I owe more than 40,000 to my credit card. How can I pay it off as soon as possible?

If you have a credit card debt and cannot pay it back, you can refer to the following methods:

Use the minimum repayment function

Each bank will have a minimum repayment amount Function, as long as you pay the minimum repayment amount, the bank will not charge late fees, nor will it affect your personal credit. Generally speaking, the minimum repayment amount is 10% of the total bill amount. For example, if you spent 10,000 yuan on your bill this month, The minimum repayment is only 1000010%=1000 yuan.

However, interest will be charged for repaying the minimum, which is 50% of the interest per day. Therefore, you only need to repay the minimum. Although the pressure will be reduced, compound interest will occur, which will be relatively troublesome, and you can only For temporary delay.

Use the installment function

If you are under repayment pressure, you can directly apply for bill installment. Generally, banks provide 3, 6, 9, 12, 18, and 24 installments. , you can choose the number of installments according to your repayment ability, which can alleviate the repayment pressure and will not affect your credit;

The disadvantage is that there will be handling fees, which vary from bank to bank, but generally Between 0.6%-0.8%.

Change the bill date to extend the repayment period

This is also what others call the 100-day interest-free period. Here is an example:

Mr. Li spent 10,000 yuan on his credit card due to demand, but he found that he could not pay it back at once, and he did not want to pay the minimum or installment, so he could first extend the time for the bill to be issued by changing the bill date to extend the repayment time. , assuming that his 1W will be billed on May 29, then Mr. Li can call the bank on May 28 to apply to change the billing date, which can be changed to 25 to 27, then there will be no bill in May. , this 1W will be billed from the 25th to the 27th of June, plus about 20 days of interest-free repayment period, this amount only needs to be repaid around the 18th of July; if that time If you still can't pay it back, you can still use the two methods mentioned above.

Note: The billing time cannot be changed casually. Generally speaking, it can be changed once every six months. Some banks change it once a year, and some banks can only change it once.

Repay by applying for a card or raising the limit

If you can apply for a card or raise the limit, you can also use the card to replace the card, but this method must be used well, otherwise The outcome is still the same, so the solution is to understand and be familiar with several functions of credit cards, and then implement these basic functions.

Proactively explain the situation to the bank for negotiation

If you are unable to repay for a period of time due to special circumstances such as work, you can proactively call the bank to explain the reason and prove that you are not refusing to repay maliciously. There is indeed a reason. Discuss whether you can delay the repayment. Never change your phone number and ignore the bank. This will destroy your personal credit unless you will never deal with the bank again.

You can choose the above methods according to your own situation. The fastest way is definitely to ask friends or family for help!

Borrow money

Find a good job, or borrow 50,000 from others, and you still have more than 10,000 [呲呲]

I owe more than 40,000 to my credit card Will I go to jail?

If it is a normal bank loan of 40,000 yuan, even if it is overdue, it is only a civil matter; if it is a credit card loan, if it is overdue, it will be still more than 3 months after the card-issuing bank has called for it twice. Anyone who fails to return the money shall be suspected of a credit card crime and shall be sentenced to 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 all the overdraft interest has been repaid after the public security organ files the case and before the people's judgment is pronounced, he may be given a lighter punishment. If the circumstances are minor, punishment may be exempted. If the malicious overdraft amount is relatively large and all the overdraft interest has been repaid before the public security organ files the case, and the circumstances are obviously minor, criminal liability may not be pursued in accordance with the law.

Legal basis:

Article 196 of the Criminal Law of the People's Republic of China and the People's Republic of China. Under any of the following circumstances, if the amount of credit card activity is relatively large, the person shall be punished. If the amount is huge or there are other serious circumstances, the sentence shall be not less than five years but not more than ten years, and a fine of not less than 50,000 yuan but not more than 500,000 yuan; If the circumstances are particularly serious or there are other particularly serious circumstances, the sentence shall be not less than 10 years or more, and a fine of not less than 50,000 yuan but not more than 500,000 yuan, or property confiscated:

(1) Using a counterfeit credit card, or using another Using false identity certificates to fraudulently obtain credit cards;

(2) Using invalid credit cards;

(3) Pretending to use other people’s credit cards;

( 4) Malicious overdraft.

