Cancel the repayment after the credit card is overdue

Can I cancel my credit card if it is overdue? Be careful not to be innocent all your life!

The use of credit cards is closely related to personal credit information. If the credit card is overdue, it will be reported to the central bank's credit information system by the issuing bank, which will produce bad credit. When you buy a house or a car, you may be refused a loan by the bank. Therefore, some card friends will ask, can you eliminate bad credit by overdue repayment of credit card arrears and then canceling the credit card? If you really do that, you may be innocent all your life. Let's get to know each other.

Can I cancel the repayment after the credit card is overdue?

Many card friends think that canceling credit cards after overdue repayment can eliminate bad credit. After all, the money owed to the bank has been paid off, and the card with no bad credit record has disappeared. Let's just say it's stupid.

Overdue records will be kept in the credit information for two years, while records in the banking system will be kept for up to five years. If the credit card is no longer used, the corresponding records will not scroll, but will be kept for a long time. Therefore, it is best not to cancel the credit card immediately after the credit card is overdue.

If you do cancel your credit card, don't worry. Carefully figure out whether to return the card or cancel the account. If you just cancel your card, you can apply to the bank to restore your credit card.

If you want to eliminate bad credit, you must do this:

If you want to eliminate bad credit, it is obviously not feasible to cancel the card after the deadline. After all, once you return your card, you lose the opportunity to correct your credit record. Just like playing mahjong. You lost 100 as soon as you came to the table, and then you got up and walked away, and you lost the chance of edition forever. The best way is to continue to use credit cards and gradually smooth out overdue records through certain ways of raising cards.

If you use it well, you may even get growth. For example, a colleague's CMB credit card is overdue. After the repayment, he did not cancel the card, but continued to spend it by credit card. The monthly credit card amount is 70%, and the number of credit cards is about 20 times. After about 8 months, the bank raised the quota to 20,000.

The above is "Can I cancel the overdue repayment of credit cards?" I hope it helps you. In short, after bad credit is generated, never cancel the credit card except to repay the credit card debt. You must use the card for 2 years, and it is basically no problem to cover the overdue records through a good credit record.

Can I cancel my credit card if I pay it off after it is overdue?

Although you cancelled your credit card, the bad record caused by your overdue repayment still exists in the bank.

The best way is that you continue to use this card, keep the repayment record, and overwrite the original negative record with the new repayment record, so that a new credit record will be generated after 24 months, so that it will not have a bad influence on credit behavior.

If the credit card is overdue, there will be a penalty interest, full interest, and the daily interest rate will be five ten thousandths. For example, if your credit card is overdue for 5,000 yuan and the overdue days are 30 days, then the penalty interest is 5,000× 0.05 %× 30 = 75 yuan.

In addition, in addition to interest, there will be liquidated damages after the deadline, and the charging standards for liquidated damages of different banks are different. Generally speaking, most banks charge a penalty of 5% of the minimum unpaid amount.

We know that overdue is an act of dishonesty. Once the credit card is overdue, the bank will report the overdue record to the central bank's personal credit report, and the overdue record will be kept in the personal credit report for five years. During this period, applying for a bank loan may encounter high interest rate and small amount, and even the loan application is directly rejected by the bank.

At present, credit reports are mainly used for various consumer credit businesses of banks. With the continuous improvement of the social credit system, credit reports will be more widely used in commercial credit sales, credit transactions, recruitment and job hunting and other fields. In addition, the personal credit report also provides a way for inquirers to examine and standardize their own credit history behavior, and forms a verification mechanism of personal credit information.

In addition, for those who are particularly overdue, their travel will also be affected. They can't spend money on planes, high-speed trains, hotels and mobile phones, and their children can't go to key schools, so it's hard to break their word.

Credit card arrears are protected by law. If the cardholder maliciously overdraws and fails to pay it back within the time limit, he is suspected of committing a credit card crime and will be punished by law and face jail. The punishment depends on the overdue situation. The more serious the circumstances, the heavier the punishment. Those who are particularly overdue may even be sentenced.

In order to reduce losses, banks generally reduce the credit card limit of cardholders, or even directly seal the cards. Once the credit card limit is reduced or blocked, it is difficult to withdraw cash or unblock it. If you use a credit card, you must repay it on time. Overdue behavior is not desirable. Never try the law, let alone take chances, otherwise the consequences will be very serious.

What if the overdue credit card shows that the card has been cancelled?

