If it is overdue, interest will be charged.

In fact, many banks stipulate a minimum repayment amount when repaying credit cards. However, there are generally two situations when credit cards are not repaid in full when they are due:

1. If the repayment amount does not reach the minimum repayment amount, certain late fees and penalty interest will be incurred, and an overdue record will be left on the personal credit report.

2. The repayment amount meets the minimum repayment amount. Although the minimum repayment amount is reached, the full amount is not repaid. In this case, only penalty interest will be incurred, and the cardholder will not be able to repay the amount. Then enjoy interest-free repayment for consumption.

In order to improve the marketization mechanism of the credit card business, meet the public's increasingly rich credit card payment needs, improve the quality of credit card services, and promote the healthy and sustainable development of the credit card market, the People's Bank of China recently issued the "People's Bank of China on the Credit Card Business" Notice on Relevant Matters" (hereinafter referred to as the "Notice"), which will come into effect on January 1, 2017. Extended information

According to the "Notice of the People's Bank of China on Matters Related to Credit Card Business":

2. Interest-free repayment period and minimum repayment amount

Hold The conditions and standards for cardholders to enjoy the interest-free repayment period and minimum repayment amount for overdraft consumption are determined independently by the card issuer.

3. Liquidated damages and service fees

Cancel credit card late payment fees. For cardholders who default on overdue payments, the card issuer shall agree with the cardholder through an agreement whether to charge for default. fees, as well as related collection methods and standards.

Baidu Encyclopedia-Minimum Repayment Amount