What is the interest rate of credit card?

Generally, the daily interest rate for credit card interest is 0.05%, which means that the monthly interest on 10,000 yuan is about 150 yuan.

1. Credit cards are generally repaid on time and there is no interest for full repayment. In addition, overdraft cash withdrawals also charge a certain amount of interest and handling fees. The interest is calculated on a daily basis, which is also very high. It starts from the day when the cash is withdrawn. Interest will be calculated from now on, and the handling fee will be charged at 0.5 (minimum 2 yuan/transaction). You can control your credit card consumption and repay it on time every month. The credit card will always be interest-free. You only need to refund the bank amount you spent. If you overdue the payment without interest or fail to repay in full, the bank will charge interest.

2. Credit card interest is calculated from the date of purchase. Interest is charged at 5 per day and compounded monthly. That is to say, if the interest is not paid this month, interest will also accumulate next month. In addition to interest, using a credit card and not repaying on time will also incur some other fees, such as late payment fees, card holding fees, etc. People should pay attention to the cost standards of credit cards when using them. Credit cards are generally repaid on time, and full repayment is interest-free. You can control your credit card consumption every month and repay it on time. The credit card can always be interest-free. Only the amount you spent will be refunded to the bank without interest.

If necessary, we recommend you to use Youqianhua, which is a credit service brand under Duxiaoman Financial (original name: Baidu Youqianhua, renamed "Youqianhua" in June 2018) , big brands are reliable, have low interest rates and are trustworthy. Have money to spend - Manyidai, the maximum loan amount is 200,000, and the daily interest rate is as low as 0.02.

How to check the daily interest rate of a credit card?

Daily interest rate (dayrate) is also called daily interest rate or daily interest rate. It refers to the ratio of the daily interest amount on deposits and loans to the amount of borrowed money. Interest calculated on a daily basis.

Credit cards and quasi-credit cards are different. Credit cards allow overdraft consumption and have an interest-free period of a minimum of 25 days and a maximum of 56 days. Quasi-credit cards do not have an interest-free period for consumption. Yes, and there is no interest-free period for their overdraft and cash withdrawals, and they will charge 0.5% of the interest per day!

Credit card overdraft interest rates mainly refer to the interest rates incurred when the credit card holder fails to repay the current bill in full on time, and the interest rate payable when the card holder uses the credit card to withdraw cash.

For a long time, whether it is a city commercial bank or a state-owned bank, the daily interest rate for credit card overdrafts has been adjusted between 0.05 and 0.035. The lower limit of 0.035 and the upper limit of 0.05 are fixed, and the converted annualized interest rate is around 15-18.

However, now with this notice from the central bank, it means that the overdraft interest rates of various banks' credit cards may change at will according to the market, and each bank is very likely to change it based on the use of our account with the bank, etc. to lower credit card overdraft interest rates.

For us cardholders, the overdraft interest rate of each credit card may be different, and the difference may be relatively large. However, the current credit card market is basically fixed, and there may not be any banks taking the initiative to launch a price war in the short term.

In the "Notice of the People's Bank of China on Promoting the Market-oriented Reform of Credit Card Overdraft Interest Rates", the central bank also requires credit cards to display the annualized interest rate in an obvious way when displaying the overdraft interest rate, and shall not only display the daily interest rate, daily interest rate, etc. Repayment amount, etc.

Coupled with the previous requirement to display the annualized loan interest rate, when we choose to open a credit card in the future, we can see our actual annualized loan interest rate and credit card annualized interest rate at a glance.

When choosing a credit card, we can compare the offers given to us by various banks and choose a credit card with a lower overdraft interest rate to register for use.

Credit card interest rate

1. The annual interest rate of bank credit cards is 19.86. 2. Nowadays, the credit card interest of various banks is generally calculated on a daily basis, and the daily interest rate is 0.05, and the interest rate is 0.05. Compound interest is calculated monthly. Taking a credit card consumption limit of 10,000 as an example, if it is paid off in one year and the daily interest rate is 0.05, then the calculated interest for one year is 11,985.65 (including compound interest), the pure interest is 1,985.65 yuan, and the annual interest rate = 1985.65/10,000 = 19.86.

3. The interest rate for credit card bill installments is a repayment method of equal principal and interest, including mortgage loans, which are all repayment methods of equal principal and interest. (Equal principal and interest payments are the same amount of repayment, including principal and interest, every month during the repayment period). : Credit card, also called credit card, is a credit certificate issued by a commercial bank or credit card company to consumers with qualified credit. It takes the form of a card with the issuing bank's name, validity period, number, cardholder's name and other contents printed on the front, and a magnetic stripe and signature strip on the back. Consumers holding credit cards can shop or consume at specially designated commercial service departments, and then the bank will settle the accounts with merchants and cardholders. Cardholders can overdraft within the prescribed limit. Credit cards stipulated in the relevant laws of our country ("Interpretations of the Standing Committee of the National People's Congress on Relevant Credit Card Regulations") refer to credit cards issued by commercial banks or other financial institutions that have all the functions of consumer payment, credit loans, transfer settlement, cash deposits and withdrawals, etc. Electronic payment card with some functions

. On December 1, 2017, the "English Translation and Writing Standards in the Public Service Field" was officially implemented, stipulating that the standard English name of credit cards is CreditCard

. Credit card consumption is a non-cash transaction payment method. There is no need to pay cash when consumption, and repayment will be made on the billing date (Billing

Date). Credit cards are divided into credit cards and quasi-credit cards. A credit card refers to a credit card in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; a quasi-credit card refers to a credit card in which the cardholder can A quasi-credit card that deposits a certain amount of reserve fund and can be overdrafted within the specified credit limit when the reserve account balance is insufficient for payment. The so-called credit card generally refers to a credit card only. Starting from January 1, 2021, credit card overdraft interest rates will be determined independently by card issuers and cardholders through independent negotiation, and the upper and lower limit management of credit card overdraft interest rates will be cancelled. 0.7 times). On May 25, 2021, the Supreme People’s Court issued and implemented the “Regulations of the Supreme People’s Court on Several Issues Concerning the Trial of Bank Card Civil Cases.”

Please click to enter the picture description (maximum 18 words)

That’s it for the introduction of the daily interest rate of credit cards.