There is a clear difference between the optimal repayment method and the minimum repayment method of ICBC credit card. First of all, there is a difference in the repayment amount between the two. The optimal repayment requires full repayment of the current bill, while the minimum repayment is 10% of the total bill. Repayment in full means that you will not need to pay late fees and enjoy an interest-free period, while the minimum repayment will involve consumer interest, which increases the cost of repayment.

Secondly, in terms of time, the optimal repayment must be paid before the bill due date to ensure that there is no overdue risk. The minimum repayment allows you to repay the minimum amount before the maturity date, but the remaining balance needs to be repaid in subsequent installments without interest-free treatment. This means that minimum payments may result in interest accumulation, which may create a greater financial burden in the long term.

In addition, late repayment may also bring about a series of adverse consequences. Overdue payment will result in high penalty interest, including recurring interest and late payment fees, which will affect personal credit. Banks may outsource collection work to third parties, resulting in rough collection methods and causing trouble to personal lives. The most serious thing is that overdue records will be recorded in the personal national credit information system, which will have a negative impact on applying for loans, insurance, job hunting, and even studying abroad, and bad records will usually be retained abroad for seven years.

Therefore, choosing the optimal repayment will not only help avoid additional fees, but also maintain a good credit record. The minimum repayment needs to be carefully considered to avoid unnecessary long-term interest burdens and credit risks. When using a credit card, it is important to understand and choose your repayment method appropriately.