The billing date means that the issuing bank will regularly summarize and settle all the transactions and expenses of your credit card account in the current period every month, calculate the total amount owed and the minimum repayment amount in the current period, and send a statement for you. This date is your credit card bill.
According to the Notice on Issuing the Measures for the Administration of Credit Card Business:
Article 19 Credit card overdraft interest shall be charged at the rate of five ten thousandths of daily interest within 15 days from the date of signing the contract or the date of bank entry, and at the rate of five ten thousandths of daily interest after 15 days, and at the rate of fifteen thousandths of daily interest after 30 days or when the overdraft amount exceeds the prescribed limit. The overdraft interest is not divided into sections, and the interest is calculated according to the highest interest rate grade or the highest overdraft amount.
Extended data:
According to the Notice on Issuing the Measures for the Administration of Credit Card Business:
Article 29 The articles of association of a credit card shall include the following contents:
(1) The name, type and issuing target of the credit card;
(2) the scope of use of the credit card;
(3) Fees and charges;
(four) the rights, obligations and responsibilities of the issuing bank, the special unit and the cardholder;
(5) Other matters required by the People's Bank of China.
Article 30 Commercial banks must obtain the approval of the People's Bank of China for issuing foreign currency credit cards and IC cards and amending the articles of association of credit cards.
Thirty-first banks involved in credit card business should gradually cooperate in acquiring bills, equipment, information, card collection and other aspects in the process of opening credit card business.
Article 32 The head office of a bank offering credit card business shall submit the statistical statement of credit card business to the People's Bank of China on a quarterly basis, and its branches and card issuers shall submit the statistical statement of credit card business to the branches of the local People's Bank on a monthly basis.
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