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What is the meaning of credit card revolving interest and how to calculate it?
Hello, revolving interest is a small unsecured loan with daily interest. Examples of revolving interest:

If the bookkeeping date is 5th of each month, the due repayment date is 23rd of each month; The current bill printed by the bank on April 5 includes all trading accounts from March 5 to April 5;

Suppose there is only one consumption in the current bill, the consumption amount is 65,438 yuan+0,000 yuan, and the time for merchants to ask for payment is March 30;

The "payable amount in this period" printed in this bill is 65,438 yuan+0,000 yuan, and the "minimum repayment amount" is 65,438 yuan+0,000 yuan; In different cases, the revolving interest is:

① If 65,438+0,000 yuan is paid off in full before April 23rd, the circulating interest in the statement on May 5th will be zero;

② If only the minimum repayment amount is 65,438+000 yuan on April 23rd, the revolving interest on the statement on May 5th will be 65,438+07.85 yuan.

The specific calculation is as follows: 1000 yuan ×0.05%×24 days (March 30 to April 22) +( 1000- 100) yuan ×0.05%× 13 days (April 23 to 5)