Can overdue credit card fees be reduced?

Can overdue credit card fees be reduced or reduced?

After the credit card is overdue, as long as it is not a malicious default, it can be reduced. Failure to repay a credit card overdue is a breach of contract. The bank can require the cardholder to repay the principal as well as overdue interest, late payment fees, over-limit fees, etc. At the same time, the bank can apply to freeze your card and list you as a prohibited customer ( Blacklist), apply to, for enforcement.

If the cardholder maliciously overdrafts a certain amount for the purpose of illegal possession, and the card is overdue by more than 10,000 yuan, and the card-issuing bank has called for it twice and still fails to pay it back more than 3 months later, he is suspected of credit card crime and must bear criminal responsibility. .

If it is a China Merchants Bank credit card, the monthly bill settlement date and due payment date are fixed. Late payment will incur late fees and interest, and will affect personal credit. The customer's relevant credit information will be recorded in the personal credit database and become part of the credit record.

The late payment fee is 5% of the unpaid portion of the minimum repayment amount, with a minimum charge of RMB10 yuan or USD1 yuan. Interest will be charged on all consumption in the current period starting from the recording date (usually the next day after consumption), with a daily interest rate of 0.5% until you pay it off in full. In order to avoid affecting your personal credit, it is recommended that you repay your bill on time. If it is not convenient to pay off the bill in full, please pay at least the minimum repayment amount on time.

Forgot to repay, due to business trip, tourism or other reasons, failure to repay in time, or credit card overdue due to delay in repayment channels, etc. After a credit card is overdue, as long as it is not a malicious default, there is still room for negotiation with the bank. If the credit card is overdue due to negligence or objective reasons, contact the card-issuing bank as soon as possible after the credit card is overdue, explain the facts and reasons for the overdue, and discuss solutions with the bank.

Under normal circumstances, as long as the cardholder pays off the balance in full and on time, the bank will not make any negative comments on the cardholder's usage record, but will only provide truthful feedback on the card's use and repayment record. of. It is recommended to maintain a good consumption and repayment record in the future, which will continuously increase your credit rating. It should be noted that overdue interest and other fees incurred in this case are borne by the cardholder, and banks generally do not exempt them.

If you really have no money to repay, your credit card will be overdue. Cardholders should still contact the card-issuing bank as soon as possible. In view of the cardholder's proactive performance and previous good credit record, the bank will often agree to defer the repayment and negotiate with the cardholder a repayment plan acceptable to both parties, including delay period, interest discount, monthly repayment amount, etc. .

If you take the initiative to contact the bank and get the bank's consent to defer the repayment, you will not have a bad credit record. It should be noted that you must ensure that you repay the loan as agreed and avoid overdue payments again.

Can overdue interest on credit cards be reduced or exempted?

Generally, overdue interest on credit cards cannot be reduced or reduced.

However, if the cardholder has overdue credit card repayment due to special circumstances, and has a good willingness to repay after the overdue payment, he can try to contact the bank's credit card center for negotiation and apply to the bank. Reduction or exemption of corresponding credit card overdue interest.

Bank overdue credit card exemption and exemption policies

Bank credit card overdue exemption and exemption policies are as follows:

1. Pay off the debt in time and take the initiative to explain the situation to the bank. Keep the account in a normal state;

2. Never cancel a card because it is overdue. If you cancel the card, you will lose the opportunity to repair your credit. After it is overdue, you should continue to use the credit card normally, spend more, and repay on time. Replace overdue records with new repayment records;

3. Never lose contact after overdue, and don't let the bank think that you are maliciously overdrafting or owing money, otherwise you may be charged by the bank.

Main Features of Credit Cards

Pre-deposit of cash is not encouraged. Spend first and repay later. Enjoy an interest-free repayment period. You can repay in installments (with a minimum repayment amount). Join VISA , MasterCard, JCB and other international credit card organizations so that it can be used globally.

It is one of the fastest growing financial services today and is an electronic currency that can replace traditional cash circulation to a certain extent.

Has both payment and credit functions. Cardholders can use it to purchase goods or enjoy services, and can also obtain certain loans from card issuers by using their credit cards.

It is a high-tech product integrating financial business and computer technology.

Can reduce the use of cash currency.

It can provide settlement services to facilitate shopping and consumption and enhance a sense of security.

It can simplify the collection procedures and save social labor.

Can promote product sales and social demand.

Credit card repayment methods

The methods within the card issuing bank include: card issuing bank counter, ATM, online banking, automatic transfer, telephone banking repayment, etc. After repayment, the credit card limit will be restored immediately, and the payment will generally be credited to the account after the system processes it on the same day.

Weiyintong POS mobile phone and Weiyintong POS mobile phone are a mobile financial system personal payment terminals that can be used to directly repay by swiping cards, as well as perform transfers and other services. Instant payment!

Transfer/remittance repayment is mainly divided into two methods: inter-bank inter-bank in the same city and inter-bank inter-bank in different places. Regardless of the method of transfer or remittance, the remittance bank will charge a certain fee. At the same time, the time it takes for the money to arrive and the convenience of repayment are not as good as intra-peer repayment, online repayment, convenience store repayment and other methods.

