If the credit card is blocked and the money has not been repaid, it will have an impact on personal credit, lead to a bad credit record, and even be sued by the bank. The consequences of an overdue credit card are:

1. The late payment fee is calculated based on 5% of the unpaid portion of the minimum repayment amount, and the minimum charge is RMB 10 yuan or 1 US dollar.

2. At the same time, the bank will also charge Interest is charged at 0.05% per day on the entire bill.

3. If you are overdue within one month, it will be counted as overdue once. As long as you are overdue, even once, it will be difficult to increase the limit;

4. If you are overdue 3 times in a row or 6 times in total, If you have a bad credit record, it will be difficult to get a loan or apply for a credit card in the future;

5. If the credit card is overdue for a certain amount and time, the bank will freeze the credit card.

Extended information

1. A credit card is a credit certificate issued by a commercial bank or credit card company to consumers with qualified credit. Consumers holding credit cards can shop or consume at specially designated commercial service departments, and then the bank will settle the accounts with merchants and cardholders. Cardholders can overdraft within the prescribed limit.

2. Credit cards stipulated in the relevant laws of our country ("Interpretation of the Standing Committee of the National People's Congress on lt; Criminal Law of the People's Republic of China and the People's Republic of China; Relevant Credit Card Provisions") refers to credit cards issued by commercial banks or Electronic payment cards issued by other financial institutions with all or part of the functions of consumer payment, credit loans, transfer settlement, cash deposits and withdrawals, etc. [1-2]. On December 1, 2017, the "English Translation and Writing Standards in the Public Service Field" was officially implemented, stipulating that the standard English name of credit cards is Credit Card?[3]?.

3. Credit cards are generally special carrier plastic cards with a length of 85.60 mm, a width of 53.98 mm, and a thickness of 1 mm. The name of the card issuer, validity period, number, cardholder name and other contents are printed on the front, and the name of the cardholder is printed on the back. Chip, magnetic strip, signature strip. Cardholders can use their credit cards to shop and spend money with special entities and deposit and withdraw cash from banks.

There is no need to pay cash when using a credit card, and repayment will be made on the billing date.

4. Credit cards are divided into credit cards and quasi-credit cards. Credit cards refer to credit cards where the cardholder has a certain credit limit and can consume within the credit limit and then repay; quasi-credit cards A debit card refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve as required. When the reserve account balance is insufficient for payment, the card can be overdrafted within the specified credit limit. The so-called credit card generally refers to a credit card only.

Baidu Encyclopedia: Credit Card