The overdue interest on CCB’s credit card is more than ten times higher than the principal. This is due to the following reasons.

First of all, CCB credit cards use a daily interest calculation method, and overdue interest is high. Once the cardholder fails to repay the card overdue, the bank will calculate interest based on a certain interest rate every day, and different overdue days correspond to different interest rates. This means that the longer the loan is overdue, the higher the interest will be. Since the overdue interest rate on credit cards is higher than the interest rate on other loans, after a period of overdue payment, the overdue interest rate may be more than ten times higher than the principal amount.

Secondly, CCB credit card will calculate overdue interest and late payment fees at the same time after the payment is overdue. A late payment fee is a penalty for late payment and is related to the overdue amount. When a cardholder fails to repay a loan overdue, in addition to calculating interest, a certain percentage of late payment fees will also be charged. The longer the overdue period is, the late payment fees will continue to increase, resulting in a further increase in overdue costs.

Thirdly, CCB credit cards have compound interest calculations. Overdue interest on CCB credit cards is calculated based on compound interest, which means that unpaid interest will be used as part of the principal to calculate overdue interest again in the next period. Overdue interest continues to accumulate over time, and based on compound interest, the overdue interest is several times or even more than the principal.

To sum up, the overdue interest on CCB's credit cards is more than ten times higher than the principal, mainly because CCB uses daily interest calculation, overdue interest and late payment fees at the same time, and compound interest calculation methods. Cardholders should make timely repayments to avoid the accumulation of overdue interest, and at the same time pay attention to avoid overdue risks.

Extended information:

China Construction Bank is a state-owned bank in mainland China and one of the largest banks in China. CCB Credit Card is a payment tool launched by China Construction Bank, with a wide range of consumption scenarios and convenient payment methods. However, if the repayment is not made on time, high overdue interest and late payment fees will be incurred, seriously affecting the financial status of the cardholder. Therefore, cardholders should fully understand the relevant interest calculation and repayment regulations when using CCB credit cards to avoid high interest rates arising from overdue payments.