Usually, after your last credit card consumption, the bank will give you a credit card bill, which will clearly list your current repayment amount and minimum repayment amount. If you happen to be unable to turn over the capital, you can't repay it in full at the moment. In order to prevent overdue, you choose the minimum repayment amount. Don't think everything will be all right. There are still many traps waiting for you. If you are not careful, all the money you saved before will be used to fill the big hole of repayment. So, which minefields should the minimum repayment amount pay attention to? Come and have a look with me ~

One of the evil pits: minimum repayment amount = giving up interest-free period.

The consumption pattern of credit card is simply the process that the bank lends you money for free and you repay it when it is due. The so-called interest-free period means that you don't have to pay any other fees to the bank as long as the cardholder repays within the specified repayment time. Therefore, if you choose the minimum repayment method, it means that you automatically give up the interest-free period, because you can't repay on time, so you have to bear certain interest and handling fees. This extra charge needs to be calculated according to the number of days between your consumption date and repayment date. The daily interest rate is five ten thousandths, and the converted annual interest rate is as high as 18%, which is not a small expense.

The second evil pit: minimum repayment amount = full penalty interest

If you choose the minimum repayment method, it means giving up the interest-free period, and the bill interest you bear is equivalent to the full penalty interest. Let me give you an example to give you a more intuitive feeling of how deep the minimum repayment pit is.

Miss Zhang's credit card bill date is15 every month; On March 15, she received a credit card bill from the bank, which showed all her transaction records from February 16 to March 15, and asked her to pay off the previous arrears before April 10.

Suppose Miss Zhang only made a consumption on February 25th, and the amount was 10000 yuan. Then on the credit card bill, the current repayment amount 10000 yuan and the minimum repayment amount 1000 yuan will be displayed.

On April 10, Miss Zhang prepared to repay, and the interest generated by different repayment methods is as follows:

1) If full repayment is selected, the bill will not generate interest on April 10;

2) Select the minimum repayment amount. On April 10, the minimum repayment amount of Miss Zhang was 1000 yuan.

The interest generated by this bill = 10000*0.05%*45 days (February 20th-April 10) =225 yuan;

When repayment is made on May 10, it needs to be calculated: principal =9000+225=9225 yuan;

Principal interest =(9000+225)*0.05%*30 days = 138.375 yuan;

Compound interest = 138.375*0.05%*30 days ≈2.07 yuan;

The total interest to be paid = 225+138.375+2.07 ≈ 365.45 yuan.

The above is the trap I sorted out for you about the minimum repayment amount. Before swiping a credit card, you need to evaluate your repayment ability. If you feel that you will be careless and unable to repay on time, it is recommended to write the due repayment date on the back of your credit card and set a monthly repayment reminder on your mobile phone. In any case, be sure to read the minimum repayment amount of each credit card and understand the terms of the credit card.