What does the bank mean to apply for personalized installment after the credit card is overdue?

This is the best solution that the bank has come up with in the process of safeguarding its own best interests.

Under normal circumstances, customers are overdue, indicating that customers are temporarily unable to repay. At this time, the bank will introduce the method of installment repayment. If you choose to repay by installments at this time, it will definitely generate fees and interest, and the bank will earn more fees and interest at this time. However, the operation of the bank under this regulation is very normal, and our repayment pressure will be alleviated to a certain extent, and the bank will also benefit from it.

However, when we repay, we must make it clear that even if we choose overdue installment repayment, credit information will be discredited. Because credit information is a transaction record generated by us on the bank credit card or online loan platform, timely repayment will be recorded on the record. If there is no timely repayment, there will be a record of overdue repayment. Then you will find such a problem when you print the credit report at this time. If the overdue phenomenon is not very serious, then having a credit record will not have much impact on our daily life and travel. However, there are many overdue records, and even if they are not repaid for half a year, it will have a very serious impact on our lives.

Finally, there is the question of whether the credit will be washed away. Personal credit records are kept for life, and when you are 20 years old, overdue records will exist even if you die, so don't take any chances at this time, thinking that paying back the amount can help you clean up your credit information. However, in general, if you apply for a loan from another platform within five years after the overdue record is generated, you may still fail, but after five years, if you reapply for a loan, you may still pass, because personal credit reporting can only be viewed on other platforms within five years. So if you want to borrow it again, you can wait until five years after the account is paid off.