Overdue credit card repayments do not mean repaying the principal first. The details are as follows:
1. Overdue credit card repayment refers to the failure to pay off the amount payable in the credit card bill on time. When overdue occurs, the bank will arrange repayments in a specific sequence. First, the unpaid bills will be paid off in order, and then the interest payable, handling fees, etc. in the bills will be paid off.
2. Specifically, the order of overdue credit card repayments is as follows:
a. Unbilled debts: for example, consumption and cash withdrawals incurred in the period before overdue Arrears, etc.;
b. Interest and fees in bills: Due to overdue repayment, interest, late fees, overdue fees and other fees will be incurred, and these fees also need to be paid off;
c. Principal repayment: Finally, the principal in the bill is paid off.
3. To sum up, overdue credit card repayments do not mean repaying the principal first. According to bank regulations, the order of overdue repayment is the unbilled balance first, then interest and fees, and finally the principal. This provision is intended to ensure that banks can recover outstanding amounts as quickly as possible and to impose penalties for overdue behavior.
Extended information:
Late payment on a credit card will have a negative impact on an individual's credit record and may result in further legal action by the bank. Therefore, it is very important to pay off your credit card bills on time. If you are unable to repay on time, you should contact the card-issuing bank as soon as possible to explain the situation and seek corresponding solutions, such as rearranging the repayment plan or applying for an extension of repayment.
The above is the answer based on common credit card repayment regulations. There may be slight differences if a specific bank is involved or there are special circumstances. Therefore, it is recommended to communicate with and understand the specific card-issuing bank based on personal circumstances and credit card terms.