1. How to calculate the interest when choosing the minimum repayment amount for credit cards?
If you choose the "minimum repayment amount", then the consumption in this bill will not enjoy interest-free treatment, but it will not affect your personal credit. Generally speaking, the calculation method of banks is the same. From the date of consumption, 0.5 ‰ interest will be charged for each consumption and settled in the next bill. For example, there are three expenses in the bill. April 12 spent 10000 yuan, April 13 spent 5000 yuan, and May 2 spent 5000 yuan. The account shall be settled on May 5th, and the payable amount is 20,000 yuan. The final repayment date is May 25th, and the minimum repayment amount is 2000 yuan. You can choose to repay 2000 yuan on May 25th, the final repayment date. The interest is calculated as follows: 2000 yuan is calculated from April 12, and you repay the loan on May 25th, with a daily interest rate of 0.5 ‰, which is probably 43 yuan. For the remaining unpaid 18000 yuan, interest of 0.5 ‰ will be charged every day from the date of consumption until you pay it off later.
Second, the minimum repayment amount in this period
When a credit card holder has difficulty in repaying all the payables before the due repayment date (inclusive) of his credit card, he can make repayment according to the minimum repayment amount stipulated by the issuing bank. That is, the minimum amount to be repaid in this period.
Interest on minimum repayment amount of credit card
Minimum repayment amount = 65,438+00% of the consumption amount within the credit line+65,438 of the cash advance transaction amount+000% of the unpaid part of the previous minimum repayment amount+65,438+000% of the consumption amount exceeding the credit line+65,438+000% of the expenses and interest.
At present, in the above formula, some banks use the minimum repayment rate of 10% to advance cash.
Credit card holders who only pay the minimum monthly payment will generate credit card interest, and all credit cards have a certain interest-free period. If the cardholder uses the overdraft amount during the interest-free period and repays the consumption amount on the due repayment date, he does not need to bear the interest expense. However, if the repayment is not made in full after the due repayment date, the credit card interest will be borne, and the unpaid part of the minimum repayment amount will no longer enjoy the interest-free period. 0.05% (0.05%) interest will be charged every day from the date when consumption is recorded, and compound interest will be calculated monthly.