Credit card late APR must not exceed 24%! Three tips to help you avoid being late!

With the popularity of credit cards, credit cards have really made our lives more and more convenient, but at the same time, the overdue problem brought about is also becoming more and more serious. Data show that in the first quarter of 2018, the total amount of credit cards overdue for six months of outstanding credit has reached 100 million dollars. So what are the new regulations in the face of the increasing amount of overdue? What can we do to try to avoid overdue?

One, the credit card overdue APR shall not exceed 24%

The high amount of overdue amount of overdue fees brought about by the high overdue fees so that many people have the money can not afford to pay back, we should often read the news to see such as "credit card overdue APR of 78%" and other scary figures. In this regard, in order to avoid this high overdue interest rate, the highest ++ on June 6, 2018 issued "on the trial of bank card civil + + + case of a number of issues in the provisions", clearly stipulates that: for credit card overdue interest rates, the highest + + + with reference to the relevant provisions of the private lending, interest, penalties and liquidated damages for interest, the total amount of default exceeds the part of the annual interest rate of 24% will not be supported! That is, in the future, even if you are overdue, credit card overdue maximum annual interest rate shall not exceed 24%, so that the pressure of everyone to pay back a lot of relatively small!

Second, to avoid credit card overdue tips

While the credit card overdue maximum APR has new norms, but if you can not overdue, you will not be troubled by overdue. So what can we do in our usual credit card spending to try to prevent ourselves from being late? This will teach you a few tips!

1, the minimum payment

If you currently do not have enough money to repay, you can choose to pay the minimum payment, just pay off the minimum payment on the repayment date can be, the major banks of the minimum payment is generally only 10% of the bill amount. This method is the first choice for short-term cardholders who can't pay their debts in an emergency!

2, open the time tolerance service

Now many banks have credit cards with time tolerance service, some banks will open this service for you directly, but some banks need to apply for opening, therefore, when you get a credit card, be sure to consult the customer service to confirm. This service is for cardholders within a certain amount of money, over a certain period of time beyond the repayment date, is still considered normal repayment, no longer charge late fees and penalty interest.

3, usually spend money with a plan

Of course, the most important thing is that you have to do in the usual process of card spending to do the heart, do rational consumption. This can control their own desire to spend to a certain extent, to avoid excessive brush card, resulting in the occurrence of overdue. Therefore, we must bear in mind not to overspend!

Credit card theft busting process

1, lost. No matter which way you find your credit card stolen, the first step to take is to immediately call the bank's customer service number and hang up. In fact, it is the loss of the most important thing, so that you can enjoy the lost card protection services introduced by the bank.

2, to the ATM machine to check the money. After the loss of the card, you do not have to replace the card first, but to the nearest ATM machine to understand, their credit card balance, at the same time, this is still late to prove that the card is in your body and where you are the most favorable evidence, because the bank can access your query record and video, can prove that you are not in the moment of the crime, and the card is also in the body.

If you don't have a bank or ATM nearby, you can also find a supermarket or convenience store, swipe a pen to spend money, and keep the receipt to prove that the card was indeed on your person at the time.

3. Report it to the police. Usually, they won't accept a report at the police station, and they'll pass the buck to each other. Cardholders can go directly to the police station that belongs to the card issuance center in the city where the card was applied for, or call customer service and ask them to provide you with the area they belong to if you're not sure where they belong. The purpose of the report is to help you in the bank's refusal to pay the application process to increase evidence, increase the possibility of refusal to pay the application of success.

4. Contact a lawyer immediately to minimize the possible risks. Don't worry that contacting a lawyer will take too much time. In a simple case, a lawyer can usually clarify the ins and outs and give you appropriate advice within 5 minutes.

5. Ask the bank to give important documents. Find a location with a fax machine, use the fax machine phone to call customer service again, and ask customer service to help you fax two important documents. "Affirmation of Account Inquiry" and "Additional Instructions for Non-Personal Transactions".

6, according to the agreed time to repay. Many people will think that the payment belongs to theft, not their own consumption; or dissatisfied with the bank's processing results do not repay, which will expand their losses to a certain extent.

