The credit card repayment grace periods of major banks are as follows:
Bank of China, China Merchants Bank, China Guangfa Bank, Industrial Bank, CITIC Bank, China Minsheng Bank, China Everbright Bank, Hua Xia Bank, Ping An Bank , Shanghai Pudong Development Bank: The grace period is 3 days. Guangfa Bank cardholders need to call the bank’s customer service to apply.
Agricultural Bank of China, Bank of Communications, and Bank of Beijing: The grace period is 2 days, of which Bank of Communications must complete the repayment before 17 days after the second natural day after the repayment date, and use its branches to repay by itself.
China Construction Bank: The grace period is 5 days, and the repayment must be completed before the 17th day of the fifth calendar day after the repayment date.
ICBC: There is no grace period, and the repayment date is one day overdue.
If your ICBC credit card repayment date is one day late and you need to pay off the balance in full as soon as possible, call ICBC customer service to explain the situation. It's not a malicious overdue move. Banks will generally help you eliminate bad credit records and will not affect your credit report. But if you ignore it, it will discredit your credit report, affect your future credit behavior, and incur overdue interest.
1. Overdue credit card repayments will face the following consequences:
1. Credit card late payment fees. The so-called credit card late payment fee refers to the fee that the cardholder should pay to the card issuer in accordance with regulations when the cardholder fails to repay before the due payment date (inclusive) or the repayment amount is lower than the minimum repayment amount.
2. Overdue interest. After users overdraw with a credit card, they generally have an interest-free repayment period ranging from more than 20 days to more than 50 days. If the cardholder's repayment is overdue, all the cardholder's expenditures last month will no longer enjoy the bank's interest-free treatment, and the recurring daily interest rate is as high as 0.5%, that is, the annual interest rate reaches 18.
3. Bad credit record. Overdue credit card repayment records will enter the central bank's credit reporting system to generate a bad credit record. China's personal credit information records have been networked nationwide. As long as individual residents have handled loan business at a bank, applied for a credit card, or provided guarantee for others, their credit report can be checked at any domestic commercial bank. 4. Litigation costs. If the credit card is not repaid for more than three months, the bank will ask a lawyer to send a lawyer's letter to the user and file a lawsuit in court. The litigation costs will be borne by the cardholder.
5. Criminal liability for malicious overdraft. According to Article 196 of my country's Criminal Law and relevant judicial interpretations, malicious overdraft refers to the cardholder's behavior of overdrafting beyond the prescribed limit or time limit for the purpose of illegal possession and refusing to return the card after being urged by the card-issuing bank. Anyone who maliciously commits credit card fraud by overdrafting shall be held criminally responsible for the crime of credit card fraud and shall be sentenced to fixed-term imprisonment of 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.