Overdue credit cards will produce bad credit records, which will affect personal credit and future credit business, such as loans, car loans, mortgages and other businesses. Overdue repayment will generate interest and late fees, and excessive arrears will generate high interest and late fees.
According to article 196 of the criminal law of People's Republic of China (PRC):
Whoever commits credit card fraud in any of the following circumstances, if the amount is relatively large, shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and shall also be fined not less than 20,000 yuan but not more than 200,000 yuan; If the amount is huge or there are other serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than five years but not more than ten years, and shall also be fined not less than 50,000 yuan but not more than 500,000 yuan; If the amount is especially huge or there are other especially serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than 10 years or life imprisonment, and shall also be fined not less than 50,000 yuan but not more than 500,000 yuan or confiscated property:
(1) Using a forged credit card, or using a credit card fraudulently obtained with a false identity certificate.
(2) using an invalid credit card
(3) fraudulently using another person's credit card.
(4) malicious overdraft. Malicious overdraft refers to the behavior that the cardholder overdraws beyond the prescribed limit or time limit for the purpose of illegal possession, and refuses to return it after being urged by the issuing bank.
Therefore, if the credit card debt is overdue for a long time and the bank fails to pay it back many times, the bank has the right to file a civil lawsuit. If the circumstances are serious and the amount is huge, it will become a criminal offence.