Expanded:

Recently, Tianquan Public Security Bureau, Yongxing Police Station successfully cracked a credit card + + case, captured the suspect Yang Mouhao (Male) , 12 years old, Tianquan people).

Recently, Yongxing Police Station received a report from Zhou Mouming, a villager in Zhangjia Village, Renyi Township, Tianquan County, that 23,123.98 yuan had been stolen from his credit card. After investigation, Zhou Mouming's son Zhou and the suspect Yang Mouhao is a friend, Zhou borrowed Yang Mouhao's QQ account binding a credit card, after the use of forget to unbind.

May 20, Yang Mouhao accidentally found its QQ bound to this credit card, can be used through the QQ wallet payment, so Yang Mouhao in the period from May 20 to June 3, through the 88 QQ payment for the purchase of the glory of the king, the clash of clans skins, props, etc., the amount of stolen brush*** counted 23123.98 yuan.

At present, because the suspect is a minor, the police through the education and criticism of his family to bring back, and to assist Zhou Mouming to recover the cash. June 27, Zhou Mouming for the police station to send a "thunder attack, solve the case of the speedy" brocade banner.

Sichuan News - Credit card stolen brush more than 20,000 yuan Tianquan public security timely recovery

2018 credit card jail case what

2018 credit card jail case

Using credit cards more and more people, the use of credit cards, the use of credit cards after the occurrence of overdue, the event of arrears is also more and more common! , and there are even people who will be jailed for improper use of credit cards, we often see the news of credit card jail, which is really not to scare everyone, here I give you a few 2018 credit card jail real cases.

1, credit card user Li Mou, use credit card overdraft 50,000 yuan, not according to the credit card regulations to repay the arrears, only 200 yuan per month, the bank to the Ninghua County Procuratorate in Fujian Province, credit card user Li Mou filed a public prosecution. ++ It was held that Li had the purpose of illegal possession and that his behavior had constituted the crime of credit card ++. Therefore for credit card ++ crime on Li mou sentenced to eight months ++++ one year probation, and a fine of 20,000 yuan.

2, credit card user Shen Moumou, stole a friend's credit card, ATM cash, POS machine for cash, was ++ to the people of Tongzhou District, Nantong City, People's ++ due to Shen Moumou fraudulent use of other people's credit cards, and the amount involved in a large amount of money, has constituted the crime of credit card ++. Therefore ++to credit card ++crime on Shen sentenced and fined, Shen will face three years ++++, four years probation, and 30,000 yuan fine.

Credit card overdue will be the bank ++

In life credit card use is very common, credit card use good will bring convenience to everyone's life, but if not properly used, will bring many adverse consequences to the cardholder. According to the regulations, credit card overdue time reaches more than three months, credit card users may be bank ++. Generally the amount of credit card debt as long as it is not large, then the bank will not be easy ++ for overdue users. Bank ++ credit card users also have a process, usually after the occurrence of overdue, the bank will be on the user to collect, if in the collection of 2 times, the overdue bank is still not repaid, and overdue more than 3 months, then the bank can ++ credit card users, as long as the arrears reached more than 5000 yuan, after the bank to call for the repayment of the loan, then can be regarded as a malicious overdraft of the cardholder, the credit card overdue users There is a possibility of imprisonment, so we must be good credit card.

America's big credit card crisis: 50 million people have had their credit card accounts closed or their limits reduced

Comprehensive CBS and CNN reports: in the past 30 days, a quarter of Americans, about 50 million, have had their credit card limits reduced, and many of the credit card accounts have even been closed.

It has always been a golden rule for lenders to give away umbrellas in sunny days and take away umbrellas in rainy days, and at a time when people are strapped for cash flow because of job losses, when 4 million people have cut off loans on their homes, and when more than 10 million can't afford to pay their rent, and are looking forward to using their credit cards to get through the hard times, U.S. credit card organizations have tightened their lending limits.

The nation's credit card debt totals about $1.1 trillion and has been growing steadily since 2015, the Federal Reserve Board (Fed) said.

