Usually the credit card is overdue. No matter how many years you are overdue, the bank will not negotiate with you and tell you to only pay back the principal. If you need to negotiate and only repay the principal, the bank will require you to provide a lot of certification procedures. For example, prove your current income. Really not worth the money. And prove your family conditions. Home fixed assets. In short, this procedure is very troublesome.

Extended information:

A credit card, also known as a credit card, is a credit certificate issued by a commercial bank or credit card company to consumers with qualified credit. It takes the form of a card with the name of the issuing bank, validity period, number, cardholder name, etc. printed on it. There are magnetic strips and signature strips on the front and back. Consumers holding credit cards can go to specialized commercial service departments for shopping or consumption, and then the bank settles with the merchants and cardholders, and the cardholders can overdraw within the prescribed limit.

Credit cards are divided into credit cards and quasi-credit cards. A credit card refers to a credit card in which the cardholder has a certain credit limit and can consume within the credit limit before repaying; a quasi-credit card refers to a cardholder who deposits a certain amount of petty cash in accordance with regulations and pays when the petty cash account balance is insufficient. A quasi-credit card that can be overdrafted within a specified credit limit. Credit card generally refers to a credit card.

When using credit cards, some friends are unable to pay off their debts due to a disproportionate balance of income and expenditure, resulting in overdue payments. But some friends think that it doesn't matter if the credit card is overdue, but the credit report is bad. Anyway, they won't need a loan to buy a house or a car in the future, and they can delay it for as long as possible. Even if they sue, they can go on the run and not go to court. In fact, these ideas are wrong.

These three consequences of overdue credit cards are unacceptable to many people.

First, if it is overdue for a long time, it will become a black account. At this time, you will not be able to apply for any bank credit cards, loans, etc.

Second, overdue fines and interest are accumulating. Once a credit card expires, the interest-free period disappears and you must bear the corresponding penalty interest. Not only that, as the overdue period increases, overdue fines and interest will continue to accumulate, and will become more and more in the end.

Third, if you are in default for a long time, you will face corresponding legal liability if you are sued by the bank. If the bank determines it is a malicious overdraft or credit card fraud, you will be held criminally responsible according to law.

After the credit card is overdue, even if the bank does not take the initiative to collect, you should contact the bank quickly, explain the situation clearly as soon as possible, pay off the debt, and minimize the loss.