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What should I do if my China Merchants Bank credit card is overdue? How is the penalty interest calculated?

Late payment will incur late fees and interest, and will affect your personal credit. The customer's relevant credit information will be recorded in the personal credit database and become part of the credit record.

The late payment fee is 5% of the unpaid portion of the minimum repayment amount, with a minimum charge of RMB10 yuan or USD1 yuan. Interest will be charged on all consumption in the current period starting from the recording date (usually the next day after consumption), with a daily interest rate of 0.5% until you pay it off in full.