Will overdue credit card annual fees affect your credit report?

If the annual fee of a credit card is overdue, it is generally not a malicious debt, so as long as you pay the annual fee in time, the bank will generally not report it to the credit reporting system. For example, if you forget to pay the annual fee, as long as you make it up within three days, your credit report will generally not be reported and your credit will not be adversely affected.

However, if your credit card annual fee is overdue, it will definitely be reported to the credit report, and it will have a negative impact on your personal credit. It will be included in the credit report. Bad records will also be retained for at least 5 years.

Credit card annual fee rules refer to some corresponding regulations for the annual payment of credit cards. Banks are not allowed to charge annual fees before the credit card is activated by the cardholder. However, in the face of the various annual fee rules for credit cards from different banks, most Most people have only a little knowledge. Most annual credit card fees are around one hundred yuan. Some banks stipulate that you can waive the annual fee by swiping three times a year.

Annual fee standards:

The annual fee policies of most banks have not changed. Generally, the annual fee for standard credit cards is about 100 yuan, while the annual fee for gold cards is generally 200 yuan. Or 300 yuan. The annual fee for a single-currency card is lower than that for a dual-currency card. The annual fee for supplementary cards is generally half the annual fee for the main card.

However, the annual fee standards for credit cards of various banks will vary depending on the card. For example, the annual fee for Shanghai Pudong Development Bank's standard credit card is 180 yuan for the main card and 90 yuan for the supplementary card; the annual fee for the gold card is 360 yuan for the main card and 180 yuan for the supplementary card; and the annual fee for the Pudong Development Bank Shanghai Airlines co-branded card is 360 yuan; as for the Pudong Development McDull series The credit card also displays the sign of “no annual fee for life”.

Therefore, even if credit cards are issued by the same credit card center, the annual fee standards will be very different. Cardholders should first ask how high this "potential cost" is when applying for a card.

Notes:

In fact, for most cardholders, the annual fee is not a problem. The key is whether the annual fee-free target is easy to achieve. From the survey, we found that most credit card centers have not adjusted the original annual fee exemption standards, and only a few have raised them.

Since August 2013, most credit cards can waive the first-year annual fee, and then the annual fee can be reduced by swiping the card a certain number of times or reaching a certain amount.

The standard cards of China Construction Bank and China Everbright Bank have relatively low standards. As long as the cardholder swipes the card three times per year, the annual fee for the next year can be waived. Among them, there are also fees between the main and additional cards of China Everbright Credit Card. The accumulated card swiping times can be combined, that is, the main card and the supplementary card can both be exempted from the annual fee after 3 swiping times.

Bank of Communications’ annual fee-free policy is to waive the annual fee in the first year, and to waive the annual fee for the following year if the card is swiped 6 times in a year (no limit on the amount). The number of card swipes for the main card and supplementary card can be combined for calculation. However, the Credit Card Center may introduce new annual fee standards, which will be announced on the Credit Card Center website and cardholders will also receive corresponding notifications. If the annual fee exemption policy changes, cardholders should not forget to adjust their card swiping strategies.

The annual fee-free policy of Shanghai Pudong Development Bank is quite special. Cardholders of standard cards, gold cards, and some platinum cards (points acceleration, simple platinum) can be exempted from the annual fee for the following year by swiping the card 6 times. Standard Platinum Cards and co-branded cards require 30,000 points to waive the annual fee for the next year. (1 yuan spent earns 1 point)

Minsheng Bank and Shenzhen Development Bank have relatively high annual fee exemption standards. The former requires the cardholder to swipe the card 8 times in a year to be exempted from the annual fee for the next year, while the latter raises the standard to 18 times. Moreover, both credit card centers stipulate that the main card and the supplementary card need to calculate the number of card swipes separately. There is no need for any card. If you meet the standards, you need to pay the corresponding annual fee.

In the bank's annual fee-free policy, it generally involves words such as "first year" and "second year", but the starting time of each bank is different. Some banks count one year from the cardholder's card opening date to the day of the following year, and waive annual fees within this year, such as China Construction Bank, China Guangfa Bank, etc., while some banks start from the date of card verification or card issuance. Start counting, and then the annual fee amount will be reflected in the bill of the month on the card verification date or card issuance date, such as Bank of Communications, China Merchants Bank, etc.

In the latter case, if the cardholder does not open the card within the first year after applying for the credit card, and waits until the second year to open the card, the annual fee will most likely be charged directly. Because according to the bank's timing rules, the cardholder did not reach the number of card swipes or the amount swiped in the "first year".

Platinum credit cards issued for high-end people not only have high annual fees, but also almost no annual fees. Since platinum credit card holders can enjoy airport VIP lounge services, golf discounts, discounts at specific hotels and shopping malls, etc. after presenting the card, some platinum credit cards require payment once the card is issued, regardless of whether the cardholder has activated it or not. Annual fee. For example, on the website of Industrial Bank's high-end GOLF Platinum Credit Card, you can see an important reminder in bold red letters: "Once the card is issued, an annual fee will be charged regardless of whether it is activated or not; Industrial Bank will no longer refund the annual fee collected. ; Industrial Bank will not be responsible for any adverse impact on your personal credit record due to overdue payment of the annual fee. ”

Will failure to pay the annual fee on a credit card affect your credit report?

Yes, credit card. The annual fee will be included in the cardholder's credit card bill. The cardholder must repay the annual fee together with other arrears for consumption in the month before the repayment date. Therefore, overdue credit card annual fees will also affect the credit report.