The more common domestic online platforms for online repayment include: UnionPay Online, Kuaiqian, Shengfutong, Alipay, Tenpay, etc. Depending on the platform and bank you choose, the charging standards and specific payment arrival time will be different.

This method of convenience store repayment is mainly completed through the "Lakala" smart payment terminal installed in the convenience store. Generally, the payment time takes 2 to 3 working days. At the same time, using this There is no handling fee for repayment.

Counter repayment counter refers to bank cards issued by various networked financial institutions, which can be used to conduct RMB current deposit and withdrawal transactions through the counters of other bank branches registered in the UnionPay exchange center host system.

The "Xinpaytong" smart credit card phone for repayment is an innovative electronic product independently developed by China UnionPay, certified by the Bank Card Testing Center, and supported by financial services provided by China UnionPay's inter-bank information exchange network.

Repayment Tong uses "Repayment Tong" to repay, and the fees are generally charged according to the fee standards for intra-city inter-bank transfers and long-distance inter-bank remittances stipulated by the local People's Bank of China.

Other methods In addition to the methods mentioned above, card issuers have also opened their own unique repayment methods in order to facilitate cardholders' repayment.

Can overdue penalty on credit card be reduced or reduced?

Overdue payment on credit card is a breach of contract by the cardholder, and overdue penalty on credit card is the penalty taken by the bank for this breach of contract. . However, cardholders can negotiate with the bank for liquidated damages. As long as the conditions are met, cardholders can reduce or reduce their penalty fees, for example:

(1) The cardholder's credit card is overdue due to non-subjective reasons such as unemployment or illness. If the cardholder takes the initiative to contact the bank, explain his financial situation and negotiate with the bank. The bank will consider it at its discretion, and borrowers can generally reduce their default penalties.

(2) Liquidated damages are too high. If the cardholder's liquidated damages exceed 30% of the total amount owed, the cardholder can apply for arbitration and request a reduction or exemption of the liquidated damages.

In addition to paying liquidated damages, cardholders whose credit cards are overdue will also face the following consequences:

(1) The credit card will not be used regularly. If the cardholder has serious overdue behavior, in order to control the borrowing risk, the bank will freeze the cardholder's credit card, and the cardholder will not be able to use the credit card regularly.

(2) Affect future borrowing and lending. After a serious credit card overdue occurs, the cardholder's personal credit will be seriously affected, and the cardholder will be unable to apply for a loan or apply for a credit card.

(3) It may be charged by the bank. If the cardholder's overdue situation is serious, the bank will file a lawsuit to require the cardholder to repay as soon as possible.

Can late payment fees and interest on credit cards be reduced or reduced?

After a credit card is overdue, it can be reduced as long as it is not a malicious default.

1. Failure to repay a credit card overdue is a breach of contract. The bank can require the cardholder to repay the principal as well as overdue interest, late payment fees, over-limit fees, etc. At the same time, the bank can apply to freeze your card and List you as a banned customer (blacklist) and apply for enforcement.

2. If the cardholder maliciously overdrafts a certain amount for the purpose of illegal possession, more than 10,000 yuan is overdue, and the card-issuing bank has called for it twice and still fails to pay it back more than 3 months later, he is suspected of credit card crime and must bear the responsibility. criminal responsibility.

Extended information:

Reasons for credit card overdue:

1. There is a problem in your hands and you really have no money to repay, resulting in the credit card being overdue;

2. Forgot to repay;

3. Due to business trip, tourism or other reasons, failure to repay in time or credit card overdue due to delay in repayment channels, etc.

Consequences of an overdue credit card:

1. Overdue payment not only involves a late payment fee of 5% for the minimum unpaid portion, but also a penalty interest on the full amount of the bill (daily interest rate of 0.5%, calculated starting from the day of consumption). Interest will be charged on a monthly basis until the principal and interest are repaid) and it will also produce a bad credit record in the Credit Reference Center of the People's Bank of China, which will seriously affect the application for credit cards and bank loans within 5 years.

2. If you are overdue for more than three months or fail to repay more than two bank reminders, the bank will freeze your card and list you as a prohibited customer (blacklist), and you will also be Credit card and malicious overdrafts are enforced.

3. Article 196 of the "Criminal Law" stipulates that anyone who engages in credit card activities under one 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. A fine;

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;

The amount is particularly huge or there are other serious circumstances. If there are other particularly serious circumstances, he shall be sentenced to not less than 10 years in prison or fined not less than 50,000 yuan but not more than 500,000 yuan, or his property may be confiscated:

(1) Using a forged credit card, or using a false identity Proving that the credit card was obtained fraudulently;

(2) Using an invalid credit card;

(3) Pretending to use another person’s credit card;

(4) Malicious Overdrawn. Malicious overdraft refers to the cardholder's behavior of overdrafting beyond the prescribed limit or within the prescribed period for the purpose of illegal possession, and still refuses to return the card after being called upon by the card-issuing bank. Malicious overdraft is the main form of risk in the credit card business and is a part of the credit card.