1. New regulations on overdue credit cards in 2021: Interest-free installments can be up to 60 months. Prior to this, interest-free installments were at least 20-50 days. After the new regulations are implemented, banks can adjust the interest-free period based on their own conditions and the actual conditions of cardholders. After the cardholders and the bank reach an agreement, the interest-free period will be extended. The installment can be up to 5 years, that is, up to 60 months;
2. New credit card overdue regulations in 2021 II: liquidated damages replace late fees. Before the new regulations, if a cardholder was overdue, late payment fees would be calculated from the date of overdue payment. In the new regulations, banks cannot charge late payment fees for overdue users, but liquidated damages. The fee is charged at a ratio of 5% lower than the minimum repayment amount. The advantage of liquidated damages is to prevent the occurrence of interest compounding;
3. New regulations on credit card overdue in 2021 III: Minimum repayment amount Flexible settings. The repayment amount of an overdraft credit card is no longer necessarily within 10. According to the new regulations, when users are unable to repay their bills, they can choose to have the minimum repayment amount no longer fixed, but can be decided through consultation with the bank. It can also be set flexibly according to the specific situation of bank users, depending on the bank's policies;
4. New regulations on credit card overdue in 2021 IV: The sentencing standards for credit cards are increased. Overdue credit cards may lead to criminal liability. If the cardholder uses the credit card maliciously, he may be prosecuted for credit card fraud. The sentencing standard will be increased from 10,000 yuan to 50,000 yuan (the principal amount of a single card, excluding penalties). 5. New regulations on overdue credit cards in 2021: Credit card cash withdrawals will be included in the minimum repayment. The new law stipulates that the monthly cash withdrawal amount will be included in the monthly bill, and the minimum repayment must be paid in one lump sum, otherwise it will be counted as overdue. If the user uses a credit card and has an overdraft, the interest rate range will be changed to 0.035-0.05...