Credit reporting is the collection, sorting, preservation, and processing of credit information of natural persons, legal persons, and other organizations in accordance with the law, and provides external services such as credit reports and credit assessments to help customers judge and control credit risks and conduct credit management. activities.

Credit reporting is a professional, independent third-party agency that establishes credit files for individuals or enterprises, providing a platform for professional credit institutions to share credit information.

What does bad information mean? Adverse information refers to information that has a negative impact on the credit status of the information subject, such as information that the information subject failed to perform its obligations in accordance with the contract in activities such as lending, credit purchases, guarantees, leasing, insurance, and credit card use, and information on administrative penalties imposed on the information subject. , people's judgments or rulings on information subjects' performance of obligations and information on enforcement, etc.

What do some terms used to record “overdue” information in credit reports mean?

Have you ever seen some nouns used to record "overdue" in the credit report and couldn't understand them? It's actually very simple. For example, the current number of overdue periods/amount refers to the current number and amount of consecutive overdue periods; the overdue month refers to the month in which a loan or credit card is overdue; the number of consecutive overdue months/amount refers to the number of months that a certain overdue behavior has continued up to now. and the amount that has yet to be repaid.

How long is bad information stored? Will a breach of trust be recorded for life? Bad information will not last a lifetime. The retention period of adverse information is 5 years from the date of termination of the adverse behavior or event. For example, if you forget to repay your mortgage in October and it becomes overdue, then the overdue record will be automatically eliminated after 5 years from the date the October mortgage is paid off.

What should I do if I find that the bad information has been recorded incorrectly?

If you believe that there are errors or omissions in the information collected, saved, and provided by the credit reporting agency, you have the right to raise objections with the credit reporting agency or the information provider and request corrections. After receiving the objection, the credit reporting agency or information provider shall mark the relevant information as objectionable according to regulations, conduct verification and processing within 20 days from the date of receipt of the objection, and reply to you in writing with the result.

Will overdue credit card annual fees affect your credit report?

Overdue bank card annual fees will affect your credit report. Generally speaking, the annual fee of a credit card will be included in the cardholder's credit card bill. The cardholder must repay the annual fee together with other outstanding debts for the month's consumption before the repayment date. Therefore, overdue credit card annual fees will also be charged. Affecting credit reporting.

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1. Usually, credit cards from major banks provide a 3-day time tolerance service. If the repayment is made within 3 days after the repayment date, it will not count. If the payment is overdue, if it is repaid 3 days after the repayment date, it will be considered overdue, resulting in a bad credit record that will affect your personal credit report. If you want to eliminate the overdue record, the cardholder needs to pay off the debt as soon as possible after the overdue date, then continue to use the credit card and keep repaying the credit card on time. It will be eliminated after 5 years.

2. How to remedy overdue annual fees

Customers can only pay off the debt quickly and then build up their credit. After all, the overdue situation has been caused, and the overdue records on the credit report cannot be eliminated manually, and the system cannot delete them in a short period of time. Generally, customers will have to keep them for at least five years after paying off their debts before they will be deleted by the system. Therefore, customers need to accumulate more good credit, so that new good records can slowly cover up bad records.

3. How many times can a bank be overdue in a year?

It is best not to have overdue loans whether it is a credit card or a loan. Generally speaking, bank loans have credit reporting requirements: there cannot be one overdue loan currently, there cannot be two overdue loans in half a year, and there cannot be consecutive overdue loans in one year. It is overdue twice, and there cannot be three consecutive overdues in two years, with a total of 6 overdues.

If you fail to repay by the repayment date, you are overdue, and it will be recorded in your credit report; overdue bad records will be recorded in your personal credit record. If you continue to fail to repay, you will be blacklisted. , affecting personal credit reporting;

4. The bank's handling method after the credit card is overdue:

①Consumption payments no longer enjoy the interest-free repayment treatment. The card-issuing bank will calculate interest on the principal of the consumption amount on a daily basis starting from the accounting date, with a daily interest rate of 0.5% and compound interest on a monthly basis. For the unpaid portion of the minimum repayment amount, a late payment fee of 5% will also be charged on a monthly basis.

②Receive reminder calls and reminder letters from the card-issuing bank.

③ If the credit card account is frozen by the card-issuing bank, the debt record may be fed back to the personal credit reporting system of the People's Bank of China, affecting the cardholder's personal credit record and causing the cardholder to be unable to apply for loans regularly.

5. How long does it take to go to jail if a credit card is overdue?

①The starting penalty for credit card debt is 10,000 yuan, and you will not go to jail if it is less than 10,000 yuan;

②Law Basis: Article 196 of the "Criminal Law" Credit Card Crimes. Anyone who commits credit card activities under any of the following circumstances and the amount is relatively large shall be sentenced to not more than five years or criminal detention, and shall also be fined not less than 20,000 yuan but not more than 200,000 yuan. ; If the amount is huge or there are other serious circumstances, the penalty shall be not less than five years but not more than ten years, and a fine of not less than 50,000 yuan but not more than 500,000 yuan; Fines of not less than 50,000 yuan but not more than 500,000 yuan or property confiscation:

(1) Using a counterfeit credit card;

(2) Using an invalid credit card;

(3) Pretending to use other people’s credit cards;

(4) Malicious overdraft.

This concludes the introduction to credit card annual fee reports and how often credit card annual fee reports are updated. Have you found the information you need?