Central bank canceled the credit card late fees overdraft interest rate banks will widen the gap

Updated: April 16, 2016  Views: 12

Credit card overdraft consumption to bring convenience, but also because consumers encounter a small amount of arrears has been assessed 'high late fees' embarrassment. 15, the central bank issued << on the credit card business matters related to notice >> (hereinafter referred to as < <notification >>, officially canceled the credit card late fees, overdraft and credit card interest rates banks may decide within the limit of the range. this will raise the level of credit card services, protect the legitimate rights and interests of cardholders. the notification >> << self from January 1, 2017 implementation.

According to professionals, the city introduced a number of banks, commercial banks head office will notify >> << will be adjusted according to the bank card revenue structure, product strategy, business processes, parameters, etc. For example, notice >> << request to cancel a credit card late fees, the cardholder for breach of overdue repayment behavior, issuers should be charged if the cardholder by agreement, as well as related collection methods and standards. card issuers to provide cardholders with cards over credit line services shall not charge overrun charges. issuers of liquidated damages, and the annual fee charged to cardholders, cash withdrawal fee, currency conversion fees, service fees can not be charged interest.

It is also worth attention included, overdraft interest rates for credit cards, in the past the banks are in accordance with the provisions of the central bank's 5 percent to unify the collection, while the notification >> << management of the implementation of the upper and lower overdraft interest rate credit card, overdraft interest rate cap for the day five ten thousandths interest rates, overdraft interest rate floor for the daily five ten thousandths interest rate 0.7 times the banks out of competition, will widen the gap in overdraft interest rates. when consumers apply for credit cards in the future, may be 'goods than many 'to enjoy more benefits. (reporter Liu Chao


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