What should I do if my credit card doesn't pay back during the epidemic? Recently, affected by the epidemic, many enterprises have postponed the start of work. During the epidemic, some enterprises paid minimum wages to their employees. However, some enterprises closed down directly because of the worsening epidemic, resulting in many people losing their sources of income.
For many employees, income instability directly affects the timely repayment of mortgage, car loan, credit card and other loan products and services. So what if I can't return my credit card on time during the epidemic?
According to the notice of China Banking and Insurance Regulatory Commission, China:
For those who have temporarily lost their source of livelihood due to the epidemic, the credit policy will be appropriately tilted, and the repayment arrangements of personal credit such as housing mortgage and credit card will be flexibly adjusted, and the repayment period will be reasonably postponed.
In this way, if you can't repay on time temporarily, you can contact the bank in time and apply for deferred repayment.
At the same time, another bank said that if it is overdue due to special circumstances during the epidemic, it can also apply to the bank to explain the situation and submit materials after the epidemic, and the bank will adjust the overdue records on the credit report after verification.
The first method: communicate with the bank actively.
If the credit card can't be repaid in time, you can actively communicate with the customer service of the bank through the official telephone number of the bank and actively correct the relevant preferential policies, such as delaying repayment and so on.
The second method: borrow money from relatives and friends to tide over this difficulty.
This method is relatively simple. Borrow money from relatives and friends and pay off your credit card. This method is also a once and for all method, although it may affect our face. But because we paid off the credit card in time, it won't have any impact on our credit information.
The third method: repayment by installments, or repayment according to the minimum repayment amount.
What should I do if my credit card doesn't pay back during the epidemic? At present, there are three main repayment methods for credit cards:
The first method is full repayment, that is, after the bill is issued on a fixed date every month, we need to pay it off in one lump sum before the deadline. This repayment method requires a stable capital flow.
The second repayment method is installment repayment, which can be repaid in different periods after the bill is issued on the billing date. It should be noted that this repayment method needs to bear certain expenses.
The third repayment method is the minimum repayment method. When the bank issues the bill, we will see the minimum repayment. This repayment method also needs to bear certain interest.
If we can't repay the money in full, in order to avoid overdue, we can apply for the minimum repayment method and installment repayment by telephone, but this method requires a certain handling fee.
It should be noted that communication must be made before the repayment date.
Although this practice has to bear certain interest expenses, our credit information is still intact.
The fourth method: apply for deferred repayment.
If you can't repay the minimum repayment amount or installment repayment, you can call the bank customer service phone to apply for deferred repayment.
And at present, many banks have introduced relevant preferential policies. For example, ICBC, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications and many other banks have issued relevant policies, and they all have grace policies in credit card repayment business.
So to sum up, what if the credit card is unavailable during the epidemic? It's actually very easy to solve.
If you can't repay the credit card on time, don't worry too much, and actively communicate with the bank customer service. If we are really overdue for various unavoidable reasons, then we need to take the initiative to communicate with the bank and provide proof materials, which can also erase the overdue records.
It should be pointed out that the impact of this epidemic is multifaceted. In addition to our economic losses, our personal health has also been greatly affected.
It should be noted that recovery does not mean complete recovery. Some people may still have some sequelae or complications and need long-term rest, but we have no income during the rest period.
But if we arrange some insurance for ourselves or our families in advance, we can get good protection, such as critical illness insurance. As long as the symptoms meet the symptoms in the contract, you can get compensation, which can be used as rehabilitation expenses and living expenses during rehabilitation.
Someone died unfortunately because of the epidemic. If they are the backbone and main source of income, the whole family will fall apart. However, if they have life insurance, they can get some compensation for their death, which can guarantee the lives of their parents and children and not be helpless.
What if the credit card can't be paid because of the epidemic?
You can apply for deferred repayment. On June 26th, 2020, the Central Bank and China Banking Regulatory Commission issued the Notice on Strengthening Banking, Insurance and Financial Services and Doing a Good Job in Prevention and Control of Pneumonia Infection in novel coronavirus. Article 3 clearly puts forward that for those who have lost their livelihood due to the epidemic, the credit policy should be appropriately tilted, the repayment arrangements of personal credit such as housing mortgage loans and credit cards should be flexibly adjusted, and the repayment period should be reasonably postponed. Article 3 of the Notice on Strengthening Cooperation in Banking, Insurance and Financial Services to Prevent and Control Pneumonia Infection in novel coronavirus.
New regulations on overdue credit cards during the epidemic
A few days ago, the Notice of the China Banking Regulatory Commission particularly emphasized that for those who temporarily lost their livelihood due to the epidemic, the credit policy should be appropriately tilted, the repayment arrangements of personal credit such as housing mortgage and credit card should be flexibly adjusted, and the repayment period should be reasonably postponed.
Legal basis:
Measures for the administration of credit card business
Fifty-third card-issuing banks in any of the following circumstances, the people's Bank of China shall be ordered to correct, and impose a fine of 50 thousand yuan to 300 thousand yuan.
