Credit card penalty interest is a punishment for not paying back on the specified date. The charge is generally 5% of the unpaid part of the minimum repayment amount, and it is a one-time charge. This penalty is charged once a month according to the bill, but not every month. As long as the minimum repayment amount is paid off after the repayment date, there will be a charge. Whether it is 1 day or 30 days, it is different from credit card interest, which is calculated by time.
Minimum repayment date calculation formula:
Minimum repayment amount = 65,438+00% of the consumption amount within the credit line (5% in some banks) +65,438+000% of the cash transaction amount borrowed in advance+65,438+000% of the consumption amount exceeding the credit line+65,438+000% of the minimum unpaid amount in the previous period+65.
Note: Consumption within the credit line 10% (5% for some banks): 10% for some banks and 5% for some banks, so it depends on the specific regulations of that bank when calculating!
100% of the cash transaction amount is pre-borrowed, and this part of the bank withdrawal or some bank apps are directly deducted to the savings card.
Exceeding 100% of the credit limit, which is usually called overrun. For example, if you spend 15 thousand on your 10 thousand card, this 5 thousand is over the limit.
100% of the unpaid portion of the minimum repayment amount in the previous period, that is, the unpaid portion of the minimum repayment amount before the current bill, such as the unpaid portion in mid-August and July in the above figure.
The previous installment month 100% is the previous installment or other installments. For example, the previous installment 12000 was 12, and now the bill has to be repaid with 1000 principal and 90 handling fee.
Among them, the expenses include annual fees, late fees, courier fees, loss reporting fees, business card printing fees, production fees, cash withdrawal fees, and residual money collection fees.
For example, the bill of China Merchants Bank A this month is 654.38+million, including 50,000 transactions in that month, 654.38+million installment bills, and 30,000 cash withdrawals. The minimum repayment of the bill last month is 9,000, and other interest expenses are 654.38+million. Then, the minimum repayment amount this month is 50,000 * 10%+ 1 10,000+30,000+1 10,000 = 55,000 yuan, and the minimum repayment amount is 55,000 yuan. On the last repayment date, only 5,000 yuan was paid, and the remaining 50,000 yuan was subject to liquidated damages. Then the amount of liquidated damages is 50000*5%=2500 yuan.