Bank of Communications provides a three-day grace period for Bank of Communications credit card holders, and repayment before 18: 00 on the afternoon of the third day of the final repayment date is regarded as timely repayment. Assuming that the final repayment date is the 20th of each month, the cardholder must pay off the bill by the evening of 23rd of that month 18: 00 at the latest. In addition, the credit card supports the minimum repayment during the grace period, and the minimum repayment is also regarded as timely repayment, which will not affect the credit history. However, the unpaid amount will no longer enjoy interest-free, which will generate certain interest expenses.
Grace period is also a time tolerance service provided by banks, some banks provide it and some banks (such as Industrial and Commercial Bank of China) do not. When the bank provides time-tolerance service, as long as the customer repays before the time-tolerance stipulated by the bank, he will repay on time. It will not affect the personal credit of customers, will not receive credit information, and will not generate expenses such as carp or late payment fees. However, the time allowed by each bank is different, usually three days, but there are also five days, depending on the regulations of major banks.
legal ground
Article 14 of the China Payment and Clearing Association's Self-discipline Convention on Bank Card Industry shall regulate the cooperation with outsourcing service agencies, strictly manage the business behavior of outsourcing service agencies, and prevent risks caused by poor management of outsourcing agencies.
Article 15 of the China Payment and Clearing Association's "Self-discipline Convention for Bank Card Industry" shall strengthen the legal compliance management of collection business, and shall not take improper collection behaviors such as violence, coercion, intimidation and abuse, establish a supporting appeal mechanism, and properly and timely handle disputes related to collection.