Interest on overdue credit cardsgt; liquidated damages and handling fees shall not exceed 24% of the annual interest rate

1. After a credit card is overdue, interest will be calculated on a daily basis and must be charged together with the repayment; Liquidated damages are calculated based on the billing period. Of course, each bank's rules may vary. According to current laws and regulations, overdue credit card interest, liquidated damages and handling fees must not exceed 24% of the annual interest rate.

2. Specifically, if the loan exceeds the bank's grace period, it is overdue, and the interest is generally calculated at 0.05; liquidated damages are also calculated on a daily basis. The general calculation standard is 5% of the outstanding portion of the minimum repayment amount, and there is a one-time charge.