The Measures for the Administration of Bank Cards have corresponding provisions on this:

Article 21 When a cardholder chooses the minimum repayment method or uses a card that exceeds the credit limit approved by the issuing bank, he will no longer enjoy the interest-free repayment period, and will pay overdraft interest at the prescribed interest rate from the bank bookkeeping date.

When withdrawing cash or overdraft, the cardholder shall not enjoy the interest-free repayment period and the minimum repayment amount, but shall pay the overdraft interest calculated at the prescribed interest rate on the cash transaction amount or overdraft amount from the bank bookkeeping date.

Extended data:

? service charge

In the early days of credit card installment business, banks often advertised under the banner of "interest-free", and many citizens were really fooled. In fact, interest-free is not free, just a different name.

Generally speaking, the handling fee of credit card installment 1 year is lower than the annual cash withdrawal interest 18%, and higher than the bank commercial loan interest 1 year 5.3 1%. It is worth mentioning that the loan interest rate of commercial banks has been lowered many times since last year, but the standards of credit card installment fees and cash withdrawal interest have rarely changed. Although different banks have different standards for credit card installment fees, the calculation method is roughly the same.

Suppose the installment amount is 1.200 yuan, divided into 12 installments, and each installment (month) repays 1.000 yuan, and the handling fee is 0.6%/ month, and the actual monthly deduction is100+1.200× 0. If other factors are not considered, the convertible nominal annual interest rate is 7.2%. But the cardholder did not always owe the bank 1.200 yuan. In the last month, he actually only owed the bank 1 1,000 yuan, but the bank still charged the handling fee according to 1, 200 yuan.

According to the calculation, the actual annual interest rate that the cardholder has to pay is about 15.48%. According to the correct calculation formula, it should be1200 * 6% * (1+6%)12/(1+b)12-1) =/kloc.

Baidu Encyclopedia-Bank Card Management Measures