How to calculate the repayment time of credit card;
1. The three-day grace period for credit card repayment starts from the second day after the repayment date, that is, three days after the repayment date. Of course, different banks have different deadlines for grace periods, many of which end at 24 o'clock on the third night, such as China Merchants Bank, Industrial and Commercial Bank of China and Ping An Bank. Some are not. For example, the deadline stipulated by China Construction Bank is the afternoon of the third day after the repayment date16;
2. It should also be noted that the grace period of some banks' credit cards is less than three days, such as Agricultural Bank, which only has two days. It should be noted that if the bill cannot be repaid on time before the repayment date (inclusive), it must be repaid in time within the subsequent grace period, and the repayment amount is not less than the minimum repayment amount of the current bill, so that it will be regarded as normal repayment and not overdue. If the payment is not made after the grace period, it will naturally lead to overdue, resulting in overdue penalty interest, leaving a bad record in the customer's personal credit report, which will lead to the damage of the customer's personal credit.
Legal basis:
Measures for the supervision and administration of credit card business of commercial banks
Article 70 Under special circumstances, if it is confirmed that the amount owed by a credit card exceeds the cardholder's repayment ability and the cardholder is still willing to repay, the issuing bank may negotiate with the cardholder on an equal footing and reach a personalized installment repayment agreement. The longest term of personalized installment repayment agreement shall not exceed 5 years.
The contents of personalized installment repayment agreement shall at least include:
(a) the balance, structure and currency of the arrears;
(2) The repayment period, method, currency, date and repayment amount of each installment;
(3) Whether annual fees, interest and other fees are charged during the repayment period;
(4) Before all the funds related to the personalized installment repayment agreement are settled, the cardholder shall not apply to any bank for a credit card commitment;
(5) The rights, obligations and liabilities for breach of contract of both parties;
(6) Other matters related to repayment.
If both parties reach an agreement and sign an installment repayment agreement, the card-issuing bank and its card-issuing service institution shall stop the collection of the cardholder, except that the cardholder fails to perform the installment repayment agreement. If an oral repayment agreement is reached, the issuing bank must keep the recorded data. Records shall be kept at least until the date of settlement of arrears.