Interest calculation of revolving credit:

The consumption amount of the last statement is the interest-bearing principal, and the interest-bearing days are from the account bookkeeping date to the account repayment date, and the daily interest rate is five ten thousandths. The interest on revolving credit will be listed in the next bill.

For example:

● Mr. Zhang's bookkeeping date is 5th of each month, and the due repayment date is 23rd of each month;

On April 5th, the current bill printed by the bank for Mr. Zhang included all his trading accounts from March 5th to April 5th.

● Mr. Zhang has only one consumption in this month's billing cycle-on March 30th, the consumption amount was 65,438 yuan+0,000 yuan;

● Mr. Zhang's current bill printed "payable amount in this period" is 65,438+0,000 yuan, and "minimum repayment amount" is 65,438+0,000 yuan;

● Under different repayment conditions, Mr. Zhang's revolving interest is:

(1) If Mr. Zhang repays 1000 yuan in full before April 23rd, the interest on the statement on May 5th will be 0 yuan.

(2) If Mr. Zhang only repays the minimum repayment amount of 65,438+000 yuan before April 23rd, the cyclic interest on the statement on May 5th = 65,438+07.4 yuan.

The specific calculation is as follows:

1000 yuan X0.05%X24 days (March 30th-April 23rd)

(1000 yuan-100 yuan) X0.05%X 12 days (April 23rd to May 5th)

What does credit card revolving interest mean?

1. The so-called revolving interest is charged when you use revolving credit or cash advances. Simply put, it is the interest generated when the minimum repayment amount is paid first when the full repayment cannot be made every month. When you always pay the minimum repayment, it will trigger the cyclic interest.

2. Revolving interest is the interest generated when you can't repay in full. The interest-bearing days are from the bookkeeping date of each account to the repayment date of the account, and the daily interest rate is five ten thousandths. If you use the cash advance function of the credit card, it will also generate cyclic interest. You need to charge interest at the rate of five ten thousandths of a day from the date of withdrawal to the date of settlement, and compound interest on a monthly basis until it is paid off. Cyclic interest means that the cardholder fails to pay off all the bills on the last repayment day after consumption, so the interest needs to be calculated from the day when consumption is recorded. Let's give a simple example to illustrate the problem: for example, your bill date is 18 every month and the due date is 7 every month. Then the current bill includes all consumption records from July 19 to August 18. If you only spent 1000 last month, the bill now is 65438. Minimum repayment 100 yuan. If only 65,438+000 yuan is paid back on August 8, the revolving interest will be 65,438+06.4 yuan. It seems less, but if the amount is larger, the revolving interest will increase. If the minimum amount is repaid several times in a row, it will not only affect the credit, but also cause an infinite increase in revolving interest. Cyclic interest is charged on a daily basis, and compound interest is charged on a monthly basis, which does not mean that it is deducted every month. The user pays off the consumption amount in full on the repayment date, and there will be no cyclic interest. If you use the cash advance function and use it every month, it will lead to the deduction of monthly circulating interest.

In addition, if there is no full repayment, choosing the minimum repayment amount will also generate cyclic interest, because users who choose the minimum repayment amount will also be unable to enjoy the interest-free service of credit cards.

How to calculate the revolving interest of credit card? This interest rate is ridiculously high.

Credit cards can be used for overdraft consumption or emergency cash withdrawal. However, cardholders use different ways, which may generate cyclic interest, which is not affordable for everyone. Let's take a look at how the credit card revolving interest is calculated.

One, two kinds of situations will produce cyclic interest:

1. Credit card withdrawal cannot enjoy the interest-free period, and interest will be calculated cyclically from the date of withdrawal;

2. Credit card repayment, which is not fully repaid on the last repayment date, or the minimum repayment amount, and the remaining unpaid amount generates cyclic interest from the date of consumption;

Two. Calculation formula of credit card revolving interest:

Cyclic interest is calculated on a daily basis, with a daily interest rate of five ten thousandths and compound interest on a monthly basis. You can calculate the revolving interest according to the following formula:

Cyclic interest = principal × five ten thousandths (interest) × days A (days from consumption date to current repayment date) (repaid amount) × five ten thousandths (interest) × days B (days from current repayment date to next billing date).

For example:

The billing date of Xiao A credit card is the 5th of each month, the repayment date is the 23rd, and it cost 2000 yuan on June 20th. The bill date on July 5th shows that the current bill is 2000 yuan, and the minimum repayment amount is 20 yuan. If it is fully paid off on July 23, there will be no circulating interest. However, if you only repay according to the minimum repayment amount, you will receive cyclic interest, which is divided into two parts.

Part of it is from the 20th day of consumption to the 4th day of repayment, with interest of 25,000.05% 4 = 5 yuan;

Part of it is the interest generated from the remaining unpaid amount on the current repayment date to the next bill, 14 days, and the interest is (2500-125) 0.0514 =15.418 yuan.

The total interest is 20.4 18 yuan.

What's with the revolving interest on credit cards?

1. Credit card revolving interest refers to the interest generated when the cardholder uses the credit line circularly, which generally means that the cardholder only pays the minimum repayment amount. In addition, credit card overdraft will also generate interest, and you cannot enjoy interest-free repayment period.

