Current location - Trademark Inquiry Complete Network - Overdue credit card - The overdraft limit of ICBC credit card is 500 yuan, what is the interest for one month?
The overdraft limit of ICBC credit card is 500 yuan, what is the interest for one month?

The overdraft limit of ICBC credit card is 500 yuan, and the interest for one month depends on the interest rate. Generally speaking, credit card overdraft interest rates fluctuate between 14 and 24, and the specific value is determined by the bank.

Details:

1. Interest rate range: Credit card overdraft interest rate is usually an annual interest rate, varying between 14 and 24. This range depends on each bank's policies and market competition.

2. Calculate interest: To calculate one month’s interest, first convert the annual interest rate into a monthly interest rate. Assuming the annual interest rate is 18, the monthly interest rate is 18 divided by 12, or 1.5. The overdraft amount is then multiplied by the monthly interest rate to arrive at the amount of interest for one month.

3. Calculation example: Taking an overdraft limit of 500 yuan and an annual interest rate of 18, the monthly interest rate is 1.5. Therefore, the interest amount is 500 yuan times 1.5, which is 7.5 yuan.

Summary:

When the overdraft limit of ICBC credit card is 500 yuan, one month’s interest depends on the interest rate. Generally speaking, credit card overdraft interest rates fluctuate between 14 and 24. Calculated based on the overdraft limit and the corresponding monthly interest rate, the amount of interest for one month can be calculated. Therefore, under the above conditions, the interest amount is approximately 7.5 yuan.

Extended information:

The credit card overdraft interest rate is a fee set by the bank and is used to calculate the interest generated on the overdraft amount. Each bank's credit card overdraft interest rate is slightly different and will be adjusted based on market conditions and personal credit status. Credit card interest rates are regulated by laws and regulations to ensure reasonableness and fairness.

Please note: