How to calculate the credit card repayment date?

Hello, if you hold a China Merchants Bank credit card, the credit card has a specified billing date and repayment date, and the repayment period has a cycle. The "billion date" refers to the cumulative unpaid balance of the card issuer to the cardholder every month. The principal of consumption transactions, the principal of cash withdrawal transactions, fees, etc. are also summarized, the interest is calculated, and the date on which the cardholder should repay the amount is calculated. "Repayment due date" refers to the last date stipulated by the card issuer when the cardholder should repay the entire amount due or the minimum repayment amount (the consumption amount can be repaid before the due repayment date, and the payment must be made no later than the due date). Just pay it back to your credit card before 24:00 on the day of payment). For example: If the 5th of each month is the billing day and the 23rd of each month is the repayment day, then the consumption from the 5th of the previous month to the 4th of this month will be repaid on the 23rd of the month. You can call your credit card to manually confirm the billing date and repayment date of your credit card.

When is the credit card repayment date?

The credit card repayment date is basically 20 or 25 days after the credit card statement date.

A credit card, also called a credit card, is a credit certificate issued by a commercial bank or credit card company to consumers with qualified credit. It takes the form of a card with the issuing bank's name, validity period, number, cardholder's name and other contents printed on the front, and a magnetic stripe and signature strip on the back. Consumers holding credit cards can shop or consume at specially designated commercial service departments, and then the bank will settle the accounts with merchants and cardholders. Cardholders can overdraft within the prescribed limit.

Credit cards stipulated in the relevant laws of our country ("Interpretation of the Standing Committee of the National People's Congress on Relevant Credit Card Regulations") refer to credit cards issued by commercial banks or other financial institutions with the functions of consumption payment, credit loans, transfer settlement , cash deposit and withdrawal and other full or partial functions of the electronic payment card.

On December 1, 2017, the "English Translation and Writing Standards in the Public Service Field" was officially implemented, stipulating that the standard English name of credit cards is CreditCard.

The credit card payment due date refers to the last date on which the credit card issuing bank requires the cardholder to return the amount due. That is to say, after the card-issuing bank issues the bill, you should pay off all the fees you have consumed before the due payment date.

In fact, the due payment date is the last day of the interest-free repayment period. Repayments before this are interest-free. Overdue interest and late payment fees will be charged. The interest-free repayment period is different for each bank. For example, for a Bank of Communications credit card, the statement date is the 10th of each month, and the due date for the statement on May 10, 2009 is June 4.

Attention:

The due payment date is also called the final repayment date. If you do not repay in full before the due payment date and do not choose the minimum payment on your credit card, If you repay the amount, the penalties you may face are:

1. All consumption payments will no longer enjoy the interest-free repayment treatment. The bank will use the consumption amount as the principal from the day when the consumption occurs. Calculate interest, with a daily interest rate of 0.05%, and compound interest on a monthly basis;

2. Receive a reminder call and letter from the bank;

3. Freeze your account And your debt record will be fed back to the People's Bank of China and recorded in your credit file, affecting your personal credit;

If you really do not have enough money to repay in full on the due payment date, then Please choose the minimum repayment amount of your credit card for repayment. In this way, you only need to repay 10% of the total fee in each installment. In this way, although there is no interest-free repayment period, your personal credit will be avoided.

The credit card has arrived. I made a purchase today. When will I pay it back?

The amount consumed by the card on the credit card repayment date will be repaid on the next repayment date.

1. Credit card repayment means that when the cardholder’s credit card consumption reaches the final repayment date, in order to ensure the cardholder’s good credit record, the repayment amount is brushed out and the funds are returned to the bank. . Although the biggest feature of a credit card is its overdraft function, it actually constitutes a loan relationship between the customer and the bank. Failure to repay when due may not only result in legal consequences, but also bear high penalties and interest, and most importantly, may cause Bad records.

2. The repayment methods mainly include: card issuing bank counter, ATM, online banking, automatic transfer, telephone banking repayment, etc. After repayment, the credit card limit will be restored immediately, and the payment will generally be credited to the account after the system processes it on the same day.

3. The mobile phone is a personal payment terminal of the mobile financial system. It can be used to pay directly by swiping the card, and can also perform transfers and other services. Instant payment!

4. Convenience store repayment Convenience store repayment is mainly completed through the "Lakala" smart payment terminal installed in the convenience store. It usually takes 2 to 3 working days to arrive in the account, and there is no handling fee for repayment using this method.

5. The more common domestic online repayment methods include: Baidu Wallet, UnionPay Online, Kuaiqian, Shengfutong, Alipay, Yipay, etc. Depending on the platform and bank you choose, the charging standards and specific payment arrival time will be different.

6. Inter-bank transfers/remittances and repayments are mainly divided into two methods: inter-bank inter-bank in the same city and inter-bank inter-bank in different places. Regardless of the method of transfer or remittance, the remittance bank will charge a certain fee. At the same time, the time it takes for the money to arrive and the convenience of repayment are not as good as intra-peer repayment, online repayment, convenience store repayment and other methods.

