Overdue interest on credit cards is calculated on a daily basis, with a daily interest rate of 0.05% and compound interest on a monthly basis. Owing 1 million to a credit card will generate interest of 1,000,000*365*0.0005=182,500 yuan a year, and the interest generated every day is 1,000,000*0.0005=500 yuan. It should be noted that generally credit card holders who are overdue for more than 3 months, have a large amount and maliciously fail to repay will be prosecuted by the bank.