If the overdue credit card display card has been cancelled, the customer had better call the issuing bank and ask the staff about the situation. Because banks don't cancel customers' cards for no reason, they usually have to apply to the bank for cancellation, and the bank will cancel the cards. Moreover, it is impossible to successfully return the card in the case of overdue arrears. The card cannot be successfully cancelled before there is no overdue debt and no overpayment.

So you'd better ask the bank staff to see if there is any problem with the card, and you'd better bring your personal ID card and card to the bank outlet to repay the loan.

Don't think that since the display card is cancelled, you don't have to pay back the money you owe, otherwise the consequences will become more and more serious if you continue to overdue. At that time, not only will there be more and more penalty interest, but also the repayment pressure will increase and personal credit will be seriously damaged. Later, to apply for credit cards and loans may also be blocked by credit problems.

The consequences of overdue credit cards are: high handling fees, the influence of personal credit and legal risks.

First, the cost is high.

If the credit card is overdue, you have to pay interest and overdue fees. Generally speaking, this fee will be higher than the usual repayment fee because of its high interest rate. Generally speaking, the interest rate of overdue credit cards is 0.5 ‰ per day, which is very high compared with bank deposits and bank loans. If the overdue benefits are too late to repay the interest, they may be more and more, like snowballing, and they really can't be repaid in the future, so the credit card is overdue and must be returned as soon as possible.

Second, the influence of personal credit.

Overdue credit cards will fall on the overdue person's credit file. When you use a credit card in a credit bank, there will be problems with your credit. Failure to repay in time will have an impact on your personal reputation in the future, and even on your future mortgage, car loan and work life. I believe many people are aware of the importance of personal credit. In the current information age, people without credit can't go anywhere, and credit report is also very important for personal credit. Once your credit card is overdue, your credit report will show that your credit card is overdue, which is very serious.

Third, facing legal risks.

If the credit card is overdue, you should take the initiative to repay the overdue money, otherwise the bank has the right to negotiate through legal channels and even freeze assets. Any bank credit card will face legal risks, and even the property can be frozen for auction. Personal losses are relatively large, so if the bank credit card is in arrears, it must take the initiative to pay it back in time. And at the same time of economic consumption, we must pay attention to our economic ability and never let the bank credit card expire.

Can I cancel my credit card after it expires?

Whether a credit card can be cancelled after overdue payment can be divided into two situations. The first case is to pay off within the grace period. In this case, the overdue records will not be reported to the credit center, so there is no problem in choosing to cancel. In another case, it will be paid off after the grace period. At this point, overdue records have been uploaded to the credit center. Even if the card is cancelled, the overdue record still exists. It is recommended to continue to use the card and cover the previous overdue records with good repayment records in the future.

disadvantaged

The invention of credit card is like a double-edged sword, which can solve the temporary economic crisis. However, the purpose of issuing credit cards is to make money. Once the interest-free repayment time is exceeded, high interest will be charged, usually five ten thousandths of interest per day.

Blind consumption of credit cards is not like paying cash in a lump sum. I don't feel anything when I brush. A few figures lead to blind consumption and spending money like water.

Excessive consumption of notebooks, digital cameras and smart phones, while enjoying your favorite items in advance, you should also consider whether you can repay them.

High interest If you can't get a credit card and can't repay it on time when the final repayment date comes, the bank will charge you high interest. (The minimum repayment amount of a credit card in the first month shall not be less than10% of the overdraft amount in the current month) [8]

Credit cards that need to pay an annual fee basically have an annual fee, but they basically have an annual fee-free policy. For example, CCB can be exempted as long as it is brushed three times a year; But if you don't swipe your card to the bank the specified number of times within a year, you need to charge an annual fee.

Stealing a credit card is basically a default credit card consumption without password, which is easy to be stolen by others when it is lost or stolen, causing unnecessary trouble or loss; But in fact, credit cards can also be charged by passwords-it depends on how you manage your credit cards. Of course, many people have not cancelled their credit cards because of their lack of experience in this field, and some lawless elements have reapplied for credit card overdraft, which is not worth it.

Long-term malicious arrears that affect personal credit records will naturally affect personal credit records and even be blacklisted by banks. If you want to borrow money from the bank to buy a house and a car in the future, you may be rejected by the bank.

