Before using credit cards, many cardholders usually calculate the longest interest-free period according to the billing date and repayment date to decide the most cost-effective day to start spending. So, how to calculate this interest-free period? Let's take China Merchants ELLE co-branded credit card as an example to give you a detailed introduction.

What is the interest-free period of credit cards?

Cardholders who have used credit cards know that after using credit cards to overdraw their consumption, the bank will not ask you to repay immediately, but will send you a bill on a fixed day and give you a final repayment date, asking you to repay before this final repayment deadline comes.

The period from the date of consumption to the date of final repayment is the interest-free period of the credit card. The interest-free period of China Merchants Bank credit card is generally within 20 to 50 days.

It should be noted that the interest-free period is not the absolute value of the credit card consumption day plus 50 days. The interest-free period is calculated according to the number of days difference between the user's actual shopping date and the billing date.

So, how to get the longest interest-free period?

The interest-free repayment period is 20 to 50 days, and the length of time will depend on the specific time of the cardholder's consumption. If the cardholder's consumption is before the current bill date, it will be included in the current bill; You can enjoy a longer interest-free period if you include it in the next bill after the bill date.

explain

Xiao Qi's credit cards have a monthly billing date of 5 days and a repayment date of 25 days.

Example of the shortest interest-free period: Xiao Qi swiped the card 100 yuan on April 4, and this fee was included in the bill on April 5, and it needs to be repaid on April 25. If Xiao Qi repays the loan on April 24th, the interest-free period of this fee is the shortest, which is 20 days.

Example of the longest interest-free period: Xiao Qi swiped the card 100 yuan on April 6, and this fee was included in the bill on May 5, and it needs to be repaid on June 25. If the customer repays the loan on June 25th, the fee will enjoy the longest interest-free period of 50 days.

Reminder: if the cardholder fails to repay in full before the final repayment date, the consumption in the bill will not enjoy the interest-free period; At the same time, there is no interest-free period for China Merchants Bank's credit card cash withdrawal (also known as cash advance).