And Americans are known as a nation supported by credit cards, with an average of two credit cards per U.S. resident, for almost all of life's needs, such as shopping, utilities, dining, and traveling.

The bad news is that a very large number of Americans use their credit cards to make installment purchases of cars, homes, or other expensive goods, and they pay back only the minimum payment each month.

That is to say, Americans are overdrawn and overspending, they have very little cash in hand and are relying on so-called credit, borrowing to get by.

Once their credit card limits are limited or their accounts are closed, it will have an irreversible impact on the average American's credit, which could cut off the cash flow of the average American, affecting their daily consumption of food, clothing, housing, transportation, etc., and even more so, because of their defaults, leading to the emergence of a '2008 subprime mortgage crisis' like a Great Credit Card Debt Crisis.

Jill Schlesinger, a senior business analyst at CBS, described the fact that the number of people defaulting on their credit card payments reached its highest level in seven years prior to the New Crown Virus, and that many credit card accounts were not paid in full for a long period of time."

Schultz added: At this point, there are no definitive statistics on how much credit card limits are being eliminated, but it's also safe to predict that thousands of dollars will be eliminated per credit card.

The news of 50 million people having their credit card limits eliminated shocked the United States. It's similar to the 350 million people in China who have had their mortgage lines whittled down or canceled outright.

Same with credit cards, why do some people get poorer while others get richer?

Credit cards are certainly no strangers to us, and as of the end of 2020, the total number of credit cards issued in our country exceeded 800 million, with 0.57 credit cards per capita.

Excluding some non-credit-card specific groups, it's not unusual for young people to have a few credit cards in their hands.

Recently, one of the hot news about credit cards is that from now on, there will be no upper or lower limit on the interest rate of credit cards, and it will be entirely up to the commercial banks to decide on their own.

This is a positive sign, we all know that the original credit card cash, default interest rate is generally five ten thousandths of a cent, that is to say 10,000 dollars a day to the bank 5 dollars, the annualized interest rate of 18%.

And now it's different, differentiated pricing is taking shape, especially for the bank's premium customers, allowing us to use our cards with more confidence.

The topic I'm discussing with you today is also closely related to credit cards. I've always said that credit cards are a double-edged sword, and I've seen a lot of people go down in flames because of their use of credit cards.

There is a wrong example, there is a right example, why some people the more they brush the credit card the poorer, while some people are more brush the more money? We can learn what to do in these areas.

Credit cards generally have a minimum of 20 days and a maximum of 50 days of interest-free period, but many of my friends do not really enjoy the maximum of 50 days of interest-free gap.

The main reason for this is the result of not planning the credit card swipe date wisely.

The credit card's billing date is the date when all the purchases from the previous period are summarized, and then the customer is told the total amount spent, and the customer just pays the money in before the latest repayment date.

So spending the day after the billing date is the perfect date to take advantage of the maximum interest-free period.

Of course, there's no way to accurately predict when we'll need to spend, and that's a different story. But we can set our fixed monthly expenses to be spent on the day after the billing date, such as monthly utility bills, property taxes, and so on, which can add up to a pretty big chunk of money.

There are also some friends who are ready to renovate or buy a car, the date of the credit card is naturally selected on the second day of the billing day best, this part of the funds even if it is placed in the balance of the treasure, 50 days can bring a lot of income, why not!

Additionally, after the bill, friends should also prepare enough repayment funds in advance, so as to avoid the final repayment day because of insufficient funds, resulting in a mess or even affect the credit.

Every bank, more or less in order to promote their own credit card, always develop a variety of preferential activities, some activities can even be said to be a free money.

For example, if we need to refuel every week, we can take part in the refueling discount or discount activities; for example, if we go to the movies once in a while, we can get a second 10 yuan to watch a movie; for example, if we go out to the restaurant, we can get a 50% discount on the meal ticket, and so on and so forth.

As long as we pay more attention, understand the public number or push, you can always find suitable for their own activities, those who should be the normal expenditure of consumption, enjoy the discount, then save is to earn.

In addition to woolgathering, each credit card after consumption have points, and this points are also useful.

Credit card points accumulated to a certain level, you can go to the points mall to exchange the desired gift.

