How to calculate Bank of Communications credit card interest

Bank of Communications credit card interest is calculated according to the following standards

1. If it is consumption and normal repayment is made before the interest-free period, yes No interest will be charged. The repayment date of Bank of Communications is 25 days after the bill date. You can call the Bank of Communications Credit Card Center. The number is written on the back of the credit card;

2. If you pay by credit card before the 25th, it will be free of charge. If the interest cannot be paid back in full, it will be calculated from the day the card is swiped. The daily interest is 0.05% per day. 1,000 yuan is 50 cents per day;

3. For example, if you repay 500 on the 20th, there will be no repayment later. Well, the daily interest before the 25th is 5 cents, and after the 5th it is 5/5 million, which is 2 cents;

4. There is no interest-free period for cash withdrawals, and interest will be calculated starting from the same day, except The interest also generates a handling fee for cash withdrawal (1% of the cash withdrawal amount, 10 yuan, except for youth cards, which is 5 yuan per transaction, with no limit on the amount). 1,000 yuan is 50 cents per day interest. This is the same as swiping a card, and it lasts until it is repaid. .

The interest of Bank of Communications credit card = 0.05% of the amount owed and the number of days in arrears. Generally, interest will only accrue in the case of overdue repayment, overdraft withdrawal, and minimum repayment. It will not occur under normal use. accruing interest.

Bank of Communications credit card installment fees are calculated on a monthly basis. Bank of Communications credit card holders can apply for installments after issuing their bills. Applying for installments will incur corresponding handling fees based on the number of installments applied for. The handling fees are based on the amount of the installments, and the interest rates will be different for different installments. However, Bank of Communications' credit card installment fee is special. It is a fixed 0.72% per installment no matter how many installments it is. Suppose you spend 50,000 yuan in 24 installments. The monthly repayment is calculated as follows:

100000.72%=72 yuan, and the monthly handling fee is 360 yuan

10000/24 =2083 yuan, the monthly principal is 416.67 yuan

416.6772=2443 yuan, the monthly repayment is 488.67 yuan

Bank of Communications credit card is a combination of Bank of Communications and HSBC** *The user positioning of the credit brand products launched by the same company is "a group of people who have ideals and pursuits in life and career, know how to enjoy, and are more willing to struggle. Sometimes there are also people who go abroad to study, do business, research or travel.

How to calculate Bank of Communications credit card interest

For non-cash transactions, the period from the bank accounting date to the due date of repayment is the interest-free repayment period. The minimum payment period is 25 days and the maximum is 56 days. During this period, as long as you pay off the current balance in full, you will not need to pay any interest on the funds advanced by the bank to the store for non-cash transactions.

Bank of Communications credit card repayment interest

The minimum repayment amount refers to the cardholder who has difficulty repaying all the amount payable before the due repayment date (inclusive). The card holder can follow the card issuer's regulations. The minimum repayment amount is required, but the interest-free repayment period is not available. The minimum repayment amount is 10% of the consumption amount plus other various payables. The minimum repayment amount is listed on the current bill.

The calculation formula of the minimum repayment amount is as follows:

Minimum repayment amount = 10% of the consumption balance, 10% of the cash withdrawal balance, interest balance, other payable expenses balance, and the unpaid portion of the minimum repayment amount of the previous period

Bank of Communications adopts the revolving credit interest calculation method. Revolving credit is a small, unsecured loan that calculates interest on a daily basis. You can pay the current credit card bill every month based on your financial situation. Before the repayment date, you can decide the repayment amount by yourself. When the amount you repay is equal to or higher than the minimum repayment amount of the current bill, but lower than the amount due in the current period, the remaining deferred payment amount is the revolving credit. Balance. Revolving credit is a very convenient loan tool, which not only allows you to enjoy the convenience of swiping a card, but is also a good choice for easy financial management. If you choose to use revolving credit, you will not be able to enjoy the interest-free repayment period in the current period. Discount.

Revolving credit interest rate:

The revolving credit interest rate is uniformly stipulated by the People's Bank of China, with a daily interest rate of 0.5% and compound interest calculated on a monthly basis. >Interest calculation for revolving credit:

The amount of each purchase in the previous statement is the interest-bearing principal, and the number of interest-bearing days is from the date the account is recorded to the date the account is paid off. , the daily interest rate is 0.5%, and the interest on the revolving credit will be listed in the next period's bill.

