1. Credit card, also known as debit card, is a credit certificate issued by a commercial bank or credit card company to eligible consumers. It is a card with name, expiration date, number and cardholder's name printed on the front, and a magnetic stripe and signature strip on the back. Consumers with credit cards can go to specialized commercial service departments for shopping or spending, and then the bank will settle accounts with merchants and cardholders, and cardholders can overdraw within the prescribed limits. The credit card stipulated in the relevant laws of our country (Interpretation of the Provisions of NPC Standing Committee on Credit Cards) refers to the electronic payment card issued by commercial banks or other financial institutions with all or part of the functions of consumer payment, credit loan, transfer settlement, cash deposit and withdrawal, etc. The earliest credit card appeared at the end of 19. From 65438 to 1980s, the so-called credit card was developed in British clothing industry, followed by tourism and business departments. However, at that time, the card could only be used for short-term commercial credit, and the money had to be paid back as needed. There was no long-term default and no credit line.
2. Interest is the use fee of money in a certain period of time, which refers to the remuneration that the money holder (creditor) gets from the borrower (debtor) for lending money or monetary capital. Including deposit interest, loan interest and interest generated by various bonds. Under the capitalist system, the source of interest is the surplus value created by hired workers. The essence of interest is a special transformation form of surplus value and a part of profit.
3. Consequences of overdue credit card:
(1) overdue for 3-90 days: if it is overdue for one to two months, the bank will call you with a special collection phone to urge you to pay back the money as soon as possible, and call you every few days, but at this time, the attitude is still very mild, just to remind you;
(2) 90- 180 days overdue: the bank will send you a reminder letter and then call the contact person left when you apply for a credit card; If the overdue amount is high, someone may go to your residence or work place to make a dunning. This stage is generally entrusted by the bank to a third party. If the credit card is overdue for more than 90 days, the bank will not approve the loan or credit card within 5 years.
(3) Overdue for more than 180 days: the bank will send you a lawyer's letter, which will exert psychological pressure on you and create a feeling of "about to be sued". If the overdue amount is high, the probability of being sued by the bank is also great.