For overdue payment, there is not only a late payment fee of 5% for the minimum unpaid part, but also a full penalty interest on the bill (five ten thousandths of the daily interest, starting from the day of consumption. Compound interest on a monthly basis until the principal and interest are paid off) will also produce bad credit records in the People's Bank Credit Information Center. If the payment is overdue for more than three months or the bank makes more than two reminders, the bank will freeze your card and list you as a prohibited customer (blacklist). At the same time, you will be sued for credit card fraud and malicious overdraft, which will be enforced by the court. If a person refuses to repay the loan after prosecution, and the amount owed exceeds 1 000, the court will punish him for the crime of credit card fraud according to Article 1 96 of the Criminal Law.
The consequences of overdue credit cards are: high handling fees, the influence of personal credit and legal risks.
First, the cost is high.
If the credit card is overdue, you have to pay interest and overdue fees. Generally speaking, this fee will be higher than the usual repayment fee because of its high interest rate. Generally speaking, the interest rate of overdue credit cards is 0.5 ‰ per day, which is very high compared with bank deposits and bank loans. If the overdue benefits are too late to repay the interest, they may be more and more, like snowballing, and they really can't be repaid in the future, so the credit card is overdue and must be returned as soon as possible.
Second, the influence of personal credit.
Overdue credit cards will fall on the overdue person's credit file. When you use a credit card in a credit bank, there will be problems with your credit. Failure to repay in time will have an impact on your personal reputation in the future, and even on your future mortgage, car loan and work life. I believe many people are aware of the importance of personal credit. In the current information age, people without credit can't go anywhere, and credit report is also very important for personal credit. Once your credit card is overdue, your credit report will show that your credit card is overdue, which is very serious.
Third, facing legal risks.
If the credit card is overdue, you should take the initiative to repay the overdue money, otherwise the bank has the right to negotiate through legal channels and even freeze assets. Any bank credit card will face legal risks, and even the property can be frozen for auction. Personal losses are relatively large, so if the bank credit card is in arrears, it must take the initiative to pay it back in time. And at the same time of economic consumption, we must pay attention to our economic ability and never let the bank credit card expire.