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Shanghai Bank Credit Card Penalty Charge Standard
Shanghai bank's credit card penalty standard. If you use the credit card of Shanghai Bank, how much penalty should you pay because the minimum repayment amount has not been paid before the agreed time limit expires? Let's know the rules of this bank.

Shanghai Bank Credit Card will be charged a penalty of 5% of the unpaid minimum amount, with a minimum of 30 yuan RMB or US$ 4.

The calculation formula is

Liquidated damages = (minimum repayment amount-repayment due date) ×5%

The Origin of Credit Card Penalty in Shanghai Bank

According to the new regulations of the central bank, from 20 17 65438+ 10/day, major card issuers must cancel the late payment fee for credit cards. In case the cardholder fails to repay the loan, the issuing bank shall negotiate with the cardholder whether to levy liquidated damages, and the relevant collection methods and standards. In addition, the service fees such as liquidated damages, annual salary, handling fees and currency exchange fees charged by card issuers from cardholders shall not be charged with interest.

Tips:

According to the regulations of the central bank, Shanghai Bank is not allowed to charge interest on the default interest of credit cards, but it charges interest on the principal of credit card loans every day. The occurrence of credit card penalty indicates that the cardholder has breached the contract, which will seriously affect his personal credit record. Cardholders should try to keep good repayment habits.