No. The new version of the self-discipline convention provides more specific provisions for banks in terms of information disclosure. For example, the interest accrual rules need to be clearly stated in prominent fonts in the credit card application form, and member entities must be clearly required to provide "timely repayment" services to cardholders.

The so-called "time-tolerant" repayment means that the bank provides cardholders with a certain period of repayment grace period, and the repayment grace period is delayed by at least 3 days from the last repayment date. If the cardholder repays the amount in full within the repayment grace period, it will be deemed to have been repaid on time and no interest will be calculated.

No penalty interest is allowed for underpayment of 10 yuan for tolerance repayment

"Tolerance repayment" refers to the unpaid portion of the cardholder's account after the due date of repayment. When the amount is less than or equal to a certain amount, it shall be regarded as full repayment by the cardholder, and interest will not be calculated on the full amount.

This new version of the "Convention" stipulates an upper limit of 10 yuan for the "tolerance repayment" service, that is, there is no need to worry about "full penalty interest" within 10 yuan.

Industry insiders remind that although the new version of the Convention requires banks to provide tolerance and time-tolerance services, it does not clearly stipulate the full amount of penalty interest. Therefore, if the cardholder repays the card within the time or amount specified in the "Tolerance Time", he may still face the full penalty interest.