Quote:
Originally Posted by Jizzeez
I have a Tokyo Mitsusubishi UFJ Mastercard. It differs to a Western credit card in that you have to pay the balance within six weeks unless you specify that you would like to pay over two or three months when you make your purchase. I wondered if anyone knows what happens if you don't make your payment. Mine is taken by direct debit from my account. I overspent and cannot cover the balance in one month. Is there a way to defer payment for a month? Will they charge me a fortune if I don't contact them? Will my credit rating in Japan be affected? Help! I know I was silly but thought that I would just get charged a bit of interest on the balance like back in the UK. I'm worrying that this could be more serious here in Japan where the card system is different.
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Tokyo Mitsubishi allows you to defer payment to your revolving balance via their online account service...
Which I am guessing you don`t know about and haven`t registered for. I would call them and ask them to move so much to your revolving account ASAP - you can only do it up to so many days before payment is due.
If you do not pay (or rather, if the automatic debit fails), they will send out a postcard to your Japanese address giving you a week or so to make the payment by direct deposit. If you don`t, I believe they block use of the card and send out a certified letter with payment information. I have no idea what happens after that as we have only done the postcard bit (not overspending, but sick with the flu and not putting the money in that account in time...)
I imagine that it WILL effect your credit here. Just paying 2 days late once for us ended with not being able to get a car loan more than 2 years later. Japanese credit operates on the same level as a bank loan - not making a payment falls into the same category as not paying your mortgage or skipping a car payment.