Every time during the New Year and the holidays, many friends leave their credit card bills all over the place. Some friends may accidentally forget them, resulting in overdue payments. As we all know, interest will be charged for overdue payments, so How to calculate overdue interest on China Merchants Bank credit card? Let me introduce it to you today.

The calculation method of overdue interest on China Merchants Bank credit cards: the number of days from the date of each account to the due date of payment is the number of days for interest accrual, and the interest rate is 5/10,000.

For example: a cardholder’s bill date is the 7th of every month. If he spends 2,000 yuan by swiping his card on April 1st, and the consumption is credited to his account on April 2nd, it will appear on the bill on April 7th. The "amount payable in this period" is 2,000 yuan.

If the cardholder only repays 200 yuan on April 25, the due payment date, the interest that needs to be paid as of that day will be shown on the bill on May 7, that is, 2,000 yuan of revolving credit 23 days’ interest on the principal and 13 days’ interest on the remaining 1,800 yuan principal after repayment: 2,000 yuan × 0.05% × 23 days (April 2-April 24) + 1,800 yuan × 0.05% × 0.05% × 13 days (April 25-May 7) = 23 yuan + 11.7 yuan = 34.7 yuan.

Warm reminder: Overdue credit cards from China Merchants Bank will not only charge interest, but also incur certain liquidated damages.