Detailed description:
1. Credit card is a lending tool, and banks provide users with a certain loan amount by issuing credit cards. Users can choose full repayment or minimum repayment when using credit cards. If the user chooses the minimum repayment amount, the remaining arrears will be included in the next billing cycle and interest will be charged.
2. If the credit card user fails to repay, that is, fails to repay after the due date of the bill, the bank will consider the loan as outstanding. According to the relevant terms of the credit card, the bank has the right to calculate the interest on the arrears. Therefore, one day overdue repayment will also generate interest.
3. Interest is generally calculated at the daily interest rate. The specific interest rate can be known through the credit card contract or the relevant announcement of the bank. In the case of overdue repayment, the bank will calculate the corresponding interest according to the number of overdue days and the amount of arrears, and add it to the total arrears of users in the next billing cycle.
Summary:
Credit cards will also charge interest for one day overdue. Although the overdue time is only one day, the bank will calculate the interest according to the number of overdue days and the amount owed, and add it to the arrears in the next billing cycle.
Extended data:
Overdue repayment will not only generate interest, but also have a negative impact on personal credit records. The management institution of personal credit records is the Credit Information Center of the People's Bank of China. If the credit card user is overdue for a long time or owes a lot, the credit information center has the right to record this information in the personal credit report, which will adversely affect the personal credit rating. This will cause some troubles for users to apply for loans and credit cards in the future.
Therefore, timely repayment is very important. If the repayment cannot be made on time due to special reasons, it is suggested to communicate with the bank and seek the way of deferred repayment or installment payment. Of course, as a credit card user, rational use and repayment is also one of the effective ways to improve personal credit.