What if the credit card becomes a bad debt?

If the credit card has bad debts, nine times out of ten, the cardholder will become a black account of the bank. Is there a better way to recover your credit for such bad debts? Let's have a look.

Generally speaking, there are two reasons for the formation of credit card bad debts:

1. Long-term overdue credit card:

It is understood that the credit card is overdue 18 1 day, and it is invalid after six effective collections by the bank, or the cardholder has been unable to contact after the overdue period, then the bank will record this debt as a bad debt and report it to the central bank for credit investigation, and the bad debt will be displayed on the overdue record.

2. The credit card has expired and has not been processed:

Here refers to the overpayment, mainly credit card refund and overpayment, resulting in the balance exceeding the credit card limit, which has not been handled for a long time, and the cardholder has not used the credit card to spend any more, which will also form bad debts.

After finding the reason, we can deal with different bad debts:

1. If it is a bad debt caused by overdue, all the debts must be paid off first, but paying off the debts does not mean that the credit investigation can be resumed. You have to contact the bank to handle it. After all, if the bank does not handle it, this bad debt will always exist, and the bad debt status will become overdue after the bank handles it, and it will be eliminated after five years.

2. If it's bad debts caused by excessive repayment of credit cards, this will be easy to handle. You can withdraw the money directly and then contact the bank to handle it in time. Banks will report credit information to the central bank. After the credit information is updated, your credit card status will be displayed as normal.

Credit cards show that the impact of bad debts is several times more serious than overdue. Once found, it must be dealt with in time.