Two, whether the credit card generates cyclic interest should distinguish the following three situations:

1. If all the consumption funds are paid off before the due repayment date of the current billing cycle, credit card consumption can enjoy an interest-free period without generating cyclic interest;

2. If all bills in the current period are not paid off on time, it will be regarded as using revolving credit, and all consumption in the current period will be charged with interest from the bookkeeping date (usually the second day after consumption), with a daily interest rate of 0.5 ‰ until it is fully paid off;

3. If you use the cash advance function, you can't enjoy the interest-free period for the cash advance. From the date of cash withdrawal, interest will start to accrue, with a daily interest rate of 0.5 ‰, and compound interest will be calculated monthly until it is paid off.

I. The calculation of credit card interest mainly includes the following situations:

1. Cash withdrawal interest: after cash withdrawal by credit card, the bank will charge cash withdrawal interest on the cash withdrawal part. The daily interest rate is 0.05%, and the calculation formula is: withdrawal interest = 0.05% withdrawal days.

2. Interest on the minimum repayment amount: after applying for the minimum repayment amount, the bank will levy interest on the remaining unpaid amount, and the daily interest rate is also five ten thousandths. The calculation formula is: minimum repayment interest = 0.05% days of the minimum repayment part.

3. Overdue interest: When the credit card is overdue, the bank will levy overdue interest on the overdue part. The daily interest rate is 0.05%, and the calculation formula is: overdue interest = 0.05% days of overdue repayment.

2. In addition, the credit card bill records the credit card consumption amount last month, the repayment amount this month, the minimum repayment amount, the repayment date and other information. If you pay in full before the last repayment date of the credit card, there will be no interest. If only the repayment amount exceeds the minimum amount, but not the full repayment, you need to pay interest. Each bank charges different principal, but it is certain that all banks will generate interest. As long as the credit card is returned before the repayment date, the repayment date will be displayed on your credit card bill, and the bank will send it to the mailbox every month, so you can check it regularly.

What does credit card revolving interest mean?

When you use revolving credit to repay loans or pay cash in advance, you will be charged revolving interest:

If all the consumption funds are paid off before the due repayment date of the current billing cycle, credit card consumption can enjoy an interest-free period and will not generate cyclic interest;

If the bill of the current period is not paid off in full and on time, it will be regarded as a revolving credit line. Interest will accrue from the bookkeeping date (usually the day after consumption) for all consumption in the current period, with a daily interest rate of 0.5 ‰ until it is paid off in full;

If you use the cash advance function, you will not be able to enjoy the interest-free period of cash advance. Interest will be calculated from the date of your withdrawal, with a daily interest rate of 0.5 ‰, and compound interest will be calculated monthly until it is paid off.

Examples of revolving interest:

If the bookkeeping date is 5th of each month, the due repayment date is 23rd of each month; The current bill printed by the bank on April 5 includes all trading accounts from March 5 to April 5;

Suppose there is only one consumption in the current bill, the consumption amount is 65,438 yuan+0,000 yuan, and the time for merchants to ask for payment is March 30;

The "payable amount in this period" printed in this bill is 65,438 yuan+0,000 yuan, and the "minimum repayment amount" is 65,438 yuan+0,000 yuan; In different cases, the revolving interest is:

① If 65,438+0,000 yuan is paid off in full before April 23rd, the circulating interest in the statement on May 5th will be zero;

② If only the minimum repayment amount is 65,438+000 yuan on April 23rd, the revolving interest on the statement on May 5th will be 65,438+07.85 yuan.

The specific calculation is as follows: 1000 yuan× 0.05 %× 24 days (from March 30th to April 22nd) (1000- 100) yuan× 0.05 %×13 days (from April 23rd to May 5th)

What does "revolving interest" mean in credit card bills?

Revolving credit is a small unsecured loan with daily interest. According to your financial situation, you can decide the repayment amount by yourself every month before the current credit card bill expires. When the repayment amount is equal to or higher than the minimum repayment amount of the current bill, but lower than the current repayment amount, the remaining deferred repayment amount is the circulating credit balance. Revolving credit is a very convenient loan tool, which not only allows you to enjoy the convenience of swiping your card, but also is a good choice for you to manage your finances easily. If you choose to use revolving credit, you cannot enjoy the interest-free repayment period in the current period.

For example:

If your billing date is the 5th of each month, the due repayment date is the 23rd of each month;

The current bill printed by the bank on April 5 includes all your trading accounts from March 6 to April 5;

Suppose you only spend once in the current billing cycle, and the consumption amount is RMB 1000 yuan, and the time required by the merchant is March 30;

The current payable amount printed on your bill is 1000 yuan, and the minimum repayment amount is 100 yuan;

In different situations, your revolving interest is:

1) If 1000 yuan is paid off in full before April 23rd, the circulating interest in the statement on May 5th will be 0.

2) If only the minimum repayment amount is 65,438+000 yuan on April 23rd, the circulating interest on the statement on May 5th is 65,438+07.85 yuan, and the specific calculation is as follows:

1000 Yuan× 0.05 %× 24 days (from March 30th to April 22nd) (1000- 100) Yuan× 0.05 %×13 days (from April 23rd to May 5th).

This is the end of the introduction about whether the credit card revolving interest and the credit card revolving interest are reasonable. I wonder if you found the information you need from it?