The term "malicious overdraft" as mentioned in the preceding paragraph refers to the cardholder's behavior of overdrafting beyond the prescribed limit or within the prescribed period for the purpose of illegal possession and failing to return the card after being called upon by the card-issuing bank.

How much is the monthly interest on a credit card debt of 40,000 yuan?

Take a credit card loan of 40,000 yuan from China CITIC Bank as an example. After three years of repayment, the interest will be 10,944 yuan, and the one-year interest is 3,648 yuan means that an individual needs to repay principal and interest of ￥50,944, which should be paid off within 1*** three years (36 installments). Calculated, if the principal and interest are repaid in equal amounts in each installment, a monthly repayment of 1,415.11 yuan is required. , the actual annualized interest rate has reached 16.446%.

Using credit card transactions, there is generally an interest-free period of 20-50 days. If all outstanding balances are paid off within the interest-free period, no fees will be incurred.

For example: you make two purchases with your card on January 5th, one is 3,000 yuan, and the other is 7,000 yuan. When the bill is issued next month, your bill will show a total debt of 10,000 yuan. As long as you are in Pay it off in full before the repayment date, without any interest, just swipe the card for 10,000 and pay back 10,000.

However, interest (handling fees) will be charged in the following four situations.

The first method: Withdraw interest on cash

It is to withdraw cash directly from the ATM machine. This method will incur two fees, one is interest and the other is handling fee. The interest rate of all major banks is currently RMB 50,000/day, and the handling fees vary from bank to bank, generally ranging from 1% to 3%.

For example: If you withdraw 10,000 yuan in cash from an ATM machine and use it for 30 days, how much will it cost?

Interest: 5 yuan X 30 = 150 yuan

Total: 150,300 yuan

How much does it cost to pay back a credit card debt of 40,000 yuan overdue in one year

Credit card debt of 40,000 yuan overdue How much does it cost to pay back in 1 year? Hello, the general interest penalty for overdue credit cards is more than 20%, so the penalty should be about 50,000. It’s better to pay it back if you have the money, otherwise you’d be giving away 10,000 yuan to others for nothing.

If I owe 40,000 yuan on my credit card and still cannot pay it, will I go to jail?

In serious cases, it is possible. Overdue credit cards are very serious. If your credit card is overdue for more than three months (90 days) or if you have not repaid the bank's reminders more than twice: the bank will freeze your card and list you as a banned customer (blacklist), and will also remove your credit card and malicious overdraft. , enforced. If you later refuse to repay and the amount owed exceeds RMB 10,000, you will be sentenced according to Article 196 of the Criminal Law, Credit Card Crimes.

Legal basis:

Article 196 of the Criminal Law of the People's Republic of China and the People's Republic of China. Under any of the following circumstances, if the amount of credit card activity is relatively large, the person shall be punished. If the amount is huge or there are other serious circumstances, the sentence shall be not less than five years but not more than ten years, and a fine of not less than 50,000 yuan but not more than 500,000 yuan; If the circumstances are particularly serious or there are other particularly serious circumstances, the sentence shall be not less than 10 years or more, and a fine of not less than 50,000 yuan but not more than 500,000 yuan, or property confiscated:

(1) Using a counterfeit credit card, or using another Using false identity certificates to fraudulently obtain credit cards;

(2) Using invalid credit cards;

(3) Pretending to use other people’s credit cards;

( 4) Malicious overdraft.

The term "malicious overdraft" as mentioned in the preceding paragraph refers to the cardholder's behavior of overdrafting beyond the prescribed limit or within the prescribed period for the purpose of illegal possession and failing to return the card after being called upon by the card-issuing bank.

Anyone who uses credit cards concurrently shall be convicted and punished in accordance with the provisions of Article 264 of this Law.

That’s it for the introduction of owing 40,000 on a credit card.