There are two types: one-time full refund. That is, if the user can pay off all the debt at once, then he can get a full refund of the principal and interest. Interest is paid in advance on an installment loan (part of it can still be enjoyed in installments).

When repaying in advance, do not choose credit cards without collateral or guarantee. Most of these products are mainly overdrafts, and the interest rates are usually high, which can easily bring losses to you. Before the credit card is paid off, it is best to repay the principal and interest in equal amounts in cash, which can effectively prevent risks caused by sudden cash turnover. If you encounter a situation where your credit card cannot be repaid in full at once, you must make a request to the bank for repayment in installments as soon as possible to avoid saying nothing.

How to apply for an interest refund on a credit card:

1. If you want to apply for an interest refund on a credit card, you need to know whether the user's situation meets the interest refund regulations. For example, if the overdraft amount is not repaid due to a breach of contract due to force majeure, and the compound interest charged on this part and the relevant service fees have been deducted, you can request an interest refund.

2. Give the credit card center a lot of money and apply for a refund of the credit card penalty. If you are overcharged with interest, you can refund it. If you don't cooperate, you can complain to the relevant department. Because excessive interest is illegal, you can file a complaint and get your money back.

The new credit card regulations in 2022 are as follows:

1. Liquidated damages replace late payment fees. After the implementation of the new credit card regulations, late payment fees arising from overdue payments will be replaced by liquidated damages. Although both charging standards are charged at 5% of the unpaid portion below the minimum repayment amount, liquidated damages will prevent the occurrence of interest compounding;

2. The credit card sentencing standards have been raised. If a credit card is overdue, you may be held criminally responsible, especially if you maliciously overdraft your credit card, which constitutes credit card fraud, you will be arrested and imprisoned. The new regulations for overdue credit cards will increase the sentencing standard from the previous 10,000 yuan to 50,000 yuan;

3. The minimum repayment amount may be less than 10. After the new credit card regulations, the minimum repayment amount of the bank is not necessarily 10. The specific amount is decided by the bank itself. At present, most banks still set the minimum repayment amount at 10, and some set it at 5 or even lower;

4. Set upper and lower limits on overdraft interest rates. In the past, credit cards that exceeded the interest-free period were calculated based on a daily interest rate of 5/10,000. However, the new rules set upper and lower limits for overdraft interest rates. The upper limit is a daily interest rate of 5/10,000 and the lower limit is a daily interest rate of 5/10,000. 0.7 times, generally in the range of 0.035 to 0.05;

5. The interest-free period may exceed 60 days. In the past, the interest-free period for credit cards was as short as 20 days and as long as 56 days. However, after the implementation of the new regulations, the interest-free period of some banks can be up to 60 days, which is equivalent to two months of free use of the card. For cardholders, It is a good thing for people;

6. Credit card cash withdrawals are included in the minimum repayment amount. In the past, credit card cash withdrawals did not require a one-time repayment, but the new regulations stipulate that the monthly cash withdrawal amount will enter the minimum repayment amount of this month's bill, and must be paid off in one time, otherwise it will be overdue. This increases the repayment pressure on cardholders, so don’t withdraw cash easily.

Legal Basis

"Measures for the Supervision and Administration of Credit Card Business of Commercial Banks"

Article 61 The card-issuing bank shall provide reconciliation services. The statement should at least include the transaction date, transaction amount, transaction currency, transaction merchant name or code, current repayment amount, current minimum repayment amount, due repayment date, precautions, card-issuing bank service phone number and other elements. The specific form of reconciliation service shall be agreed upon by the card-issuing bank and the cardholder.

When the card-issuing bank provides statements and other service vouchers to cardholders, it shall partially block the credit card number and shall not display the complete card number information. Except for business vouchers printed at bank counters.

"Consumer Rights and Interests Protection Law of the People's Republic of China (2013 Amendment)"

Article 8 Consumers have the right to know the goods they purchase and use or the services they receive. The right to truth.

Consumers have the right to require operators to provide the price, origin, producer, use, performance, specifications, grade, main ingredients, production date, expiration date, and inspection of the goods based on the different conditions of the goods or services. Certificate of conformity, instructions for use, after-sales service, or service content, specifications, fees and other relevant information.