how to calculate the interest on the minimum repayment of credit cards?

after the user chooses the minimum repayment, the bank will charge .5% interest on the remaining unpaid part of the credit card from the due date, for example, the original monthly repayment amount is 11, yuan. After choosing the minimum repayment and repaying 1,1 yuan, the daily interest will be .5% 9,9 yuan, that is, 4.95 yuan per day and 148.5 yuan per month. Although the minimum repayment is not overdue, the interest is high and it is only suitable for emergency use.

a credit card, also known as a debit card, is a credit certificate issued by a commercial bank or credit card company to a consumer with qualified credit. It is in the form of a card with the name, expiration date, number and cardholder's name printed on the front, and a magnetic stripe and signature strip on the back. Consumers with credit cards can go to special commercial service departments for shopping or spending, and then the bank will settle accounts with merchants and cardholders, and cardholders can overdraw within the prescribed limit.

The credit card stipulated in the relevant laws of our country (Interpretation of the NPC Standing Committee on the Provisions on Credit Cards) refers to the electronic payment card issued by commercial banks or other financial institutions with all or some functions such as consumer payment, credit loan, transfer settlement, cash deposit and withdrawal. On December 1, 217, the Standard for English Translation and Writing in Public Service Field was officially implemented, stipulating that the English name of the CreditCard standard is Credit Card.

Compared with ordinary bank savings cards, the most convenient way to use a credit card is to make ordinary consumption without cash in the card. In many cases, it is only necessary to return the amount of consumption on time.

you can overdraw your consumption without deposit, and you can enjoy an interest-free period of 2-56 days. You can repay the money on time without any interest (most banks will charge .5% interest on the day of cash withdrawal, and there is a 2% handling fee, while ICBC will charge no handling fee and only interest).

swiping your card while shopping is not only safe and convenient, but also a bonus gift.

special merchants who hold cards in banks can enjoy discounts.

accumulate personal credit, and add a credit record to your credit file, which will benefit you for life.

it is barrier-free to pass through the whole country, and you can withdraw money or swipe your card at ATMs and POS machines with UnionPay logo; (Remarks: Credit cards are only suitable for spending credit cards, and it is best not to withdraw cash, which is very expensive and uneconomical)

Credit card spending, some credit cards taking existing points, and various discounts and lottery activities throughout the year will make you feel pleasantly surprised at all times as long as you use the card; (Most credit cards have no points for online payment, but online shopping payment is very convenient and fast)

Mail the statement free of charge every month, so that you can grasp every consumption expenditure transparently; (environmental protection is advocated now, and the paper statement can be changed into an electronic statement.)

The unique supplementary card function is suitable for the husband and wife to manage their finances together or to master their children's financial expenses.

The freely chosen form of one card and two currencies is popular all over the world, and consumption abroad can repay in RMB.

4 telephones or 5-digit short numbers with the prefix of 9 provide 24-hour service, and the loss will take effect immediately, with zero risk of card loss.

possession validity period: it is known that the validity period of domestic credit cards is generally three or five years.

use the third-party platform (the domestic platform supporting credit card bill management is mainly Jujindou) to conduct business cooperation and provide preferential services for cardholders.

How to calculate the minimum repayment amount and interest of credit cards in China Bank

The calculation method of the minimum repayment amount: minimum repayment amount = consumption amount within the credit line ×1%+ cash advance transaction amount ×1%+ unpaid portion of the previous minimum repayment amount ×1%+ usage amount exceeding the credit line ×1%+ all expenses and interest ×1%. If you fail to repay the loan in full before the interest-free repayment period, the overdraft interest calculated from the transaction bookkeeping date based on the actual amount owed and the actual number of days owed will be collected by installments. The overdraft interest rate is .5 ‰ of the daily interest rate, with compound interest calculated on a monthly basis.

the above contents are for your reference. please refer to the actual business regulations.

if you have any questions, please contact online customer service of Bank of China.

you are cordially invited to download and use China Bank Mobile Banking APP or BOC Cross-border GOAPP to handle related business.

How to calculate the interest on the minimum repayment amount of a credit card

If the cardholder only repays the minimum repayment amount, then the interest-free period cannot be enjoyed. The bank will calculate the interest expense at the daily interest rate of .5% from the day when the user spends. The longer the time, the more interest expense will be generated.

the minimum repayment amount =1% of all general transactions in the credit card account +1% of all outstanding installment transactions in the account +1% of the outstanding part of the minimum repayment amount in the previous period +1% of all the money used in excess of the credit limit of the account +1% of expenses +1% of interest.

the minimum repayment amount is the minimum amount to be repaid in the current month when revolving credit is used, and the minimum repayment amount is listed on the current bill.

1. Minimum repayment amount, that is, the cardholder repays all the payables before the due repayment date (inclusive).

2. In case of difficulties, the repayment can be made according to the minimum repayment stipulated by the issuing bank, which will not affect the credit status of the customer, but it cannot enjoy the interest-free repayment period.

