The due repayment date refers to the latest date when the credit card issuing bank requires the cardholder to repay the payable amount. In other words, after the issuing bank issues the bill, you should pay off all the expenses you have consumed before the due repayment date.
The due repayment date is also called the final repayment date. If you don't pay in full before the due repayment date, and you don't choose the minimum repayment amount of the credit card, you may face the following penalties:
1. All consumption funds will no longer enjoy interest-free repayment, and the bank will calculate interest on a daily basis with the consumption amount as the principal from the date of consumption, with a daily interest rate of 0.5 ‰ and compound interest on a monthly basis;
2. Receive phone calls and letters from banks;
3. Freeze your account, feed back your arrears record to the People's Bank of China and record it in your credit file, which will affect your personal credit;
If you really don't have enough money to repay in full on the due date, please choose the minimum repayment amount of the credit card. If you repay in this way, you only need to return 10% of the total cost each time, so that although there is no interest-free repayment period, you can avoid personal credit damage.
Extended data:
According to the Measures for the Supervision and Administration of Credit Card Business of Commercial Banks:
Article 57 The issuing bank shall clearly stipulate in the credit card collection contract (agreement) the specific operation process of repaying credit card loans with the relevant assets of the cardholder, and shall not directly offset the credit card receivables with the assets of the cardholder without the authorization of the cardholder. Unless otherwise stipulated by national laws and regulations.
When the issuing bank receives the repayment from the cardholder, it will repay all the debts in its credit card account in the following order: if it is overdue for 1-90 days (inclusive), it will repay the interest or expenses first and then the principal; If the overdue period exceeds 9 1 day, the principal shall be repaid first, and then the interest or various expenses shall be repaid.
Article 58 Card issuing banks must verify passwords or credit card verification codes when providing credit card inquiry and payment services through self-service channels. If it is really impossible to verify the password or credit card verification code, the issuing bank shall determine the information verification rules of self-service channel credit card service according to the transaction type, risk nature and risk characteristics to ensure the safety of card use.
Article 59 The issuing bank shall provide 24-hour loss reporting service, promptly accept the cardholder's application for loss reporting through business outlets, customer service telephones or electronic banks, and take corresponding risk control measures.
Article 60 A card-issuing bank shall provide information inquiry service, and publicize credit card products and services, instructions for use, articles of association, contracts (agreements), charging items and standards, risk warnings and other information to cardholders through bank websites, card manuals, electronic banking and other channels.
Article 61 An issuing bank shall provide reconciliation services. The statement should at least include the transaction date, transaction amount, transaction currency, name or code of the transaction merchant, repayment amount in the current period, minimum repayment amount in the current period, due repayment date, matters needing attention, service telephone number of the issuing bank and other elements. The specific form of reconciliation service shall be agreed by the issuing bank and the cardholder.
When the issuing bank provides the cardholder with service vouchers such as statements, it shall partially block the credit card number and shall not display the complete card number information. Except for the business vouchers printed by the bank counter for business.
Article 62 Card-issuing banks shall provide complaint handling services, establish a unified and efficient complaint handling process according to the characteristics and complexity of credit card products (services), clarify the administrative departments for complaint handling, and make public the complaint handling channels.
Article 63 The issuing bank shall provide card replacement service for credit cards when they expire, and replace cards for cardholders who meet the conditions for card replacement when they expire. Unless the cardholder proposes not to renew the card, change the card or cancel the account when it expires.
The issuing bank shall not provide card replacement service for the credit card account that the cardholder has not activated within the validity period of the credit card.
Article 64 The issuing bank shall provide credit card account cancellation service, and cancel the account for the cardholder in time after confirming that there is no outstanding amount in the credit card account. When the credit card is cancelled, the balance of the business procurement card account should be transferred back to its corresponding unit settlement account.
On the premise that the notification method is stipulated in the credit card collection contract (agreement) or written agreement, the issuing bank shall notify the cardholder of the upcoming changes in the credit card articles of association, products and services in clear, concise and easy-to-understand language more than 45 days in advance.
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