Detailed description:
1. According to the regulations of China UnionPay, the minimum repayment amount of credit card refers to a certain proportion of the monthly repayment amount of customers, usually 10% of the total bill, at least not less than 100 yuan. This means that even if the customer only pays the minimum repayment amount, the rest will still generate interest.
2. According to the relevant policies of China Merchants Bank, if the customer chooses the minimum repayment amount, the remaining unpaid interest will be calculated according to the agreed interest rate of the credit card. This means that even if the customer repays the credit card debt with the minimum repayment amount for many years, the unpaid part will still accumulate interest.
3. No matter how many years the customer chooses to repay, as long as there is still outstanding amount, China Merchants Bank will continue to calculate interest according to the agreed interest rate and will not refund the previous interest.
Summary:
According to the policy of China Merchants Bank, the minimum repayment amount of China Merchants Bank's credit card cannot be refunded with principal and interest. No matter how many years the customer chooses the minimum repayment amount, the remaining unpaid part will still generate interest according to the agreed interest rate of the credit card.
Extended data:
According to relevant information, the minimum repayment amount of credit card is to help customers repay on time and avoid the penalty interest and the adverse effects of credit history caused by overdue. The minimum repayment amount is only an option under certain circumstances, but it is not recommended to repay credit card arrears with the minimum repayment amount for a long time. Because interest will continue to accumulate, which will have a negative impact on customers' financial situation and credit history.
The above is a detailed answer about the minimum repayment interest of China Merchants Bank's credit card.