I had my eye on a car vacuum cleaner from the points mall some time ago, and I had just enough points to buy one online, which I redeemed for free.

There is a wide range of products in the points mall, there must be something you like or need, with the goal to accumulate more points, early to redeem the goods home it.

Even if you don't have a favorite item, you can still redeem your points for phone bills, rechargeable cards, airline miles, etc., all of which are earning us money.

While banks are now able to set their own prices and are not subject to the five-tenths-of-a-million-percent regulatory rate, they are still businesses, and profit-making is the fundamental purpose of a bank.

If you've been in good standing before and only occasionally late, the bank may still be able to cut you some slack.

No late fee is impossible, I guess a 50% discount or something, according to the annualized rate of 18% discount, or bear the interest of 9%.

If you've always been just a horse and buggy professional, then the late fee pricing may be even higher, think about what loans will now have 18% interest, equal to using a credit card is to work with the bank.

So, for those who use credit cards on a daily basis, be sure to plan your money well and never be late.

It's really because ++++ can't come, you should also call your bank in advance to make installments and enjoy discounted installment rates, which are still much more cost-effective than paying late fees.

And late payment will also lead to a bad record of one's credit, affecting one's ability to do other business with financial institutions in the future.

I have a friend who, because of a poor credit record, got a mortgage with a 10 percent higher interest rate than others, which works out to a total of 30 years*** to pay 100,000 more than others.

Said here, I think friends can go against their own card habits, check and fill in the gaps, timely correction, but also understand how to make their more brush the more money it.

(Thank you for your attention, look forward to your message and discussion, hope to bring you help!)

Why do young people nowadays basically not have credit cards?

Because there may be the following bad things about getting a credit card:

1. Cardholders develop bad spending habits.

2, some of the cardholders just started credit credit card is quite good, but because the credit card to spend the credit limit, in the time of spending the cardholder does not feel that it is in the repayment of money, so that the user spends more and more, more and more swipes, until the day of repayment, only to respond to the overspending of their own consumption, if the credit card users for a long time are in such a spending pattern, then it will cause a greater If the credit card user has been in such a spending pattern for a long time, then it will create more pressure for him to repay the loan and he may become a card slave.

2, credit card users usually do not pay attention to card security, resulting in economic losses

Online often about credit card theft news, if the cardholder does not take good care of their own credit card + + +, security codes, passwords, then there may be a card stolen, which will cause economic losses to the cardholder.

3, because the credit card late and affect personal credit

Using a credit card consumption, the user should be in the specified repayment period to repay the arrears, if accidentally late behavior, then the bank will be the user's late record uploaded to the central bank credit system, will give the cardholder's personal credit to leave a stain, if the personal credit is bad, then the later to buy a house, buy a car may be affected.

Extension

Extended information

1, how to correctly use the credit card?

1 the correct use of credit cards:

1, the appropriate amount of reduction. If the amount of credit card issued is not proportional to their salary income, it is recommended that the cardholder should do a reduction in the amount. The amount of money spent each month should be no more than one-third of your income. The reason for this is that most graduates do not have the concept of sensible consumption for the time being, and have tasted the sweetness of overdraft consumption, which makes it easy for them to become card slaves.

2. Set up a monthly credit card spending budget. You can set a budget for your monthly credit card spending to prevent overspending.

With less than 5 years of work, 3 credit cards are the best.

With less than 5 years of work, office workers have a stable income, a steady job, and a certain amount of savings in their hands, so they can start storing up money for the future purchase of real estate and vehicles. It is also possible to purchase some luxury goods appropriately. At this time, it is best to hold 3 credit cards.

The correct use of 3 credit cards:

1, set up a credit card spending budget. This part of the needle for the future purchase of real estate, vehicles intended for office workers, set up a credit card spending budget can help cardholders better rational consumption.

2, set up repayment reminder. 3 credit cards in hand, will inevitably forget the repayment time, it is recommended that each card to set the repayment time, and the time should be set to the last repayment date of 3 days for the best.

High-income, high-position entrepreneurs, executives, then please feel free to brush it.

That's enough credit card news talk for now.