Credit card overdrafts require interest.

Different banks have different regulations on charging interest on credit card overdrafts, and the interest rates will also be different depending on the amount of your overdraft. All banks charge fees for cash withdrawals with credit cards, and if it is an overdraft withdrawal, there is no one-day interest-free period. In this way, cardholders not only have to pay tens of yuan in handling fees, but also pay overdraft interest of 0.5% per day.

Generally, what is the reason for charging interest on credit card overdrafts? Different from the nature of withdrawals on debit cards, overdrafts on credit cards already belong to "loans in banks, and of course the loans have interest."

Credit card overdraft interest will be calculated at a daily interest rate of 0.05% within 15 days from the date of signature or bank accounting (including the current day), and a daily interest rate of 10% for more than 15 days, and a daily interest rate of 10% for more than 30 days. Or if the overdraft amount exceeds the prescribed limit, the daily interest rate will be calculated at 15%. Overdraft interest is not calculated in stages, but is calculated based on the highest interest rate bracket for the final term or the maximum overdraft amount.

Take a card purchase of 50,000 yuan as an example. If there is a period of 45 days from the accounting date to the repayment date, and the cardholder repays 40,000 yuan on the repayment date, the remaining 10,000 yuan has not been repaid on time. If you hold a card from China Construction Bank or China Merchants Bank, you need to calculate interest at a rate of 50,000 yuan per day based on 50,000 yuan, and you need to pay overdraft interest of 1,125 yuan within 45 days; if you hold a credit card from ICBC, you only need to pay For the overdraft interest on the unpaid 10,000 yuan, the overdraft interest to be paid within 45 days is 225 yuan, a difference of 5 times. If the failure to repay the loan on time is not due to the inability to repay, but due to a very small error due to misremembering, the difference is even greater.