The minimum credit card payment is 10% of the bill amount. The minimum repayment amount means that if the credit card holder is unable to repay the entire amount due on the repayment date, he or she can repay 10% of the minimum repayment amount stipulated by the card issuer. This can avoid overdue effects on personal credit. However, Cardholders cannot enjoy interest-free repayment, and usually the minimum repayment amount will be shown on the monthly statement.
Specific regulations:
1. For most credit cards, the minimum repayment factor is generally 5% or 10% of the current consumption amount (depending on different banks). The current bill Calculation method of the minimum repayment amount
2. The consumption amount within the credit limit * proportional coefficient (5% or 10%) + 100% of the annual fee + 100% of the cash advance transaction amount + the minimum repayment in the early period 100% of the unpaid portion of the amount + consumption amount exceeding the credit limit * proportional coefficient (5% or 10%) + other fees and interest * proportional coefficient (5% or 10%).
3. A simple general formula: minimum repayment amount = 10% of the consumption within the credit limit (most banks are 10%, and some banks are 5%) + cash advance transaction amount 100% + 100% of the unpaid portion of the previous minimum repayment amount + 100% of the consumption amount exceeding the credit limit + 100% of fees and interest. Note: Repayment based on the minimum repayment amount will be charged full penalty interest (except ICBC) , the consumption on the current bill will be charged compound interest of 0.5% every day from the date of consumption.
4. Therefore, there is no need to apply for the minimum repayment of a credit card. When the repayment amount is greater than or equal to the minimum repayment amount stipulated by the bank, the default is to pay the minimum repayment; after the minimum repayment of the credit card is paid, you will not be able to enjoy Interest-free treatment is provided, and the interest is calculated at 0.5/10,000 per day; only the minimum repayment amount is paid, and interest-free repayment is not enjoyed. All transactions in the current bill will accrue interest from the recording date, and the daily interest is 0.5/10,000. The minimum repayment amount will be shown on the monthly bill, and no special application is required. If it is overdue for more than 3 days, it is recommended to contact the credit card to manually confirm the specific minimum repayment amount before repaying.
Legal basis: "Criminal Law of the People's Republic of China"
Article 196: The crime of credit card fraud and theft involves one of the following circumstances: credit card fraud activities , where the amount is relatively large, the sentence is to be not less than five years in prison or criminal detention, and a fine of not less than 20,000 yuan but not more than 200,000 yuan; A fine of not less than 10,000 yuan but not more than 500,000 yuan; if the amount is particularly huge or there are other particularly serious circumstances, the sentence shall be not less than 10 years in prison or life imprisonment, and a fine of not less than 50,000 yuan but not more than 500,000 yuan, or property confiscation:
(1) Using a forged credit card, or using a credit card fraudulently obtained with false identity certificates;
(2) Using an expired credit card;
(3) ) Pretending to use other people’s credit cards;
(4) Malicious overdraft. The term "malicious overdraft" as mentioned in the preceding paragraph refers to the cardholder's behavior of overdrafting beyond the prescribed limit or within the prescribed period for the purpose of illegal possession and failing to return the card after being called upon by the card-issuing bank. Anyone who steals a credit card and uses it shall be convicted and punished in accordance with the provisions of Article 264 of this Law.