1. If the credit card fails to repay on time, there will be a penalty, which is generally the minimum repayment amount, 5% of the unpaid part.
2. If the credit card fails to repay on time, it will generate high interest, and it is rolling interest. In the case of more debts, interest will be high.
3. Overdue will tarnish the credit record, resulting in the inability to handle financial needs such as buying a house and lending in the next two years.
4. the amount is large, and the bank has repeatedly reminded it. At that time, you will not only pay back the money, but also bear criminal responsibility.
Extended data:
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, the repayment is interest-free. Overdue, all consumption funds will no longer enjoy interest-free repayment treatment. The bank will calculate the interest on a daily basis with the consumption amount as the principal, with a daily interest rate of 0.5 ‰, compound interest every month and a late fee.
Credit card late fee means that when the actual repayment amount on the due repayment date of the credit card is lower than the minimum repayment amount, the cardholder needs to pay late 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 set is not the same.
Credit card holders give up the use of credit cards and go through the formalities of card withdrawal in time. Otherwise, the expenditure of credit cards and the interest and late payment fees generated in the later period will lead to personal economic losses and credit reduction, which will affect mortgage and car loans.
The consequences of overdue repayment of credit cards are serious, and overdraft consumption should be moderate. Although the biggest feature of credit card is overdraft function, it actually constitutes the loan relationship between customers and banks. Failure to repay at maturity may not only cause legal disputes, but also bear high penalty interest. The most important thing is to form a bad credit record, which will adversely affect future work and life.
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