1. What does the minimum credit card repayment mean?

The minimum credit card repayment refers to the minimum amount that the user needs to repay in the current bill. As long as If the user returns the credit card according to this amount, then this month's repayment will not be overdue, and it will not have an impact on the subsequent use of the credit card.

Some users will choose the minimum repayment amount of a credit card when they are short of funds. Most bank credit cards require a minimum repayment amount of about 10% of the current period's repayment amount. Users only need to pay the current period's repayment amount. 10, the credit card repayment is not considered overdue.

When the user has sufficient funds on hand, the user can pay off the remaining balance at any time, and the credit card limit will be released again. Of course, there is no cost for users to use the minimum repayment amount. Users need to pay a certain percentage of interest.

2. What is the impact of long-term minimum credit card repayments?

Repayment interest increases. If you only pay the minimum payment, you will have to bear more recurring interest. Because the user's bill has not been paid off, even if the minimum repayment amount is paid, interest will still be calculated on the entire bill. The interest calculation period starts from the time the consumption of the bill is recorded.

Generally, the interest calculation standard of various banks is 50,000 per day. Over time, it will cause a relatively large interest burden, so long-term minimum repayments are not recommended.

Not conducive to loans. If the credit card only pays the minimum repayment amount, on the one hand, it is not repaid in full and on time, and on the other hand, the bank will also consider the user's income and repayment ability to be limited, which is not conducive to subsequent bank loan applications.

3. How to negotiate repayment of an overdue credit card

1. Just call the bank’s customer service number first. As long as your credit card is overdue, you can call the customer service number and ask for negotiation. , the customer service phone number will transfer your information to a specialized negotiator.

2. The information provision negotiator will generally send you some relevant information and ask you to provide it. This information includes your income certificate and work information. If it involves the cause of the epidemic, you will be asked to provide information related to the epidemic, such as isolation, business closure, etc.

3. Negotiators usually go to the branch where you are located. They have specialized personnel to contact you and review the information you provide to see if you really have no ability to repay. Please note that negotiation must not be successful the first time, but must be multiple times and go through multiple rounds of negotiations.

Don’t worry if your debt is overdue, one-on-one legal services will provide you with a solution.