How is the minimum repayment amount of Bank of China credit card calculated?

Minimum repayment calculation rules: 10% of the consumption amount within the credit limit, 100% of the cash advance transaction amount, and 100% of the initial minimum repayment amount. 100% of the unpaid balance exceeds the credit limit and 100% of the consumption amount. All fees and interest are 100%. Warm reminder: Repaying according to the minimum repayment amount on the bill will not affect your credit status, but you will not be able to enjoy the interest-free repayment period.

The above content is for your reference, please refer to actual business regulations.

How is the minimum repayment amount of a credit card calculated?

The proportional interest value date. 1. Proportion: The minimum repayment amount accounts for 10% of the amount due (the total amount of the bill), some banks are 5% (very few)

2. Interest: The bank will calculate the total amount of the bill every day Interest is charged at 0.5%. Remember the words "full bill" and "every day". If calculated based on a 30-day month, the monthly interest is 0.5%. For example: if you spend 10,000, then the minimum repayment amount is It is 1,000, and one month’s interest is 100,000.015 = 150 yuan

3. Value date: And the value date is calculated from the day after you consume, which means that once you use it, you actually owe one Monthly interest. Generally speaking, the biggest disadvantage of this method is that the interest rate is too high. It is not recommended to use it. In fact, there is a better solution, which is also provided by the bank. However, many people do not know that the minimum repayment amount of the extended information credit card is stipulated by the bank. The minimum amount that must be repaid every month. As long as the cardholder repays before the final repayment date, and the amount is higher than this, it will not affect the personal credit record; if the repayment amount is higher than the minimum repayment amount, it will be lower than the full repayment amount. , then the cardholder no longer enjoys the interest-free treatment and the bank will charge interest.

The minimum repayment factor of a credit card is generally 5% or 10% of the current consumption amount (depending on different banks). The minimum repayment amount of the current bill is calculated as follows:

The proportion coefficient of consumption within the credit limit (5% or 10%) 100% of the annual fee 100% of the cash advance transaction amount 100% of the unpaid portion of the minimum repayment in the early period exceeds the proportion of consumption within the credit limit (5% or 10 %) Other fees and interest proportion coefficient (5% or 10%) minimum repayment amount, that is, the credit card holder is unable to repay the entire amount due on the repayment date. At this time, the minimum repayment amount stipulated by the card issuer can be followed Repay the amount (10% of the bill amount), so as to avoid being overdue and affecting your personal credit record, but at the same time you will not be able to enjoy the interest-free repayment treatment. Generally speaking, the minimum repayment amount will be listed in the bill of the month.

Many people choose to repay with the minimum payment amount when they are unable to repay the entire amount that month. So how does the card issuer charge interest fees after paying off the minimum payment amount?

For example, if you spend 5,000 yuan on your credit card that month and pay off the minimum repayment amount of 500 yuan, the interest will be calculated based on your arrears of 5,000 yuan multiplied by 50,000 per day. If you spend another 5,000 yuan next month, the bill will be 9,500 yuan, and the minimum repayment amount will be 950 yuan, but your interest will be calculated based on the 5,000 yuan from the previous period plus the 5,000 yuan for the current month, which is 10,000 yuan. .

If you no longer use the card for consumption, the card issuer will continue to charge you 0.5% interest every day on the 10,000 yuan you owe until you pay back all the money you owe.

We all know that there are three ways to repay a credit card: full payment, bill installment, and minimum payment amount. It would be good if you can pay it all off in the same month. After all, there are generally many credit cards nowadays. There is an interest-free period of up to 50 days. If this is not possible, it is also recommended to choose bill installments to repay. Although the minimum repayment amount can avoid causing a bad credit record, the interest cost is relatively high.

How is the minimum repayment of a credit card calculated?

The calculation is as follows: China Construction Bank: Minimum repayment of a credit card = The unpaid portion of the minimum repayment of the previous period, the accumulated installment amount, and the accumulated unpaid expenses and interest 10% of the accumulated unpaid cash withdrawal amount 10% of the accumulated unpaid consumption amount Transaction amount exceeding the credit limit (including fees and interest) - 10% of the consumption principal for error processing - 10% of the cash withdrawal principal for error processing 10%

How is the minimum repayment calculated?

The calculation rule for the minimum repayment is: 10% of the 10% cash you consume and all the interest on the current bill All charges on the bill (that is, late fees, over-limit fees, etc.) are the unpaid portion of the minimum repayment amount on the previous period's bill, so the minimum repayment amount is not a fixed value and depends on your arrears.

Each bill will give you a full repayment amount and a minimum repayment amount. You can just repay according to the bill amount. As long as you don’t default, it will not affect your credit record. There are downsides, but you'll pay extra interest. The interest is calculated at 50,000 per day starting from the date your consumption is recorded. The interest will be compounded on each billing date, so it is recommended that you repay in full as soon as possible.

Paying the minimum repayment amount will not affect your personal credit. However, because you have not repaid the full amount, your consumption will not enjoy the interest-free repayment period. All transaction amounts will be calculated from the date the consumption is recorded. Interest will be collected until the repayment date, and compound interest will be collected on a monthly basis. The interest rate on the base day is 0.05%.

The billing date of a credit card is the date when the bank sends you a credit card consumption statement for the previous month. The statement records your consumption and the amount you need to repay this month, and also displays the minimum repayment amount this month. .

Your repayment period is from the bill date to the repayment date. You need to repay within this time period. If you repay overdue, the consequences will be serious. In addition, banks generally have a repayment grace period, which means you have a few days of grace for repayment after the repayment date. If you repay within the grace period, the bank will not count you as overdue. If you do not repay after the grace period, your overdue information It will be recorded on your credit report.

There are four methods for querying the repayment amount of CCB's credit card, which are introduced below:

Method 1: Log in to CCB Personal Online Banking, click Credit Card - Credit Card Inquiry, select the credit card you want to query, and click Check the CCB credit card repayment amount before the bill is issued or the bill has been issued;

Method 2: Open the Alipay website, log in to the Alipay account, click on the transaction record, and check the CCB credit card repayment status in the transaction record. It is "Repayment" "Payment successful" status;

How to calculate the minimum repayment of Bank of China credit card.

The minimum repayment amount refers to the minimum amount you should repay (also called the minimum repayment amount), when the cardholder has difficulty repaying all the amount due before the due payment date (inclusive) , you can repay according to the minimum repayment amount on the bill without affecting your credit status, but you cannot enjoy the interest-free repayment period.

The calculation method of the minimum repayment amount:

The minimum repayment amount = the consumption amount within the credit limit × 10% of the cash advance transaction amount × 100% of the minimum repayment amount in the previous period that has not been repaid Part × 100% of the amount used over the credit limit × 100% All fees and interest × 100%.

The above content is for your reference, please refer to actual business regulations.

What is the minimum credit card repayment?

The minimum credit card payment is 10% of the bill amount.

The minimum repayment amount means that when the credit card holder is unable to repay the entire amount due on the repayment date, he or she can repay 10% of the minimum repayment amount stipulated by the card issuing bank. This can avoid Overdue payments will affect personal credit, but cardholders will not be able to enjoy interest-free repayment benefits. Usually the minimum repayment amount will be shown on the monthly bill.

For most credit cards, the minimum repayment factor is generally 5% or 10% of the current consumption amount (depending on different banks). The minimum repayment amount of the current bill is calculated as follows:

The consumption ratio coefficient within the credit limit (5% or 10%) 100% of the annual fee 100% of the cash advance transaction amount 100% of the initial minimum repayment amount 100% of the unpaid portion exceeding the credit limit consumption ratio coefficient (5 % or 10%) other fees and interest proportion coefficient (5% or 10%).

How to calculate my minimum payment?

A simple general formula: minimum payment = 10% of the consumption within the credit limit (most banks are 10%, There are also some banks where it is 5%) 100% of the cash advance transaction amount 100% of the unpaid part of the minimum repayment amount exceeding the credit limit 100% of the fees and interest 100% Note: Repayment based on the minimum repayment amount will Full penalty interest will be charged (except ICBC), and compound interest of 0.5% will be charged every day from the date of consumption on the consumption in the current period.

That’s it for the introduction of how the minimum credit card repayment is calculated.