3. The minimum repayment amount of a credit card is generally 1% of the bill amount of the current period. If you choose the minimum repayment, the cardholder can't enjoy the interest-free discount and needs to bear certain interest. The calculation standard is as follows: after the minimum repayment of a credit card, interest will be calculated from the bookkeeping date, that is, interest will be calculated from the cardholder's consumption day, with a daily interest rate of five ten thousandths until it is paid off.

: what about overdue credit cards?

1. when the credit card is unable to repay due to unemployment, illness and other reasons, before the repayment period, the cardholder should take the initiative to get in touch with the bank credit card center, explain his financial situation, declare that he is not maliciously in arrears, and apply for deferred repayment or installment repayment.

2. If the cardholder forgets to repay, he must repay as soon as possible, preferably in full. Call the bank's credit card center to declare non-malicious arrears. If the overdue time is short, the bank may not count bad records.

3. When the cardholder voluntarily applies for deferred repayment, the bank will often agree to postpone the repayment, and the bank and the cardholder will agree on a mutually acceptable repayment plan. In this way, the bank will not record bad records, but it must repay on time after applying for an extension.

4. Credit card repayment information The central bank's credit information system rolls for 24 months, and the record of overdue credit card repayment will be kept in the credit information system for two years. If it is found that the card is directly cancelled after the overdue payment, the information will not roll, but will be kept for a long time. Therefore, after the cardholder becomes overdue, it is best not to cancel the credit card immediately, and it is best to stick to it for more than 2 years, and then maintain a good credit record.

How to calculate the minimum repayment amount and interest of a credit card

If the cardholder does not repay in full, he will not enjoy the interest-free period. For the cardholder who repays according to the minimum repayment amount, the card issuer will only charge the loan interest at the rate of .5 ‰ for the outstanding part every day from the bank bookkeeping date to the repayment date, and the loan interest will be compounded monthly. If the minimum repayment amount can't be paid off by the next account period, the cardholder will pay a late fee of 5% of the unpaid part of the minimum repayment amount in addition to interest.

calculation formula of minimum repayment amount: minimum repayment amount = 1% of the consumption within the credit line+1% of the cash advance transaction amount+1% of the unpaid part of the previous minimum repayment amount+1% of the consumption exceeding the credit line+1% of the expenses and interest.

interest calculation method: if the cardholder chooses the minimum repayment method, the interest will be calculated separately for each consumption. Since there is no interest-free period for the minimum repayment, the daily interest on the unpaid part is calculated at five ten thousandths.

For example:

Xiaoming spent 1, yuan on shopping in a large shopping mall on August 2nd. September 1st is the bank's settlement date. Due to the huge consumption in August, Xiaoxi overdrawn a lot, so she had to pay off part of the credit card debt according to the minimum repayment amount on September 17th, that is, according to the regulations of the card-issuing bank, she only took out 1 yuan and bought part of the bill for the previous 1, yuan. Because there is no full repayment, the interest-bearing formula of the bank is:

145.5+915.5 = 292.5 (yuan)

, where 45 is the duration of arrears of 1 yuan (from August 3rd to September 16th), and 15 is the duration of arrears after the minimum repayment (from September 17th to October).

That is to say, if Xiaoxi didn't use the same credit card during this period, the balance of the bill she will receive will be 9292.5 yuan by the 1st of October. By this time, Xiaoxi's advance consumption of 1, yuan has risen to 1,292.5 yuan. If Xiaoxi can pay off the debt in time after receiving the billing date in October, the debt will not appreciate, but if Xiaoxi continues to repay with the minimum repayment amount, the interest cost will continue to rise.

how to calculate the monthly repayment amount of credit card and the interest of minimum repayment?

1. Calculation method of the minimum repayment amount of each bill: minimum repayment amount =1% for all general transactions in the credit card account +1% for all outstanding installment transactions in the account +1% for the unpaid part of the minimum repayment amount in the previous period +1% for all the money used in excess of the credit limit of the account +1% for expenses +1% for interest.

2. Generally, the minimum repayment amount is 1% of the total bill, and the remaining users can choose to make repayment next month; Usually, although users can alleviate the problem of urgent funds to a certain extent by choosing the minimum repayment amount, and avoid the situation of overdue due to the failure to pay the credit card, thus causing the credit stain, they can no longer enjoy the interest-free period of the credit card when choosing the minimum repayment amount of the credit card, and they have to start paying certain interest on the unpaid part, which is easy to form a vicious circle.

Generally, users can go to Eagle Heart to get a personal credit big data report, check the loan record, whether it is overdue, whether it has been blacklisted, and so on.

Extended information:

What should I do if the credit card is unable to repay

1. If it is only temporarily unpaid, it will only generate interest and late fees.

2. The credit card is really unable to repay. If the bank applies for enforcement according to law after winning the case, the house will be sealed up. Measures such as sealing up, distraining and freezing can be taken according to law to enforce the debtor's property.

that's enough for the introduction of how to calculate the minimum repayment amount and interest of credit cards.