Current location - Trademark Inquiry Complete Network - Overdue credit card - Why does China Merchants Bank's credit card repay in full and on time with cyclic interest?
Why does China Merchants Bank's credit card repay in full and on time with cyclic interest?
If it is a CMB credit card, please check whether there is interest on the last bill and whether there is cash advance.

When you use revolving credit to repay a loan or pay cash in advance, you will be charged revolving interest. If all the consumption funds are paid off in full before the due repayment date of the current billing cycle, you can enjoy the interest-free period by swiping your card without generating cyclic interest; If you don't pay off all the bills in the current period on time, it will be regarded as using revolving credit. From the bookkeeping date (usually the day after consumption), interest will be charged on all the consumption in the current period, with a daily interest rate of five ten thousandths, until you pay off all the bills.

If you use the cash advance function, you cannot enjoy the interest-free period of cash advance. Interest will be calculated from the date of cash withdrawal, with a daily interest rate of 0.5 ‰, and compound interest will be calculated monthly until it is paid off.