What is the minimum credit card repayment?

The minimum repayment amount means that the credit card holder is unable to repay the entire amount due on the repayment date. At this time, the minimum repayment amount (bill amount * 10) stipulated by the card issuer can be used. Repayment can avoid overdue repayment, which will affect your personal credit record, but you will not be able to enjoy interest-free repayment. Generally speaking, the minimum repayment amount will be listed in the bill of the month.

For example, if you spend 5,000 yuan on your credit card that month and pay off the minimum repayment amount of 500 yuan, the interest will be calculated based on your arrears of 5,000 yuan multiplied by 50,000 per day. If you spend another 5,000 yuan next month, the bill will be 9,500 yuan, and the minimum repayment amount will be 950 yuan, but your interest will be calculated based on the 5,000 yuan from the previous period plus the 5,000 yuan for the current month, which is 10,000 yuan. If you no longer use the card for consumption, the card issuer will continue to charge you 0.05% interest every day on the 10,000 yuan you owe until you pay back all the money you owe. What is the minimum credit card payment?

Minimum repayment amount" refers to the minimum amount that cardholders should repay as stipulated by the card issuer, including a certain proportion of the accumulated unpaid principal of consumer transactions and the principal of cash withdrawal transactions, all fees, interest, and excess account balance The sum of the amount owed on the credit limit, the amount owed by the cardholder as specified by the card issuer, and the unpaid portion of the minimum payment amount from previous months.

The minimum payment amount is when using a revolving credit. , the minimum amount that needs to be repaid in the current month, and the minimum repayment amount is listed on the current bill?

The minimum repayment amount of each period of bill is calculated:

Minimum repayment amount =. 10 All general transactions on the credit card account

100 All unsettled installment transactions in the account The amount of a single period 100 The unpaid portion of the minimum repayment amount of the previous period 100 All funds used in excess of the account credit limit 100 Fees 100 Interest

Extended information:

1. Liquidated damages

If the cardholder fails to pay off the minimum payment of the previous bill before the due payment date (inclusive) Amount, our bank will charge corresponding liquidated damages based on 5% of the unpaid minimum repayment amount in accordance with the "China Merchants Bank Credit Card Regulations", with a minimum charge of RMB 10 or USD 1.

2. Issuance of the card. The institution will evaluate and adjust the cardholder's account overdraft interest rate and minimum repayment ratio based on the cardholder's credit status and card usage history. The upper limit of the account overdraft interest rate is 0.5% of the daily interest rate, and the lower limit of the account overdraft interest rate is 0.5% of the daily interest rate. 0.7 times of five;

The corresponding upper limit of the annualized interest rate is 18.250, and the lower limit is 12.775 (Affected by factors such as the number of days in the month and the repayment situation of the cardholder, the actual annualized interest rate is different from the above Annualized interest rates may vary)

China Merchants Bank - China Merchants Bank Credit Card Regulations (Ninth Edition)

China Merchants Bank - What is the minimum repayment amount and liquidated damages for credit cards? ?

The minimum repayment amount for a credit card is 10% of the bill amount.

The minimum repayment amount is when the credit card holder cannot repay the entire amount due on the repayment date. Repay according to 10% of the minimum repayment amount stipulated by the card issuer. This can avoid overdue effects on personal credit, but cardholders will not be able to enjoy interest-free repayment benefits. Usually the minimum repayment amount will be displayed on the bill of the month.

For most credit cards, the minimum repayment factor is generally 5 or 10 of the current consumption amount (depending on different banks). The minimum repayment amount for the current bill is calculated as follows:

Consumption within the credit limit * proportional factor (5 or 10) 100 of the annual fee 100 of the cash advance transaction amount 100 of the unpaid portion of the minimum repayment amount in the previous period * proportional factor of the consumption exceeding the credit limit (5 or 10) Other fees and interest * scaling factor (5 or 10).

How to calculate my minimum repayment amount?

A simple general formula: minimum repayment amount = 10 of the consumption within the credit limit (most banks are 10, there are also some The bank is 5) 100 for the cash advance transaction amount, 100 for the unpaid portion of the previous minimum repayment amount, 100 for consumption exceeding the credit limit, and 100 for fees and interest. Note: Repayment based on the minimum repayment amount will accrue full penalty interest ( (Except ICBC), the consumption on the current bill will be charged compound interest of 0.5% every day from the date of consumption. I want to repay the 50,000 yuan I spent with a Bank of Communications credit card in 24 months. How much do you need to repay each month? What is the minimum monthly payment?

1. The Bank of Communications credit card installment fee rate is: 0.72/period, the repayment amount per period = installment principal * installment handling fee, installment principal/number of installments = 50000*0.72 50000/24= 360 2083.3=2443.3 yuan/period

2. Minimum monthly repayment = 5,000 interest and other expenses (interest is generally calculated at 50,000 per day, that is, monthly interest is 1.5)

Minimum repayment amount definition: The minimum repayment amount means that if the cardholder has difficulty repaying all the amount payable before the due repayment date (inclusive), he can repay according to the minimum repayment amount stipulated by the card issuer, but he cannot Enjoy the interest-free repayment period, and the minimum repayment amount is 10% of the consumption amount plus other various payables. The minimum payment is listed on the current bill.

Extended information

Methods for handling Bank of Communications credit card consumption installments

A single consumption installment can be processed through Bank of Communications online banking, mobile banking, SMS, customer service and other channels. .

1. Online banking processing:

Log in to Bank of Communications Online Banking → Credit Card → Credit Card Installment → I Want Installment. You can apply for single consumption installment and balance installment here.

The steps to cancel installment payment through online banking are as follows: Log in to Bank of Communications online banking → Credit card → Credit card installment payment → Terminate early.

2. Mobile banking processing:

Log in to Bank of Communications mobile banking → Financial Services → Credit Card → Installment → I want installment.

The steps to cancel installment payment via mobile banking are as follows: Log in to Bank of Communications Mobile Banking → Financial Services → Credit Card → Installment → Early Termination.

3. SMS processing:

Edit the SMS CC and send it to 95559.

4. Telephone processing:

Call the Bank of Communications customer service hotline: 400-800-9888.

Note: Once the installment payment is successfully processed, the number of installments cannot be changed. If you need to end the installment early, the handling fee collected will not be refunded, and the remaining handling fee must be paid in one lump sum.