The consequences of bank card SMS reminding arrears

If the bank card SMS reminds you that the arrears are not paid back, there may be the following consequences:

1. Stop SMS service: The bank may stop providing SMS reminder service until the arrears are paid off.

2. Extra charges: Banks may accumulate unpaid SMS charges and add late fees or interest for a period of time.

3. Impact on credit record: Although SMS reminder fee usually does not affect personal credit score, if it is not paid for a long time, banks may take further measures, such as reporting to credit reporting agencies, which may have a negative impact on credit record.

4. Restrict banking services: In some cases, banks may restrict or suspend certain services until customers pay off all debts.

5. Legal proceedings: Although it is rare, if the amount of arrears is large or the arrears are long, the bank has the right to recover the arrears through legal channels, which may lead to legal disputes and additional economic burdens.