if the application is successful, the interest will no longer be accrued on the arrears. As for the interest and principal of the arrears generated before, the customer can repay them on time and in installments according to the new repayment plan negotiated with the bank.
besides consulting with the bank, customers can also try to borrow money from relatives and friends around them to raise funds to pay off their credit cards. Or mortgage or auction some assets under the name, and use the proceeds to repay the arrears.
1. Impact of overdue credit card:
1. If the credit card fails to repay on time, a penalty will be incurred, which is generally the minimum repayment amount, 5% of the unpaid part.
2. If the credit card fails to repay the loan on time, it will generate high interest, and it will be a rolling interest. In the case of large debts, the interest will be a lot.
3. The overdue period will stain the credit record, which will lead to the inability to handle financial needs such as house purchase and loan in the next two years.
4. If it is overdue for more than 3 months and the amount exceeds 1,, the bank has failed to make several reminders, and it will not only pay back the money, but also bear criminal responsibility.
2. Precautions for overdue credit cards:
Cardholders should pay special attention to the last repayment date of credit cards. The last repayment date is the last day of the interest-free repayment period. Before that, repayment is interest-free. If it is overdue, all consumption funds will no longer enjoy the interest-free repayment treatment. The bank will calculate interest on a daily basis with the consumption amount as the principal, with a daily interest rate of .5 ‰, with a monthly compound interest and a late fee.
Credit card late payment refers to the fact that when the actual repayment amount of the credit card is lower than the minimum repayment amount on the due repayment date, the cardholder has to pay a late payment fee for the unpaid part of the minimum repayment amount, which is generally 5% of the unpaid part of the minimum repayment amount. However, due to different bank policies, the minimum amount is different.
people who have no economic income, such as students, should not apply for credit cards easily. Even if they don't use credit cards, they have to bear annual fees and other items. Holders of credit cards give up the use of credit cards and go through the formalities of returning the cards in time. Otherwise, the expenses of credit cards and the interest and late payment fees generated later will lead to personal economic losses and credit reduction, which will affect mortgages and car loans.
the credit card repayment information will be recorded by the central bank's credit information system for 24 months, that is, the bad credit records generated by overdue credit card repayment will be kept in the credit information system for two years. If the card is used for termination, the corresponding record will not be scrolled
, but will be saved for a long time. Therefore, after the overdue repayment of the credit card, it is best not to cancel the credit card immediately after paying off the arrears, but to insist on using the card for more than two years and maintain a good credit during the period, so that the bad records can be removed from the credit information system by rolling records.