How to calculate the interest on the minimum repayment amount of an industrial and commercial credit card?

The minimum repayment amount of an ICBC credit card is 10% of the bill amount. After repaying the minimum amount, the interest will be calculated based on the bill balance per day. Five-fifths of interest until the principal and interest are repaid. You need to pay attention to the following points when using credit cards:

1. Consumption before the monthly bill date will be billed on the bill date of the month and paid off before the first repayment date after the bill date, and you can enjoy Interest-free treatment;

2. Consumption after the monthly bill date can enjoy interest-free treatment if it is billed on the next month's bill date and paid off before the first repayment date after the next month's bill date;

3. There is no interest-free period for cash withdrawals with credit cards, and there are handling fees. From the date of withdrawal, interest will be calculated based on 50,000% of the amount of the cash withdrawal bill until the entire amount including principal, interest, etc. is paid off. Therefore, credit card When withdrawing cash, you should repay it as soon as possible;

4. The repayment date of a credit card is the last repayment day. You can repay it on any previous day, and you can repay it multiple times. However, If the repayment date is exceeded, it is considered overdue, which may affect your personal credit, so you should repay in time.

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Extended information:

ICBC credit card consumption of 4,000 in the month (1-31, no matter which day) Yuan, no interest until the repayment date on the 25th of the following month.

But it must be repaid in full when due. If you want to apply for minimum repayment (credit card installment payment), the cardholder must go to any local ICBC branch with his/her identity document and credit card to handle the installment payment transaction.

ICBC credit card will not take the initiative to handle installment repayment business for the cardholder after consumption. The cardholder must actively apply for it (two methods, one is to apply over the counter at any outlet, the other is to call 95588, Reminder: 95588 customer service staff will check whether the consumption record is true! )

The interest is the same for all banks. The interest is calculated cumulatively for 50,000 days. If it is overdue, it will be deducted. The over-limit fee is 1%. In the above example, the over-limit fee of 4,000 yuan is 400 yuan. It is calculated once every month on the 25th. If there is no repayment before the 25th, assuming that if it is overdue, the card balance will be -4,000 yuan per day after overdraft. The daily credit balance increases by 4,000 and the credit balance accumulates. When calculating interest, it will be multiplied by the credit balance and the daily repayment amount will increase.