How to calculate credit card compound interest

The calculation of credit card compound interest is to calculate the interest after the principal plus interest is economical. Generally, the interest of credit cards is divided into cash withdrawal interest and overdue interest, which is generally charged at a daily interest rate of five ten thousandths. Compound interest is calculated from the trading day plus principal and interest on a monthly basis until the settlement date.

CompoundInterest means that when calculating interest, the interest in a certain interest-bearing period is calculated by adding the principal to the total interest accumulated in the previous period, which is also commonly called "interest says interest" and "rolling interest".

the characteristic of compound interest calculation is that the sum of the principal and interest at the end of the previous period is taken as the principal of the next period, and the amount of the principal of each period is different when calculating. The present value of compound interest refers to the principal that must be invested now in order to reach a certain amount of funds in the future under the condition of calculating compound interest. The so-called compound interest, also known as profit-making in Galilee, refers to the method of making a new round of investment with interest after a deposit or investment is rewarded.

the final value of compound interest refers to the sum of the principal at the end of the agreed period after the principal receives interest within the agreed period. Simply put, it is to deposit A at the beginning, take I as the interest rate, and deposit the sum of the principal and interest after N periods. Formula: f = a (1i) n. Because inflation rate and interest rate are closely related, just like the two sides of a coin, the formula for calculating the final compound interest value can also be used to calculate the actual value of a specific fund in different years. Just change the interest rate in the formula into the inflation rate.

ordinary annuity final value: refers to the sum of principal and interest of equal income or expenditure at the end of each period in a certain period, that is, the amount of each period is converted to the final value at the end of the last period according to compound interest, and then added up, which is the final value of the annuity. If there are a lot of annuity periods, it is obviously quite complicated to calculate the final value by the above method. Because the annual payment is equal and the coefficient of converting the final value is regular, a simple calculation method can be found. The significance of compound interest is that it can continue to benefit from the benefits obtained. The core of compound interest is to add the interest calculated from the previous principal to the principal that will bear interest together, which will lead to more and more interest for the compound interest parties, thus generating huge profits.

How to reissue a stopped credit card

For a stopped credit card, the steps are as follows:

1. Find a credit card business hall.

2. Show your information proof.

3. explain the reason why the credit card is stopped to the shop assistant, and then reissue the card according to the method told by the shop assistant.

My credit card of China Merchants Bank was suspended, but now it has been paid off. How can I resume using it?

There are generally two types of overdue card freezing:

After the repayment is received, the card limit will be restored immediately.

after repayment, the card can't be used again. Just cut the card directly and handle it properly. You don't have to cancel it, and you can't cancel it.

Generally, it is overdue for more than 3 days, which may be the second case. You can't apply for another card. If you want to find out what kind of card your card belongs to, you can call the customer service of China Merchants Bank.

Extended information:

Credit card duplicate card

If the credit card is valid for 2 months or more after cancellation, you can call 4825555 and apply for a card to be restored manually.

after the cancellation of the whole household, you can call 4825555 within 6 months from now, and apply for the card to be restored manually, and the final result will be subject to the audit.

if the application for card recovery fails, you can apply for a new credit card.

to apply for a business card, you need to contact the company's authorized person to issue an application for a business card processing form.

A credit card can be opened at any time during its validity period. If the card is not opened all the time, it will automatically become invalid when it expires and will not be renewed automatically.

if you want to cancel the credit card that has not been opened, you can call the service hotline 4825555 (mobile phone call) or 8825555 (fixed line call only), and select "report loss" to enter the manual processing.

Article 33 of the Credit Card Charter of China Merchants Bank:

If the principal cardholder or the applicant no longer uses the credit card during the validity period or after its expiration, he shall notify the card issuer through the customer service hotline provided by the card issuer in time and apply to the card issuer for account cancellation. After 45 natural days after accepting the application for account cancellation, the card issuer will go through the formal account cancellation procedures for the cardholder.

when applying for account cancellation, the cardholder should return the credit card to the card issuer or destroy the card according to the regulations of the card issuer. After going through the formal account cancellation procedures, the card issuer will continue to reserve the right of recourse against the credit card accounts incurred before and after the account cancellation by the cardholder or applicant, and accept the customer's repayment.