How is Bank of Communications credit card interest calculated?

1. For non-cash transactions (cash advance or transfer), Bank of Communications charges from the bank’s accounting date to the due date of repayment The date in between is the interest-free repayment period. The interest-free repayment period is as short as 25 days and as long as 56 days. During this period, as long as the current period's repayment amount (total amount owed) on the current statement is repaid in full, you do not need to pay any interest on the funds advanced by the bank to the store for non-cash transactions (cash advances are not exempt). interest discount).

2. The minimum repayment amount means that if the cardholder has difficulty repaying all the amount payable before the due repayment date (inclusive), he can repay according to the minimum repayment amount stipulated by the card issuer. However, you cannot enjoy the interest-free repayment period, and the minimum repayment amount is 10% of the consumption amount plus other various types of payables. The minimum payment is listed on the current bill.

The calculation formula of the minimum repayment amount is as follows: Minimum repayment amount = 10 consumption balance 10 cash withdrawal balance interest balance other payable fee balance unpaid portion of the minimum repayment amount in the previous period.

How to calculate Bank of Communications credit card interest

For non-cash transactions, the period from the bank accounting date to the due date of repayment is the interest-free repayment period. The interest-free repayment period is as short as 25 days and as long as 56 days. During this period, as long as you repay in full the amount due on the current period's statement, you will not have to pay any interest on the funds advanced by the bank to the store for non-cash transactions.

Bank of Communications credit card repayment interest

The minimum repayment amount refers to the cardholder who has difficulty repaying all the amount payable before the due payment date (inclusive). You must repay the minimum repayment amount specified by the bank, but you cannot enjoy the interest-free repayment period. The minimum repayment amount is 10% of the consumption amount plus other various payables. The minimum payment is listed on the current bill.

The minimum repayment amount is calculated as follows:

Minimum repayment amount = 10 consumption balance 10 cash withdrawal balance interest balance other payable fees balance unpaid portion of the minimum repayment amount in the previous period

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Bank of Communications adopts the revolving credit interest calculation method. Revolving Credit: A revolving credit is a small, unsecured loan with daily interest. You can decide the repayment amount according to your own financial situation every month before the due date of the current credit card bill. When the amount you repay is equal to or higher than the minimum payment on the current bill, but less than the amount due in the current period, the remaining deferred payment amount is the revolving credit balance. Revolving credit is a very convenient loan tool that not only allows you to enjoy the convenience of swiping a credit card, but is also a good choice for easy financial management. If you choose to use revolving credit, you will not be able to enjoy the interest-free repayment period in the current period.

Revolving credit interest rate:

The revolving credit interest rate is uniformly stipulated by the People's Bank of China, with a daily interest rate of 0.05% and compound interest calculated on a monthly basis.

Interest calculation for revolving credit:

Each consumption amount in the previous statement is the interest-bearing principal, from the date the account is recorded until the account is paid off The end of the day is the number of days for interest accrual, and the daily interest rate is 5/10,000 for the interest accrual rate. Interest on the revolving credit will be shown on your next bill.

How to calculate Bank of Communications credit card interest

Bank of Communications credit card interest is calculated according to the following standards

1. If it is consumption and the payment is made normally before the interest-free period, yes No interest will be charged. The repayment date of Bank of Communications is 25 days after the bill date. You can call the Bank of Communications Credit Card Center. The number is written on the back of the credit card;

2. If you pay by credit card, you can pay it off before the 25th. If the interest cannot be repaid in full, it will be calculated from the day the card is swiped. The daily interest is 50% per day. 1,000 yuan is 50 cents per day;

3. For example, if you repay 500 on the 20th, you will not repay it later. Well, the daily interest before the 25th is 5 cents, and after the 5th it is 5/5 million, which is 2 cents;

4. There is no interest-free period for cash withdrawals, and interest will be calculated starting from the same day, except The interest also generates a handling fee for cash withdrawals (1 or 10 yuan for the amount of cash withdrawal, except for youth cards, which is 5 yuan per transaction, with no limit on the amount). 1,000 yuan is 50 cents per day in interest. This is the same as swiping a card until it is repaid.

The interest of Bank of Communications credit card = the amount owed and the number of days in arrears 0.05. Generally, interest will only accrue in the case of overdue repayment, overdraft withdrawal, and minimum repayment. It will not accrue under normal use. of interest.

Bank of Communications credit card installment fees are calculated on a monthly basis. Bank of Communications credit card holders can apply for installments after issuing bills. Applying for installments will incur corresponding handling fees based on the number of installments applied for. The handling fees are based on the amount of the installments, and the interest rates will be different for different installments. However, Bank of Communications' credit card installment fee is special. It is fixed at 0.72 per installment no matter how many installments it is. Suppose you spend 50,000 yuan in 24 installments. The monthly repayment is calculated as follows:

100000.72=72 yuan, and the monthly handling fee is 360 yuan

10000/24= 2083 yuan, the monthly principal is 416.67 yuan

416.6772=2443 yuan, the monthly repayment is 488.67 yuan

The Bank of Communications credit card is a combination of Bank of Communications and HSBC*** The user positioning of the credit brand products launched by Tonghe is "a group of people who have ideals and pursuits in life and career, know how to enjoy, and are more willing to struggle. Sometimes there are also people who go abroad to study, do business, research or travel.

This is the end of the introduction on how to calculate interest on transportation credit cards and how to calculate interest on Bank of Communications credit cards. Did you find the information you need?