is also generated, if you act in advance, you will not be on the credit report.

fourth, take the initiative to call the bank customer service. Tell your current predicament, express your willingness to repay, and ask the bank for help. It's best to record the whole phone call. Although people think that this step is of little significance and few people do it, it's actually very important, because it can show that you are not maliciously overdrawn, so as to avoid being criminally punished later.

5. negotiate with credit card customers. The negotiation here includes many aspects, such as installment repayment, one-time repayment of principal, etc. In case of overdue due to objective irresistible reasons, you can also negotiate with the bank and ask for an extension of the repayment period.

Let's stop here for the introduction of excessive overdue interest on credit cards.