The calculation method of credit card interest of CITIC Bank is compound interest, and the interest included in the principal is called compound interest. If the bill is not paid in full, it will generate interest. Interest is shown on next month's bill and needs to be repaid. If the next month's bill has not been fully paid off, the interest of the first month will be added to the outstanding principal of the bill and recalculated.

Interest on credit card withdrawal of CITIC Bank:

Credit card cash withdrawal transactions do not enjoy interest-free period. From the date of withdrawal to the day before the withdrawal transaction is paid off, the interest will be calculated at the rate of 0.5 ‰ per day. For example: 65438+ 1 withdrawal 1500 yuan, 1.20. Withdrawal of principal 1500 yuan, handling fee of 30 yuan. The interest calculation formula is: 1.0005 (interest rate) × 19 (days) = 14.54 yuan.

References:

China CITIC Bank-How to Calculate Interest for Credit Card Withdrawal