Full penalty interest means that after the repayment deadline is exceeded, the card issuer will calculate interest on the cardholder based on the total consumption amount, regardless of whether the credit card has made partial repayments that month.

Penalty interest means that if the principal and interest of the loan cannot be repaid on time, penalty interest will be calculated and charged according to the relevant regulations of the People's Bank of China. The so-called interest-free period refers to the period from the bank accounting date to the due repayment date. If the cardholder's monthly bill date is the 25th, and the cardholder swipes the card for consumption on March 26, the record will be settled on the bill on April 25, and May 15 is the due date for repayment. Cardholders who repay in full can enjoy an interest-free period of up to 50 days. However, the interest-free period is only for cardholders who repay in full on the due date. If they fail to repay the balance in full on the due date, they will not be able to enjoy the interest-free period. Currently, there are two internationally accepted credit card interest calculation methods: one is to calculate interest on the full amount, and the other is to calculate interest on the unpaid portion. Note: Most domestic banks calculate interest based on the full amount.

According to the full interest calculation method, if the cardholder fails to repay the full amount on the due date, even if the difference is only 1 cent, the full amount of the current bill will be charged 0.05%. Daily interest is calculated and compound interest is calculated monthly. Interest is calculated based on the unpaid portion, and you only need to pay the interest on the unpaid portion of the 1 cent, which saves a lot compared to calculating interest on the full amount.

If the cardholder fails to repay the minimum repayment amount before the due repayment date (inclusive), he shall pay the overdraft interest on the amount used from the accounting date to the repayment date, as well as the following: A late payment fee is paid on a percentage of the outstanding portion of the minimum payment. The ratio is stipulated by Bank of China Credit Card, which is 5 of the unpaid portion of the minimum repayment amount. For example, if the cardholder's minimum repayment amount for the current period is 1,200 yuan, but the cardholder only repays 1,100 yuan for the current period, then he needs to pay (1,200-1,100) × 5 = 5 yuan late payment fee.