If you fail to repay the total amount of the current period's repayment in full on the due payment date, for example, if you only pay the minimum repayment amount, the card issuer will charge interest.

Interest calculation method: If the cardholder’s cumulative repayment before the due repayment date (including the day) is less than the entire repayment, the interest before the repayment date will be calculated based on the entire repayment. Interest after the payment date is calculated based on the unpaid amount, charged at a daily interest rate of 0.05%, and compound interest is calculated on a monthly basis.

In addition, if the cardholder fails to repay the minimum repayment amount required by the card-issuing bank before the due repayment date (including the current day), in addition to paying the loan interest, the outstanding portion of the minimum repayment amount will also be paid. A late fee of 5 is paid. The above interest accrual days are the actual number of days from the bank accounting date to the repayment date.

Extended information

The consequence of not being able to repay the credit card in full is that interest will be charged, but the consequences of overdue credit card repayment are more serious, so overdraft consumption should be moderate.

Although the biggest feature of a credit card is its overdraft function, it actually constitutes a loan relationship between the customer and the bank. Failure to repay when due may not only cause legal disputes, but also bear high penalties. The most important thing is that it will form a bad credit record, which will have a negative impact on your future work and life.

1. Bear high penalties and interest. The penalty fees usually involved are recurring interest fees and late payment fees. Revolving credit is essentially a small, unsecured loan that accrues interest on a daily basis. If the full amount is not repaid on the final payment date, revolving credit interest will accrue on the next statement, and the interest will be charged from the date the consumption is recorded. Calculate interest.

2. Defaulting customers may also face legal disputes. According to the provisions of the "Criminal Law", for malicious overdrafts of more than 5,000 yuan on a credit card, and the bank has not paid back after three months of collection, if the circumstances are serious, criminal liability may also be pursued for fraud.

3. Go to the credit bureau. In 2006, the central bank established a national unified basic database of corporate and personal credit information. As long as you apply for a card or obtain a loan at a bank, your own "credit report" will be automatically generated in the system. The "credit report" in this report "Taint" cannot be ignored. It will affect applications for various loans, insurance, job hunting, studying abroad, etc. Bad records are generally retained abroad for 7 years.

Baidu Encyclopedia-Credit Card Repayment