CCTV reported that a cardholder received a bank bill several months after paying off all debts and canceling his credit card, and what happened afterwards made him miserable. This article named "Unknown Credit Card" exposes the disadvantages of current credit cards.

Although credit cards have an interest-free period, they are only for credit card consumption. There is no interest-free period for cashing, and a handling fee is charged.

How to cancel the credit card when it is overdue?

The normal process of credit card cancellation is to clear the account, that is, to pay off the debt, solve the balance, and ensure that the credit line in the card is consistent with the bank credit line before canceling the account. But if the credit card is overdue, even if the debt is paid off, it is best not to cancel it.

After all, the cancellation of credit cards cannot eliminate the bad records caused by overdue. Many cardholders cancel their credit cards after the deadline. They checked the credit information and found that the overdue records were still kept, the status of the credit card was frozen, and the credit information would not be restored after 5 years.

So before you cancel your credit card, you'd better check the overdue record of this card. If it is overdue for nearly five years, don't cancel the card in a hurry. It is best to continue to use the credit card for two years, cover the bad records with new records, and then wait for five years for the bad records to disappear completely.

As for those who have no bad records within five years, they can be cancelled, but there are also several issues to consider:

One is that it is difficult to issue cards after cancellation, like credit cards of state-owned banks. Issuing cards is not easy in itself. It is difficult to approve the card and then cancel it. It may not be approved next time. If you are really dissatisfied with your credit card, you don't need to cancel it. You might as well apply for another credit card first, and then cancel this card.

One is to cancel the account or card. Simply put, it is to cancel all the cards in this bank, or just cancel one of them. The former chooses to cancel the account and the latter chooses to return the card.

Credit card product category:

1. According to different card issuers, it can be divided into bank cards and non-bank cards.

Bank card. This is a credit card issued by the bank. Cardholders can shop and spend money at the special merchants of the issuing bank, or they can withdraw cash at any time at the outlets of the issuing bank or at places with ATMs.

Non-bank card. This kind of card can be divided into retail credit card and travel entertainment card. Retail credit cards are credit cards issued by commercial organizations, such as department stores and oil companies, which are specially used for shopping in designated stores or filling gas stations. , and settle accounts regularly. Travel and entertainment card is a credit card issued by airlines, travel companies and other service industries, which is used for ticket purchase, dining, accommodation, entertainment and so on.

2. According to different card issuers, it can be divided into corporate cards and personal cards.

Company card. Company cards are issued to various industrial and commercial enterprises, scientific research and education institutions, state party and government organs, armed forces, organizations and other legal person organizations.

Personal card. Personal cards are issued to individual urban and rural residents, including workers, cadres, teachers, scientific and technological workers, self-employed households and other adult urban and rural residents with stable income sources. The personal card is applied in the name of an individual and bears all the responsibilities for its use.

3. According to the credit status of the cardholder, it can be divided into ordinary cards and gold cards.

Ordinary card. Ordinary cards are issued to cardholders with average economic strength, credibility and status, and the requirements are not high.

Gold card. Gold card is an advanced credit card that pays a high membership fee and enjoys special treatment. Card issuers are institutions with high credit, strong repayment ability, credit or certain social status. The starting point of gold card authorization limit is higher, and the additional service items and scope are wider, so the requirements for related service fees and deposits are higher.

According to different payment methods, credit cards can be divided into credit cards and quasi-credit cards.

Credit card. That is, when the issuing bank provides bank credit, it overdraws first, and then repays or pays in installments. Most of these cards are used for international circulation. In other words, the way to allow cardholders to pay off their credit card accounts is "consume first, then deposit". Most of these cards are used for international circulation.

Quasi-credit card It is a credit card issued by a bank, which deposits first and then consumes. When applying for a credit card, the cardholder needs to deposit a certain amount of money in the issuing bank in advance as a backup. The cardholder needs to use the card on the basis of the deposit balance, and generally no overdraft is allowed.

Credit cards can be divided into international cards and regional cards according to their different circulation ranges.

International card. International card is a kind of credit card that can be used outside the issuing country and is universal. MasterCard, VISACard, AmericanExpressCard, JCBCard and DinersClubCard issued by five overseas groups (MasterCard, Visa International, American Express Card and DinersClubCard) are mostly international cards.

Area card. Regional card is a kind of credit card that can only be used in the country or region where the issuing bank is located. Most credit cards issued by commercial banks in China belong to regional cards.

So much for the introduction of credit card overdue repayment cancellation.