1. Do parents need to repay their children’s credit card debt?

In civil disputes, whether children’s debts will involve their parents should be analyzed based on the specific circumstances. :

1. If the child is a minor, the parents, as the legal guardians of the minor child, must bear legal responsibility.

2. If the debt is formed after the child becomes an adult, and there is no situation in which the assets are transferred to the parents to avoid the debt, the child should bear the responsibility himself. The parents have no responsibility and will not be involved. to parents.

2. If a minor child applies for a credit card supplementary card, what will be the impact if it is overdue?

Children under 18 cannot apply for a credit card, but their parents and other immediate family members can apply for it for themselves. Apply for an additional card.

The supplementary card and the main card are in a subordinate relationship. The main card is dominant and can control the supplementary card. Although the supplementary card is named the supplementary cardholder, it is used only with the main card. an account.

To put it simply, the supplementary card is actually under the main card account, and has the same limit as the main card. Therefore, once the supplementary card expires, it will only affect the credit of the main cardholder, and there will be no issue of overdue credit cards for minors.

However, if a minor child owes money, the parents need to repay it. Just borrowing money from minors is illegal in many cases, so it requires a case-by-case analysis.

3. What to do if you are unable to repay your credit card

If you are unable to repay your credit card, the debtor can choose a repayment plan that suits him based on his actual situation.

1. Short-term inability to repay

If the debtor is unable to repay the debt in the short term, he can contact the bank customer service and apply for bill installment or deferred repayment.

Under normal circumstances, you can apply for a 3-24-month installment or a 1-3-month extension to temporarily alleviate your financial difficulties.

Of course, it is best to contact the bank before it is overdue, so that you can solve your debt problem and prevent your credit report from being affected.

2. Long-term repayment difficulties

If you have long-term repayment difficulties, you can contact the bank’s customer service to apply for an interest-rate suspension (the bank’s internal name is “personalized installment”). The maximum length of An installment of 60 months can greatly alleviate the debtor’s repayment pressure.

However, it should be noted that although the interest-free and debit policy can solve your repayment problem, stop bank collections, and avoid being sued by the bank, it will affect your credit score and you will not be able to pay off the debt until you pay off the debt. Get a mortgage, a car loan, or a new credit card.

Whether parents need to repay their children’s credit card balances depends on the specific circumstances. Generally speaking, if the child is a minor and owes a credit card debt, the parents need to repay the debt. But if the child is an adult, the parents do not need to pay back the debt for the child. No matter what, credit card balances need to be repaid.