How to calculate the interest-free period of a credit card?

Assuming that your credit card bill date is the 5th of each month and the due repayment date is the 25th of each month, then at different times The length of the interest-free period varies depending on the period of swiping the card:

If you swipe the card to spend 10,000 yuan on October 4, then on the billing day of October 5, the 10,000 yuan will be For bills that are credited to October (specifically, the billing cycle from September 6 to October 5), the account should be repaid on October 25.

Therefore, the longest interest-free period that cardholders can enjoy is 21 days; if a card consumption of 10,000 yuan is made on October 6, because it exceeds the statement date of October 5, then the 10,000 yuan will be Yuan will be credited to the bill for November (specifically, the billing cycle from October 6 to November 5) on November 5, and the account should be repaid on November 25. Therefore, the maximum interest-free period that cardholders can enjoy is 50 days.

If you swipe your card before the bill date, you may enjoy a shorter interest-free period (the closer you swipe your card to the bill date, the shorter the interest-free period); if you swipe your card after the bill date, you may enjoy the interest-free period. The period is longer (the closer the card is swiped to the statement date, the longer the interest-free period).

What does the interest-free period of a credit card mean?

For non-cash transactions with a credit card, it is the period from the bank recording date to the generation of the single-day statement for this consumption to the repayment date. , as long as you pay off the current period's repayment amount (total amount owed) in full on the current statement, you do not need to pay any interest on the funds advanced by the bank to the store for non-cash transactions (cash advances do not enjoy the interest-free discount) ).

How is credit card interest calculated?

Credit cards generally have a 30-day interest-free period. As long as consumers pay off their balances within the interest-free period, no interest will be charged. If a consumer is overdue, interest is generally calculated at a daily interest rate of 0.05. If the consumer is overdue for more than 30 days, some banks will calculate interest at a daily interest rate of 0.1.

If a consumer uses a credit card to spend 10,000 yuan overdue, the interest that needs to be paid every day is: 100,000.05 = 5 yuan, which is 150 yuan per month (calculated as 30 days). In general, it needs The interest paid is very high, so it is recommended not to be overdue easily.

What are the precautions for using credit cards?

1. Do not disclose personal information to others easily, including your ID number, bank code and other information, and do not use your bank card , give the credit card to others for use. If you have any doubts and need to report a crime, please go to a bank or other financial department for consultation in person or report the crime to the local public security agency. Do not call the phone number provided by the suspect to report the crime.

2. Pay attention to safe use of online banking. Install necessary anti-virus, anti-Trojan software and online banking security controls, make sure you are logging in to a real bank website, do not easily accept unfamiliar files, and do not easily use other people's computers to log in to online banking.

3. Be vigilant when using self-service banking. At present, the doors of self-service banks have been gradually transformed into button-opening doors. When withdrawing money from self-service banks, if you find suspicious devices or prompt messages such as "Press password to confirm" at the entrance and exit of self-service banks, do not swipe your card or enter password, and promptly Report to banks and public security agencies.

4. Be careful to separate the card and ID card. Many people put their ID cards and bank cards together in life. Once lost or stolen, the cardholder's funds are highly likely to be lost.

5. When swiping a credit card for consumption, you must confirm whether it is a UnionPay POS machine. After swiping the card, you must sign the shopping settlement statement. At the same time, you must also pay attention to whether there are repeated problems and prevent the returned bank card from being used. Transfer package. In addition, the signature style should be as consistent as possible with the signature on the card.

How to calculate the interest-free period for Bank of China credit cards?

The interest-free repayment period refers to the period from the transaction date to the due repayment date stipulated by the card issuer for a non-cash transaction. time period.

The maximum interest-free period for a Bank of China credit card is 50 days. The length of the interest-free period varies depending on the date of payment. Spending on the day after the bill date can enjoy the longest interest-free period. Taking the 7th statement day as an example, 5 If you consume on the 8th of the month and the bill is on the 7th of June, you can enjoy a 50-day interest-free repayment period (from May 8th to June 27th).

1. You can check your billing date and repayment date through Bank of China Credit Card Online Banking, Bank of China Credit Card Statement, and Bank of China Credit Card Customer Service Hotline

2. Minimum repayment and Credit card cash withdrawals cannot enjoy interest-free treatment.