If it is automatic, there is a three-day grace period. If you still cannot pay it off, you can call customer service first, and then repay the minimum payment, thereby avoiding the occurrence of default, causing bad credit and affecting your credit report. . Overdue credit cards are a big nuisance for people who use credit cards. It not only means that you need to pay interest and have your credit limit reduced, but it will also be recorded in your credit report and create a bad credit record, which will affect your civil service examination, political review, and the political review of your descendants.

Once a Weihai Commercial Bank credit card is overdue, it will generate a bad credit record, which will be retained in the credit report for five years and will be automatically eliminated after five years. In addition to the bad record, late payment fees and interest will also be incurred.

1. The late payment fee for an overdue credit card is: 5% of the minimum repayment amount that cannot be paid off.

2. Credit card overdue interest calculation formula: Credit card overdue interest = last month’s consumption * number of overdue days * 0.0005

There are three numbers in the above credit card overdue interest calculation formula, namely overdue interest Amount, number of overdue days and daily interest rate. The meanings of these three numbers are introduced below.

(1) Number of days overdue

Because credit card overdue interest is calculated on a daily basis, the number of days overdue on a credit card is also very important. The number of overdue days refers to the number of days from the billing date to the current billing date;

(2) Last month’s consumption amount

One thing that needs special attention is that the calculated amount for credit card overdue is not the amount owed , but the consumption amount last month. That is, if you spent 10,000 yuan last month, even if you have repaid 9,999 yuan, then if you owe 1 yuan, the overdue interest on your credit card will be calculated as if you owe 10,000 yuan. Therefore, try not to have an overdue credit card, otherwise, if the consumption amount last month was large, the basis for interest calculation will be too large;

(3) Daily interest rate

The daily interest rate for credit card overdue interest The interest rate is uniformly stipulated to be 5/10,000 per day, which is 0.0005.

Since Weihai Commercial Bank will produce bad records once it is overdue, all cardholders must pay attention to their credit and try to avoid overdue!