7. The consequences of overdue credit card repayment will be serious, so overdraft consumption should be moderate. Although the biggest feature of a credit card is its overdraft function, it actually constitutes a loan relationship between the customer and the bank. Failure to repay when due may not only result in legal consequences, but also bear high penalties and interest, and most importantly, may cause A bad credit record will have a negative impact on your future work and life. Consequences of overdue credit card payments.

8. Bearing high penalty interest After a credit card defaults, the penalty interest fees usually involved are recurring interest fees and late payment fees. Revolving credit is essentially a small, unsecured loan that accrues interest on a daily basis. If the full amount is not repaid on the final payment date, revolving credit interest will accrue on the next statement, and the interest will be charged from the date the consumption is recorded. Calculate interest.

How long does it take to repay the money after using the credit card

The credit card repayment period is calculated based on the billing date of the credit card and the date of consumption using the credit card, and is not fixed.

The bank will inform you of the billing date when issuing the card, and each bill will also have a billing date. The repayment period varies from bank to bank. Generally speaking, it is 18 to 25 days after the statement date. The shortest is 18 days for China Merchants Bank and the longest is 25 days for Industrial and Commercial Bank of China.

The period from the date of consumption with the credit card to the billing date plus the repayment period is the date when you can enjoy interest-free repayment. According to this calculation scheme, consumption on the day after the bill date can enjoy the longest interest-free repayment period, and consumption on the day before the bill date can enjoy the shortest interest-free repayment period. Generally speaking, the interest-free repayment period of credit cards ranges from 20 to 50 days.

The common domestic credit card repayment methods mainly include the following categories (according to the level of fees):

In-bank repayment

This repayment method mainly includes: card issuance Bank counter, ATM, online banking, automatic transfer, telephone banking repayment, etc. After repayment, the credit card limit will be restored immediately, and the payment will generally be credited to the account after the system processes it on the same day.

Mobile repayment

The mobile phone is a personal payment terminal of the mobile financial system, which can be used to directly repay the loan by swiping the card, and can also perform transfers and other services. Instant payment!

Convenience store repayment

Convenience store repayment is mainly completed through the "Lakala" smart payment terminal installed in the convenience store. It usually takes 2 to 3 working days to arrive in the account, and there is no handling fee for repayment using this method.

Online repayment

The more common online repayment methods in China include: Baidu Wallet, UnionPay Online, Kuaiqian, Shengfutong, Alipay, Yipay, etc. Depending on the platform and bank you choose, the charging standards and specific payment arrival time will be different.

Inter-bank transfer

Inter-bank transfer/remittance repayment is mainly divided into two methods: inter-bank inter-bank in the same city and inter-bank inter-bank in different places.

Regardless of the method of transfer or remittance, the remittance bank will charge a certain fee. At the same time, the time it takes for the money to arrive and the convenience of repayment are not as good as intra-peer repayment, online repayment, convenience store repayment and other methods.

Counter Pass

Counter Pass refers to the bank cards issued by various networked financial institutions. RMB current deposits can be made through the counters of other bank branches registered in the UnionPay Exchange Center host system. Withdrawal transactions.

Lakala

Cardholders can complete credit card repayments, mobile phone recharges, online bill payments and other services through convenience stores, bank outlets or purchasing "Lakala" device terminals.

Xinfutong

The "Xinfutong" smart card swiping phone was independently developed by China UnionPay, certified by the Bank Card Testing Center, and provided with financial service support by China UnionPay's inter-bank information exchange network of innovative electronic products.

Repayment Tong

Use "Repayment Tong" to repay, and the fees are generally charged according to the fee standards for intra-city inter-bank transfers and long-distance inter-bank remittances stipulated by the local People's Bank of China.

Intelligent repayment

The new industry, its main function is to use the balance of about 5-10% in the card to formulate a consumption and repayment plan and then execute automatic payment through a licensed payment company The purpose of recurring consumption repayment is to achieve full repayment, and a certain handling fee is charged. The basic functions include bill management, local payment, free card application, etc.

How to calculate the credit card repayment date?

The repayment due date is 20 days after the bill date. Since the number of days in each month is different, February has a special number of days. It is recommended that you arrange your repayment accordingly. For payment matters, you can check your credit card bill through Bank of China mobile banking, "Bank of China Credit Card" WeChat official account, Colorful Life APP, and online banking. Please refer to the due date shown on the bill for the specific date.

The above content is for your reference, please refer to actual business regulations.

If you have any questions, please feel free to consult Bank of China’s online customer service.

You are sincerely invited to download and use Bank of China Mobile Banking APP or Bank of China Cross-border GOAPP to handle related businesses.

This is the end of the introduction about when to repay credit card money and when to pay off credit card. I wonder if you found the information you need?