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Why does China Guangfa Bank have to pay interest of 1,000 yuan for a credit card overdraft of 3,000 yuan in less than half a year?

If you fail to pay the minimum payment in March, you will not only be charged interest, but also a late payment fee. The first month is 5% of the unpaid minimum payment, which is 300. 5%. The minimum repayment amount in the second month is not 300. It is all the repayment you did not pay last month. If it is not 3,000, it is more than 2,000. You can calculate how much 5% is. This is more than 100. , plus interest compounding, late payment fees also have to pay interest. There is also the third month, the interest will not be considered bad for you.

The main reason is that the late payment fees are relatively high. The interest itself is also high.

It’s better to find a way to return it quickly, otherwise there will be more.