As we all know, after using a credit card, you must repay it. Logically speaking, after repayment, the amount owed will be less and less. However, some cardholders use the wrong method, and the result is that they have to pay back more and more on their credit cards. . To avoid this situation, everyone must pay attention when repaying the loan.

1. Minimum repayment amount

The minimum monthly repayment amount of many banks is 10% of the monthly bill. For example, if you owe 1,000 yuan, even if you repay 100 yuan, it will not be counted. Overdue. If you repay in this way, the remaining unpaid debt will not be eligible for interest-free treatment, and interest will be calculated at a daily interest rate of 0.05% from the date of consumption. The longer it takes to repay the entire amount, the higher the interest will be. .

2. Wrongly thinking that they have repaid the money

Some cardholders confuse the billing date and the repayment date of their credit card, and they think that the person who paid the loan will not repay the money after knowing it. , the money returned can only be counted as overpayment, not the current bill balance. Or the automatic repayment function is activated. As a result, the balance of the repayment card is insufficient and the bank deduction fails, and the bank does not make manual repayment. This will definitely cause it to be overdue. Overdue interest will accrue and liquidated damages will also be charged.

3. Mistakenly believe that there is a grace period

Many cardholders believe that all credit cards have a grace period, so they often do not repay on the final payment date, but postpone it. How many days does it take to repay? Who knows there are some banks that have no grace period at all, such as Industrial and Commercial Bank of China. That way you'll be paying off the debt within what you mistakenly think is the grace period, but it's actually overdue.

4. The repayment did not arrive in time

Although some cardholders made repayments on the last day, they did not grasp the arrival time because they transferred the repayment through a third-party platform. It may also be overdue due to delayed arrival, and the repayments will also increase.