Article 14 of China Bank Card Industry Self-discipline Convention.
Member units should strive to improve the quality of credit card services, provide humanized services for cardholders, and advocate card issuers to establish "tolerance service and time-tolerant service" for credit card repayment or give interest relief to the repaid part of credit card overdraft during the interest-free repayment period:
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Under normal circumstances, the bank card will be obliged to inform you of the repayment several days in advance.
Article 13 of the China Convention on Self-discipline of Bank Card Industry, member units shall strengthen the public propaganda work on the use of bank cards and risk prevention, and ensure that customers have full right to know and choose the interest, charging standards and related risks of bank card business.
(1) Member units shall strengthen the disclosure of credit card business information, fully reveal the meaning of credit card interest-bearing rules, clearly explain the interest-bearing rules in eye-catching fonts in credit card application forms, and provide calculation rules and simulation cases through publicity channels such as websites;
(II) Member units shall implement the regulatory requirements, choose the credit card interest rate collection method and corresponding preferential measures suitable for their own development according to the actual situation, but shall clearly inform the credit card applicant (or cardholder) of relevant information, so as to ensure that the applicant (or cardholder) can choose and decide whether to accept it according to his own wishes.
(3) The member unit shall remind the cardholder to repay the credit card at least 3 days before the due date of repayment by bills, text messages, emails, telephone calls or letters.
(4) Member units can provide multiple accounting days for cardholders to choose and change, and can limit the number of changes.
After loans overdue, there will be the following consequences:
1. has incurred penalty interest and liquidated damages.
2. Personal credit is damaged
The new version of the credit information update all adopts the mode of T+ 1, which means that once it is judged to be overdue, the credit information center will update the overdue records in the credit information report the next day.
It will also bring many adverse effects to our daily life:
1, affecting personal travel
If personal credit records are blacklisted, for example, those who maliciously default on bank loans will be prosecuted by banks. It will cause borrowers to be unable to fly, stay in star-rated hotels and so on.
2. Affect employment
Some companies will conduct background checks on employees before joining the company. If they find a bad credit record, they may think that this person has integrity problems and refuse to let him work.
3. Affect children's education and daily life.
If parents are included in the list of untrustworthy people, some schools that need political examination may fail to pass the qualification examination of their children, which will more seriously affect joining the army, entering military schools, taking civil servants, institutions and state-owned enterprises.