You can pay off your credit card today and use it again today.

If the credit limit of the credit card is restored on the same day after repayment, then you can swipe the card at this time. Different repayment methods have different credit limit restoration speeds. Credit card payments are due on the due date. If you can repay on the same day, you should confirm that it has been recorded:

1. Confirm that the repayment has been recorded;

2. Continue to refresh the overdraft limit after entering;

3. Calculate the outstanding amount after it has not been credited into the account;

4. It is recommended to call the credit card center after repayment to confirm whether the repayment has been received.

If you fail to repay in full before the due payment date and do not choose the minimum credit card repayment amount, the penalties are as follows:

1. All consumption funds will no longer enjoy interest-free repayment. The bank will calculate interest on the principal amount on a daily basis from the date of consumption, with a daily interest rate of 0.05 and monthly compound interest;

2. Receive calls and letters from the bank;

3. Freeze your account and feed your debt record to the People's Bank of China to record it in your credit file, which will affect your personal credit.

Late repayment

The consequences of overdue repayment on a credit card will be serious, and overdraft consumption should be moderate. Although the biggest feature of a credit card is its overdraft function, it actually constitutes a lending relationship between the customer and the bank. Failure to repay after the due date may not only cause legal disputes, but may also incur high penalties and interest. The most important thing is that it will form a bad credit record, which will have a negative impact on future work and life.

Consequences of overdue credit card repayment

After a high penalty credit card defaults, the penalty fees usually involved are recurring interest fees and late payment fees. The essence of a revolving credit is an unsecured small loan with daily interest. If the full amount is not repaid on the last repayment date, revolving credit interest will accrue on the next statement, and the interest needs to be calculated from the consumption record date.

Except ICBC, the other 12 banks still impose full penalty interest. Full penalty interest means that even if the customer has repaid part of the amount, the repayment portion will not be deducted when calculating the penalty interest. Interest charges are usually calculated at 0.05 of the daily interest. In addition, some banks stipulate that within 15 days from the accounting date, the daily interest will be calculated at 0.05 of the daily interest, and for more than 15 days, the daily interest will be calculated at 10.05 of the daily interest. If it exceeds 30 days or the overdraft amount exceeds the prescribed limit, the default interest will be higher. .

Notes on credit card repayment:

There are more and more new repayment methods, but the mainstream ones are online transfer repayment provided by banks and third-party POS machine card-to-card repayment. loan, telephone banking repayment and other media. If there is a fixed customary repayment pattern and repayment cycle, the monthly credit card repayments will become a "little effort" and will never take up too much time, let alone waiting in long lines at the bank.

Another reminder is that when choosing a credit card, you should ask the bank what repayment methods it supports, try to apply for a credit card with more diversified repayment methods, and don't be fooled by small profits such as "card swiping discounts" . ". After all, the convenience of a credit card is the most important.