Causes of Bad Credit Card
Credit card bad refers to due to some reasons, malicious credit card, or the card did not pay on time and timely, what is more, direct non-payment, resulting in credit card arrears more and more, resulting in irreparable losses, can not repay the credit card fees behavior, the general system will be recorded as bad credit card.
Causes of bad credit card
1, Cannot repay the overdraft limit.
Because of the low threshold for banking institutions to handle personal credit cards, some insolvent groups have credit cards, but after excessive consumption can not repay the loan on time, resulting in a bad record of credit cards.
2, Credit card cancellation is not complete.
Although some people sell cards at the counter, but because of the lack of communication with the inter-bank, no telephone confirmation, so that some cards did not really write off, and generated an annual fee, but these users do not know that also need to pay an annual fee, so ignore this problem, and ultimately led to the formation of bad credit card records.
In fact, there will be a 45-day cancellation period for applying for a credit card cancellation. During this time, if the credit card is spent again or other economic activity will cause the write-off to fail. So after applying for cancellation, call the bank after 45 days to confirm that the card is cancelled. Many users log off their cards and throw them away directly, but this is not safe. Because, the magnetic strip on the credit card is easily copied leading to the disclosure of personal information. Therefore, you should cut the magnetic strip and then throw the logged-out card.
3, Personal information is stolen.
Because of the theft of personally identifiable information, in the relevant cardholders without their knowledge of the credit card, and in its name to swipe the card consumption, which will lead to bad records;
4, Use a credit card for malicious overdrafts and non-reimbursement.
Some people in order to pursue enjoyment, malicious overdraft credit card or take a cash-out approach, so that they ultimately can not repay, resulting in the formation of bad records.
5, Apply for a high-end card
High-end cards are generally mandatory annual fees, so when choosing high-end cards must understand the card's charges. Some cards can be reduced annual fees but the annual fee offset standard is higher than gold cards. It is important to note that some annual fee deductions require that there are points to be redeemed. So to understand their credit card annual fee standard, corresponding to the swipe card.
In special cases, the reasons for bad credit with a credit card are:
1, credit records are repeatedly queried, loans are not successful or there are inactive credit cards, the next time the credit occurred, the bank will actively query these records, if the short-term by a number of banks to query the credit record, the bank may judge you recently urgently need to use money, your credit application and credit will also be affected.
2, the guarantee error, as a third-party guarantor for other people to guarantee the loan, and the lender appears overdue and other circumstances, the guarantor will bear joint and several liability, personal credit will also appear bad record.
3, spouse credit problems, if the husband and wife did not divorce, to one of the husband and wife loans and credit cards to produce overdue, and refused to repay, the other spouse has a joint repayment obligation, the credit will also be affected.
