Reasons for overdraft interest on credit cards:

1. Credit card: Consumers enjoy an interest-free repayment period. If they fail to repay in full before the due repayment date (inclusive), they will be charged with interest at the daily rate of 0.05% from the bookkeeping date, and will be compounded monthly until they are paid off. If the minimum repayment amount is not paid before the due repayment date, penalty will be charged; Overdraft withdrawal and transfer do not enjoy interest-free repayment period.

2. Quasi-credit card: interest-free repayment period is not enjoyed, and simple interest is charged at 0.05% per day from the bookkeeping date.

Tips:

1. Some credit cards of ICBC enjoy repayment grace period. If it is not repaid in full before the grace period expires, interest will be charged on all overdrafts;

2. The interest is calculated to the day before the bill date and reflected in the next bill. Please pay back in time.

(Answer time: April 22, 2022. In case of business changes, please refer to the actual situation. )

How to calculate the overdraft interest of ICBC credit card?

ICBC credit card overdraft interest is calculated as follows:

1. For the transaction of withdrawing cash and transferring money by credit line, the overdraft interest shall be paid at the rate of 0.05% per day from the bank bookkeeping date to the repayment date;

2. Except for cash withdrawal and transfer overdraft transactions, other overdraft transactions such as consumption can enjoy an interest-free repayment period of 25-56 days, and there is no need to pay overdraft interest for full repayment before the due repayment date;

3. For transactions that do not meet the interest-free conditions, the overdraft interest is calculated from the bank bookkeeping date, and the overdraft interest rate is 0.05% per day, with monthly compound interest;

4. The deposit in the account does not pay interest.

Extended data:

ICBC credit card withdrawal fee:

1. Credit card withdrawal fee: RMB is charged at 1% of the amount, with the lowest 2 yuan and the highest 100 yuan;

2. Each transaction is charged at 2.9% of the amount (including domestic and overseas), with a minimum of HK$ 3/MOP/USD/Euro, and other transactions are equivalent to a minimum of US$ 3.

3. Domestic transactions of military official cards, platinum cards and above are free.