More and more people start to use credit cards, but they don't know enough about the basic knowledge of credit cards. Today I will share a common and important knowledge point with you. What does the interest-free period of credit cards mean? Guys, keep looking down.
What does the interest-free period of credit cards mean? I specially found the explanation of Baidu entry for everyone.
For credit card non-cash transactions, the interest-free repayment period is from the bank bookkeeping date to the due repayment date. During this period, you don't need to pay any interest on non-cash transactions, provided that you pay off the current payable amount (total amount owed) on the current statement in full (you don't enjoy the interest-free discount on cash advance).
Maybe parents don't quite understand it after reading it, so to put it bluntly, the interest-free period means paying off all the money consumed at the time of final repayment, so there is no need to pay interest. The length of the interest-free period depends on the time you spend. If your consumption is before the current bill date, it will be included in the current bill, and if it is after the bill date, it will be included in the next bill.
For example:
Your bookkeeping date is the 5th, and the final repayment date is the 23rd. Your consumption before 65438+February 5 will be included in the bill of 65438+February 23. If your consumption is after 65438+February 5th, then it will be charged to the bill of 65438+1October 5th. If your spending time is 65438+February 5, you can enjoy a 50-day interest-free period when you repay on June 23.
As for the longest interest-free period, if the bank stipulates that the 25th of next month is the repayment period, and you spend 1 this month, your longest interest-free repayment period is 56 days; Consume on the 2nd of this month, and the repayment period is 55 days. The longest interest-free period is about 49 or 56 days, so it is the best choice to swipe your card within a few days after the bill date. The interest-free time of different banks is also slightly different, ranging from 20 days to 56 days.
What does the interest-free period of credit cards mean? Necessary knowledge of credit card repayment skills
Credit cards are mainly used for overdraft consumption. There is an interest-free period after consumption, during which there is no need to repay and bear any expenses, which can alleviate the short-term financial pressure for cardholders. If you are a credit card white, then, what is the meaning of credit card interest-free period, you must understand clearly, otherwise it will easily hurt your credit information.
Every credit card issued by the bank has a certain overdraft consumption limit, and cardholders can use credit cards to spend. After the cardholder overdraws by credit card, the period from the bank bookkeeping date to the credit card repayment date is interest-free period, that is, the cardholder does not need to repay immediately after using the credit card limit, but only needs to repay before the end of the credit card repayment date to enjoy interest-free treatment. If you exceed the interest-free period, you will bear the overdue interest and liquidated damages of the credit card.
Credit cards can be used for overdraft consumption, cash withdrawal and loans, but only overdraft consumption has an interest-free period, and both cash withdrawal and loans require cardholders to bear certain handling fees or interest.
In addition, different banks have different interest-free periods for credit cards. Most banks have a minimum interest-free period of 20 days (that is, from the billing date to the repayment date) and a maximum repayment period of 56 days (that is, from the day after the billing date to the next repayment date).
For example, what does the interest-free period of credit cards mean?
Card friend Xiaobai holds China Merchants Bank credit card. The 22nd of each month is the bookkeeping date, and the repayment date of the next month is 10. If Xiaobai spends 1000 yuan by credit card on the day before the billing date (2 1 in the current month), the bank will account for it on the same day. Then, the 1000 yuan spent by Xiaobai needs to be repaid in full on 10 next month in order to enjoy interest-free treatment. In other words, the period from 2 1 of the current month to1of the next month is the interest-free period of the credit card enjoyed by Xiaobai.
What does the interest-free period of credit cards mean? Through the above introduction, card friends should be clear. The interest-free period of credit cards is directly related to the immediate interests of cardholders, so we must grasp it well.
What is an automatic interest-free credit card?
If you swipe your card within the billing period provided by the bank, you can enjoy automatic interest-free as long as you repay it in full on the last repayment date.
Interest-free period, the standard point means, from the day you swipe your credit card to the day between your next repayment date. During this period, the bank will not charge you interest.
The interest-free period of each credit card bank is different. The interest-free period depends on the specific credit card bank regulations you use.
Special attention: Generally speaking, credit card withdrawal does not enjoy interest-free period, and bank debts are not paid off and do not enjoy interest-free period.