However, from the date of consumption, it will generate five ten thousandths of interest every day and repay it with compound interest on a monthly basis. The calculation formula of interest is: the actual amount of credit card × interest rate × the number of days from the date of credit card swiping to the day before the minimum repayment amount+the remaining unpaid amount × interest rate × the number of days before the minimum repayment amount.
For example, suppose a credit card holder has no arrears in the early stage, the billing date of each month is 25th, and the repayment due date of the next month is 13. On 12.08+00, a total of 15000 yuan was spent, so in the statement of 12.25, the cardholder's "payable amount in this period" is 15000 yuan, and the "minimum repayment amount" is 750 yuan.
If the cardholder can't pay the repayment of15,000 yuan temporarily, he decides to use the minimum repayment method to help himself "by stages" and repay 750 yuan on June+10/October 65438+March 3. Then according to the current minimum repayment interest method of CITIC Bank (market area).
The recurring interest on the cardholder's statement of 65438+1October 25th is: 15000 yuan× 0.05 %× 34 days (from 65438+February 10 to 65438+1October10)
This 340.5 yuan is the interest that the cardholder needs to repay this month. If the cardholder still uses the minimum repayment method for installment next month, then this 340.5 yuan will also be included in the principal for cyclic calculation. In other words, if the cardholder chooses the minimum repayment amount, he will no longer enjoy the interest-free period of 20~50 days, and he will have to bear the daily interest of 0.5 ‰ and repay with compound interest on a monthly basis.