1. How to calculate the penalty for credit card maturity?
5% of the unpaid portion of the minimum repayment amount is charged in a one-time manner. If a credit card holder fails to repay the minimum repayment amount or uses the card beyond the credit limit, the card-issuing bank shall charge a late payment fee and an over-limit fee of 5% of the unpaid portion of the minimum repayment amount and the portion exceeding the credit limit, respectively. Credit card default penalty refers to the default amount that the cardholder has to pay for the unpaid portion of the minimum repayment amount when the actual repayment amount on the credit card due date is lower than the minimum repayment amount.
2. What are the consequences of overdue credit cards?
1. Penalty interest will be charged for overdue payments
No matter what kind of online loan you apply for, once the repayment occurs If the loan is overdue, the lending institution will not only notify the borrower of timely repayment as soon as possible, but also charge penalty interest according to corresponding standards (some products also have liquidated damages).
Taking JD.com Baitiao as an example, if it is not installmentd, you can enjoy a 30-day interest-free period and no fees will be incurred for normal repayment. If you apply for installment, in addition to the installment handling fee of 0.5%/month, if you still fail to repay after multiple reminders, you will be charged liquidated damages at the daily interest rate of 0.03% (that is, three ten thousandths).
Like Huabei, once the repayment is overdue, penalty interest will be charged at a daily interest rate of 0.05% or a 50% increase in the loan interest rate. The longer the time, the greater the penalty. The interest and penalties are rolling up, which is scary.
2. Overdue records will be recorded in the credit report
Although applications for Huabei, Jiebei, and Baitiao mainly refer to the Zhima credit score and third-party credit score of the party concerned. Only those with qualified credit scores are eligible to apply. However, once it is overdue, it may be reported to the central bank's credit reporting system, such as Alipay. Although many online loans have not yet been connected to the credit reporting system, they may be connected to the credit reporting system soon.
3. Will be subject to various collections
If the borrower fails to repay the loan, the lending institution will go through collection procedures in order to recover the arrears. Common ones include text message collection, phone collection, Door-to-door collection. Not only will your own life be affected by that time, but if you leave an emergency contact or your address book is read, your relatives and friends will also be harassed by various collection calls.
4. Will be blacklisted by the bank
People who have been blacklisted by the bank will not be able to take flights, high-speed rail, accommodation, etc.; what is more serious is that their children will not be able to attend key schools. School; there will be more punishments in the future, it can be said that life will be difficult.
5. You will be sued by the court to seize the mortgaged property
If the payment is not made for more than 3 months, it will be very serious. The lending bank will collect the due loan in accordance with the law, and will sue the court in accordance with the provisions of the loan contract and guarantee contract (mortgage or pledge contract). The court will take measures such as property preservation, including freezing all bank accounts of the lender and loan guarantor. deposits, seized properties that have been pledged, etc.
Failure to repay the credit card repayment date may be deemed to constitute an overdue act, which means that a breach of contract has occurred. Therefore, the provisions of the signed loan agreement must be followed. To pay a certain amount of liquidated damages, the liquidated damages are collected once, but the penalty interest is accumulated every day based on the overdue date.