(1) Opening credit card business without approval;
(2) Issuing C cards or credit cards without approval.
Article 70 Any staff member of a special unit who participates in bank fraud and constitutes a crime shall be investigated for criminal responsibility according to law.
Article 71 Bank staff who collude with cardholders or special units to participate in fraudulent activities, which constitutes a crime, shall be investigated for criminal responsibility according to law.
What if the credit card can't be used these days?
If novel coronavirus can't go to work, don't worry too much. Because the Central Bank and the China Banking Regulatory Commission issued the Notice on Strengthening the Coordination of Banking, Insurance and Financial Services to Prevent and Control the novel coronavirus Epidemic on June 26th, 2020. So because of the epidemic, I can't work and I can't pay back my credit card on time. Don't worry too much that all banks will delay repayment and will not be included in the penalty interest or blacklist. The Criminal Law of People's Republic of China (PRC) stipulates: Article 196 Whoever engages in credit card activities 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 and fined not less than 50,000 yuan but not more than 500,000 yuan, or his property shall be confiscated: (1) using a forged credit card or using a credit card fraudulently obtained with false identification; (2) Using an invalid credit card; (3) Fraudulent use of another person's credit card; (4) malicious overdraft. The term "malicious overdraft" as mentioned in the preceding paragraph 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. Anyone who uses a credit card at the same time shall be convicted and punished in accordance with the provisions of Article 264 of this Law.
What if the credit card can't be used due to the epidemic? The solution is here.
Affected by the epidemic, many units delayed the resumption of work and delayed the payment of wages. Many cardholders' credit card repayment dates are coming soon, and they are worried that they will not be able to receive their wages in time and return their credit cards. So, in this case, what if the credit card is not available? Let's have a look.
What if the credit card can't be used due to the epidemic?
1. Application for deferred repayment:
Staff involved in epidemic prevention and control, hospitalized or isolated personnel infected with new pneumonia, or those who have temporarily lost their income sources due to the epidemic, can call the customer service phone of the issuing bank to see if they can apply for deferred repayment. If so, the overdue credit card during the epidemic period is not considered as a breach of contract and is not included in the personal credit overdue record.
2. Loan repayment:
Find friends and relatives, colleagues and others to borrow money to repay. When borrowing money, it is best to agree on the repayment period and give some interest. But during this period, everyone stays at home, and most people temporarily lose their source of income, so it will be difficult to borrow money.
3. The bill by stages:
You can appropriately alleviate the repayment pressure, but you should pay attention to the processing time. Most bank credit cards are processed by stages from the billing date of the credit card to the repayment date. Cardholders should choose the appropriate number of installments according to their repayment ability and installment interest rate.
4. Minimum repayment amount:
Generally, as long as 10% of the current bill amount is paid in full, it will not be overdue, but the remaining unpaid amount will no longer enjoy the interest-free period, with full interest from the date of consumption, with a daily interest rate of 0.5 ‰ and monthly compound interest. If you can't repay in full in a short period of time, you can choose this method, but it is limited to the consumption amount. If you withdraw cash, you can't pay the minimum repayment amount.
What should I do if my credit card doesn't pay back during the epidemic?
The outbreak of COVID-19 epidemic in 2020 disrupted people's work and life. All walks of life stopped production, and people were trapped at home and lost their income. This is a very headache for some friends who have loans and credit card arrears. What if the credit card is not returned during the epidemic?
In view of the special period of pneumonia prevention and control in COVID-19, China Banking and Insurance Regulatory Commission issued a notice on credit card repayment during the epidemic period on October 26th, 2020, requiring banks to give appropriate credit preferential policies to credit card holders who lost their income during the epidemic period. To put it simply, during the epidemic, banks should reasonably extend the repayment period for users who are unable to repay their credit cards, and the specific extension period should be determined by each bank.
At present, banks have different repayment policies for credit card holders during the epidemic. Generally speaking, the bank's policies are as follows:
1. During the epidemic prevention period, if the credit card holder fails to repay the loan, it will not be included in the scope of bad credit investigation;
2. Extend the repayment period. The extended repayment period of credit cards of different banks is different, 10 day, half a month, and the longest 1 month, subject to the regulations of the issuing bank;
3. Repay the minimum repayment amount, but charge interest on the current account, and then return the interest.
4. Give deferred repayment to the relevant personnel working in the epidemic prevention front line, and postpone repayment to the confirmed personnel and their spouses, suspected personnel and their spouses in COVID-19.
The above are the relevant regulations issued by banks for credit card holders who lost their income during the epidemic. If they are temporarily unable to repay due to the epidemic, they are advised to actively communicate with the bank. When the cardholder encounters repayment difficulties, he should take the initiative to contact the bank to show his willingness to repay, negotiate with the bank and actively strive for preferential policies from the bank. Because overdue credit cards will generate overdue fees and interest, it is best to borrow money from friends around you first, and then pay off the credit card debt slowly.
So much for the introduction of how to apply for a credit card before the epidemic period.