In today's society, credit card has become a kind of card commonly used by young people. Most of the monthly consumption is made by swiping the card, but only the minimum repayment amount is paid each month, and the debit interest will be found in the transaction details. In fact, the debit interest refers to the interest caused by the settlement of the unpaid part from the interest-free date. Since the minimum repayment has been paid, it is not overdue at will, but the debit interest will be deducted.

1. Is debit interest overdue?

Debit interest refers to the interest settled from the interest-free date of the minimum repayment amount of the credit card, and the source of debit interest. However, there is no monthly minimum repayment, so it is not overdue. However, the debit interest of this month will be deducted every month, and then the debit interest of the next month will be recalculated, so as not to cause the debit interest to exceed the credit card itself more and more.

ii. Debit interest

For transactions other than cash and transfer, the interest-free repayment period starts from the bank bookkeeping date to the due repayment date (hereinafter referred to as the due repayment date) notified in the statement, and the due repayment date is subject to the agreement with the cardholder. If the cardholder repays all the payables before the due repayment date (inclusive), there is no need to pay overdraft interest except cash and transfer.

if the cardholder repays at the minimum repayment amount before the due repayment date (inclusive), the card issuer will only charge overdraft interest from the bank bookkeeping date to the repayment date on a daily basis, and the overdraft interest will be compounded monthly. Overdraft withdrawal and transfer do not enjoy interest-free repayment period, and overdraft interest from the bank bookkeeping date to the repayment date is paid at a daily rate of five ten thousandths. Failure to repay the minimum repayment amount before the due repayment date (inclusive) shall be deemed as overdue. In addition to paying overdraft interest according to the above-mentioned interest calculation method, a late fee of 5% of the unpaid part of the minimum repayment amount is also required.

to sum up, credit cards still need to be repaid in full if they are able, and only the minimum interest generated is quite a lot, which is not conducive to raising cards and will also have a bad impact on individuals, so try to pay off all the arrears in the current period.