credit card repayment.
about credit card repayment, the similarities and differences between the credit card transaction date and the entry date
transaction date: literally, it refers to the date when the cardholder actually spends, deposits and withdraws cash, transfers money or actually makes transactions with relevant institutions.
posting date: refers to the date when the card issuer posts the transaction money to the cardholder's credit card account or posts the fees and interests to his credit card account according to regulations.
sometimes the trading date and the posting date are the same day, sometimes they are not, especially in consumption abroad, where the difference between them may be more than one day.
At this point, many old drivers who robbed consumption abroad to cash back must have a deep understanding, and many of them were defeated because they couldn't understand the law of the difference between these two dates.
It's not that everyone is inexperienced. It's just that the posting date of each bank is different, even the same bank is not the same every month. This rule is really hard to touch.
In fact, not only overseas activities, but also many banks like to calculate their activities based on the entry date. You may wish to pay attention to the detailed descriptions of various activities to avoid accidentally falling into the pit.
About overdue credit cards
Speaking of overdue topics, let's explain some terms first.
billing date means that the card-issuing bank will regularly summarize and settle all transactions and expenses in your credit card account in the current period every month, calculate the total amount owed and the minimum repayment amount in the current period, and send a statement for you (paper bills are almost extinct now, basically text messages and emails). This date is the billing statement of your credit card.
repayment date: for non-cash credit card transactions, the date from the bank bookkeeping date to the due repayment date is the interest-free repayment date, and the last interest-free day is the last repayment date written on the bill.
the minimum repayment amount means that if the cardholder has difficulty in repaying all the payables before the due repayment date (inclusive), he can make repayment according to the minimum repayment amount stipulated by the issuing bank, but he cannot enjoy the interest-free repayment period. The minimum repayment amount is listed on the current bill.
the minimum repayment amount = 1% of the outstanding consumption amount within the credit line (5% in some banks)+1% of the cash advance transaction amount+1% of the outstanding portion of the minimum repayment amount in the previous period+1% of the consumption amount exceeding the credit line+1% of the expenses and interest.
in a word, just look at the item on the bill about the minimum repayment amount.
well, with the above noun explanation, this overdue is easy to explain.
if the minimum repayment amount is not paid after the last repayment date, even if it is overdue, it may be recorded in the letter.
The reason why it is possible to be published in the newspaper is that many banks have set aside a little allowance. The technical term is tolerance, which is regarded as mercy outside the law.
Tolerance is the collective name of "tolerance service" and "tolerance service" of bank credit cards.
"tolerance service" means that if the cardholder fails to repay in full in the current period, and the unpaid part in the account is less than or equal to a certain amount after the due repayment date, it shall be regarded as the cardholder's full repayment, and this unpaid part will be automatically transferred to the next bill, and the unpaid part will not be subject to interest.
"time-tolerant service" means to provide cardholders with a certain period of grace period service for repayment, and the grace period for repayment is within a few days from the due repayment date; When the cardholder repays within the repayment grace period, it shall be deemed that the cardholder repays on time.
the repayment date of general banks is 2 days after the bill date, and some banks are 25 days after the bill date; Generally, the holding time is 2 or 3 days (note that the holding time of ICBC is days); Generally, the tolerance is within 1 yuan, and only China Everbright Bank can allow it to be within 1 yuan.
In addition, time tolerance services such as China Guangfa Bank, China Everbright Bank and Shanghai Pudong Development Bank can only be enjoyed by applying. In this regard, it is understandable that time tolerance needs to be applied. If you realize the tolerance, you will definitely pay back a few dollars at will. Who will bother to apply? With the threshold of this application, it means that there is no such service.
So, if the time allowed by each bank is overdue, does it necessarily pollute the credit information?
the answer is no, too.
because the overdue reports of banks are not reported in real time, they all have their own work rhythm, and the fastest one has to take one working day, and some banks even wait for more than ten days to report.
The overdue reporting period is also the last time for everyone to make remedies. Pay back in full, take the initiative to explain what you have to do (such as forgetting, not being on a business trip and other unforgivable non-subjective reasons), and be sincere, which is likely to "save the day".
of course, it's not that we are lucky enough to delay the repayment, but that once the overdue period is settled as early as possible, don't break the jar without asking.
credit card interest
even if it is carefully overdue, but it is not repaid in full by the repayment date, there will still be an expensive interest fee waiting for you.
interest: due to the withdrawal of cash, or the failure to repay in full (only the minimum repayment amount) on the repayment date, the current common algorithm for credit card interest is the daily interest rate of five ten thousandths. Whether it is overdue or not, as long as it is not paid back in full after the repayment date, this interest will be generated.
reminder: one billing cycle is the calculation cycle of interest, and the interest in the next cycle will be incorporated into the principal for recalculation.
There are several points to note here:
1. Cash withdrawal is different from credit card consumption, and there is no interest-free period. As long as you take the current bank, you can start to calculate interest. If you don't make up your money for an emergency, remember to pay it back quickly. Don't wait for the repayment date to pay it back together. There will be a large interest fee waiting for you.
of course, we all know this. Everyone takes it on the same day and pays it back, without paying any interest fee, but only paying a handling fee.
2. The interest-free period of credit card consumption is conditional, that is, you must repay it in full before the repayment date. If you only pay the minimum repayment amount, the interest will be calculated in full, although it will not cause overdue letters and newspapers.
related repayment
maybe someone said that I have set up automatic repayment with a debit card, and no matter how many holes there are, I can't be cheated.
If you think so, there may be a bigger pit waiting for you
Because there is still a question of pressing the card or pressing the account for credit card repayment, one thing you must remember firmly! I can't figure this out. I'll wait for you after the deadline.
Find out which banks press the card and which banks press the account, and make related repayment accordingly.