How much is the interest rate of Bank of Communications credit card?

Bank of Communications credit card interest = 0.05% of the number of days to repay the principal. Interest will only be incurred in the case of overdue repayment or minimum repayment. Normal use of credit cards to repay on time will not accrue interest. , you can enjoy the interest-free period of your credit card by using your credit card normally. The interest-free period of Bank of Communications credit card is as short as 25 days and as long as 56 days.

On October 25, 2004, Bank of Communications Pacific Credit Card Center was officially established.

Bank of Communications Credit Card is also a group of people with high living standards who are willing to try new consumption habits. "Bank of Communications Pacific Credit Card is a credit card product created by Bank of Communications by introducing HSBC's advanced technology and management. It brings together both global and local advantages, with the theme of "Global Card for Chinese People", and advocates a new consumer culture and The card experience provides preferential benefits and considerate services all over the world.

Issuance background

In May 2005, just as Bank of Communications was preparing to enter the credit card business, it happened to encounter domestic problems. The market is full of smoke: major domestic banks have entered the market one after another, and the competition is becoming increasingly fierce; among the foreign banks, there are even pioneers targeting the Chinese market, joining forces with domestic banks to establish a model of jointly promoting credit cards between domestic and foreign banks.

In the face of unfavorable competition, how can Bank of Communications reverse its passive situation and gain a leading position in the credit card market? Even before the establishment of Pacific Credit Card Center in October 2004, Bank of Communications has been thinking about two issues: first, customer positioning; The second is the advantage of the strategic alliance with HSBC.

Brand positioning

After a series of evaluation studies, Bank of Communications positioned this credit card as: " A group of people who have ideals and pursuits in life and career, know how to enjoy, and are more willing to struggle. Sometimes they also need to go abroad to study, do business, research or travel. They are also a group of people with high living standards and willing to try new consumption habits. "Subsequently, Bank of Communications and HSBC jointly launched "China's Global Card" - "Bank of Communications Pacific Dual Currency Credit Card".

Brand Features

This card captures the dual "local and global" advantages of Bank of Communications and HSBC: Bank of Communications has a vast network of more than 2,600 branches in more than 130 cities in China; and HSBC, the world's second largest financial institution, has a global presence The dense banking network systems in various places make this "Chinese global card" shine and bring a unique card-using experience. The cooperation between the two banks also sets a model for the development of international cooperation in the Chinese banking industry. .

A small credit card, but a perfect fusion of Chinese and Western culture. On the card surface of the gold card and the ordinary card, the earth and the phoenix and brocade, which symbolize nobility and auspiciousness in traditional Chinese culture, are respectively painted. Carp, taken from its meaning of "the spirit of a carp leaping over the dragon gate, the majesty of a phoenix dancing in the nine heavens", fully integrates the characteristics of Chinese culture and HSBC's global services into a small card, giving the "Chinese Global Card" a precise Interpretation.

Bank of Communications Credit Card is not afraid of hardships and innovation, and has been working tirelessly to provide better services and create a better life for cardholders, helping more Chinese people to Enjoy world-class benefits.

On April 18, 2021, Bank of Communications Credit Card announced Wang Yibo as the brand’s global spokesperson through its official Weibo.

How is the interest rate of Bank of Communications Credit Card calculated?< /p>

1. For non-cash transactions (cash advance or transfer), Bank of Communications has an interest-free repayment period from the bank accounting date to the due repayment date. The minimum period is 25 days and the maximum period is 56 days. During this period, as long as the amount due for the current period (total amount owed) on the current statement is paid in full, there is no need to pay any non-cash transactions and the bank will advance funds to the store on its behalf. Interest (cash advance does not enjoy the interest-free discount)

2. The minimum repayment amount refers to the cardholder who has difficulty repaying the entire amount due before the due payment date (inclusive). Repay according to the minimum repayment amount stipulated by the card issuing bank, but you cannot enjoy the interest-free repayment period. The minimum repayment amount is 10% of the consumption amount plus other various types of payables. The minimum repayment amount is listed on the current bill. .

The calculation formula of the minimum repayment amount is as follows: Minimum repayment amount = 10% of the consumption balance, 10% of the cash withdrawal balance, interest balance, other payable expenses balance, and the unpaid portion of the minimum repayment amount in the previous period.

That’s it for the introduction of how to calculate interest on Bank of Communications credit cards.