The so-called late payment fee refers to a punitive fee charged by each entity to a payer who exceeds the prescribed payment deadline. The late payment fee is a one-time charge. If a credit card holder fails to repay the loan after the final payment date, he or she will also be charged a late payment fee. Today, I will introduce to you card friends what the late payment fee on a credit card means and how this credit card fee is charged.

What is a late payment fee for a credit card? A late payment fee for a credit card means that the cardholder needs to pay a certain percentage of penalty to the bank when the actual repayment amount is lower than the minimum repayment amount on the due date of the credit card. The proportion of late payment fees is uniformly stipulated by the People's Bank of China, which is 5% of the unpaid portion of the minimum repayment amount, with a minimum of 10 yuan. If only 1 yuan is not repaid and it is overdue, you will also have to pay a late fee of 10 yuan. In addition, the minimum credit card payment is generally 10% of the bill amount.

How to calculate late payment fees on credit cards? Once a late payment fee is incurred on a credit card, it means that the cardholder's credit card is overdue. At this time, the cardholder must pay off the amount in time and contact the bank to explain that the overdue payment is not malicious. How to calculate late payment fees on credit cards, with examples: Reminder: The reason why banks set late payment penalties on credit cards is mainly to urge cardholders to repay on time and spend rationally. If you are unable to repay due to excessive consumption, the credit stain will directly affect the cardholder's use of credit card and loan application. Reasonable use of credit cards for consumption is a basic principle that every cardholder should follow in order to better enjoy the convenience and benefits that credit cards bring to everyone. Credit card application platform