How to calculate the credit card swiping fee

Credit card swiping fee = the card swiping amount handling fee rate. Different industries have different rates. The rate standard ranges from 0.5% to 4%. No wait.

The first category of merchants includes catering, hotels, entertainment, jewelry and gold ornaments, and arts and crafts. The general discount rate is 2%-2.5%.

The second category of merchants includes real estate, car sales, and wholesale. The general discount rate is 1%, and you can apply for a single transaction cap.

The general discount rate for third-category merchants including gas stations and supermarkets is 0.5%-1%.

General discount rates for the fourth category of merchants, including public hospitals and public schools, vary depending on the region.

The fifth category of merchants includes general discount rates of 1%-3%.

It should be noted that the credit card swiping fee is charged by the bank to the card swiping merchant, and the cardholder does not need to pay it.

Extended information:

1. Credit card cash withdrawals do not enjoy the interest-free period. Interest will be calculated at a daily interest rate of 5/10,000 from the date of cash withdrawal until it is paid off. Taking repayment after 20 days as an example, the interest to be borne by withdrawing 10,000 yuan in cash is: 100,000.05%20=100 yuan, which is an interest of 5 yuan per day, totaling 100 yuan for 20 days.

In addition, there are handling fees for credit card cash withdrawals. Each bank has different handling fee standards, which are generally around 1%-3%. Taking the Bank of Communications as an example, the handling fee for credit card cash withdrawals is 1%, and the handling fee for withdrawing 10,000 yuan is 100 yuan. The total *** adds up to a fee of 200 yuan. Everbright and Ping An have relatively high cash withdrawal fees, both of which are 2.5%. Then, the handling fee for withdrawing 10,000 yuan is 250 yuan, and the total fee is 350 yuan.

Cardholders are advised not to use credit cards to withdraw cash without special needs. Even if you need to withdraw cash, you should choose some special cards with cheaper cash withdrawal fees. For example, Bank of Communications' Y-POWER credit card has a handling fee of RMB 5 for domestic RMB cash withdrawals. However, you must repay as soon as possible after withdrawing cash.

Credit card rates

Credit card rates mainly include the following aspects:

1. ATM cash withdrawal rates: 1%-3% of cash withdrawals % charge.

2. Cash withdrawal day interest rate: All banks charge a unified standard. Starting from the day of cash withdrawal, the cash withdrawal interest is charged at 0.05% per day.

3. Overdue rate: Overdue interest will be charged for overdue credit cards. The overdue rate is 0.05%/day, which is charged according to the amount of consumption.

4. Installment rates: The installment rates of each bank are different. Taking Industrial and Commercial Bank of China as an example, the 3rd installment rate is 1.65%, the 6th installment rate is 3.6%, the 9th installment rate is 5.4%, The rate for 12 periods is 7.2%, the rate for 18 periods is 11.7%, and the fee for 24 periods is 15.6%.

(1) According to different card issuers, they can be divided into bank cards and non-bank cards

(1) Bank cards. This is a credit card issued by a bank. Cardholders can shop at the card-issuing bank's special merchants, and can also withdraw cash at any time at any branch of the card-issuing bank or at places with ATMs.

(2) Non-bank card. Such cards can be specifically divided into retail credit cards and travel and entertainment cards. Retail credit cards are credit cards issued by commercial institutions, such as department stores, petroleum companies, etc., which are specially used for shopping in designated stores or refueling at gasoline stations, etc., and are settled regularly. Travel and entertainment cards are credit cards issued by the service industry, such as airlines, travel companies, etc., and are used for purchasing tickets, meals, accommodation, entertainment, etc.

(2) According to the different objects of card issuance, it can be divided into corporate cards and personal cards

(1) Corporate cards. Company cards are issued to various industrial and commercial enterprises, scientific research and education institutions, national party and government agencies, military units, groups and other legal organizations.

(2) Personal card. Personal cards are issued to urban and rural residents, including workers, cadres, teachers, scientific and technological workers, self-employed households and other adult urban and rural residents with stable sources of income. A personal card is applied for in the name of an individual and he/she bears all responsibilities for using the card.

(3) According to the credit status, status and other credit conditions of the cardholder, it can be divided into ordinary cards and gold cards.

(1) Ordinary cards. Ordinary cards are issued to cardholders with average financial strength, credibility and status, and their various requirements are not high.

(2)Gold card.

A gold card is a high-end credit card that pays high membership fees and enjoys special benefits. Cards are issued to those with higher credit standing, stronger repayment ability and credit, or those with a certain social status. The authorization limit of the gold card starts from a higher level, and the additional service items and scope are much wider, so the requirements for relevant service fees and security deposits are also relatively high.

(4) According to different repayment methods, credit cards can be divided into credit cards and debit cards

(1) Credit cards. It is a card-issuing bank that provides bank credit. When making a payment, it is first used as an overdraft, and then repaid or paid in installments. Most of these cards are used internationally. That is to say, the way that cardholders are allowed to pay off their credit card accounts without deposits is "spend first, deposit later". Most of the cards currently used internationally are of this type.

Credit card (2) Debit card. It is a credit card issued by a bank that allows you to deposit money first and spend later. When applying for a credit card, cardholders need to deposit a certain amount of money in the card-issuing bank for backup. Cardholders need to use the deposit balance as a basis when using the card. Overdrafts are generally not allowed.

How is the credit card installment fee calculated?

The credit card fee is calculated as follows: transaction amount × installment fee × number of installments.

The handling rates for different periods are also different and should be based on the standards of each bank. For example, if you spend 6,000 yuan in 3 installments, and the handling fee for the 3 installments is 1.95%, then the installment handling fee for each installment is 39 yuan, and the monthly repayment amount is 2,117 yuan. Divided into 6 installments, the handling fee for the 6 installments is 3.6%, so the installment handling fee for each installment is 36 yuan.

I believe that many people will receive enthusiastic text messages or even phone calls from banks after using their credit cards to remind users that they can use the installment repayment service. The reason given by the bank is that installment has many benefits, such as extending the repayment period of the credit card, reducing short-term financial pressure, avoiding overdue credit cards, etc.

But in fact, the bank cannot afford to pay early if it is not profitable. It is obviously not well-intentioned to so enthusiastically suggest that users choose to repay in installments. So what are the benefits of credit card installment repayment for banks? In fact, it is very simple. Users' installment repayment can bring revenue to the bank, but if the user repays in full before the final repayment date, the bank will not make any money from the user. dime.

Interest refers to the remuneration that currency holders (creditors) receive from borrowers (debtors) for lending currency or monetary capital. Including interest on deposits, loans and various bonds. Under capitalism, the source of interest is the surplus value created by wage workers. The essence of interest is a special transformation form of surplus value and is a part of profit.

Definition:

1. Money other than principal received from deposits and loans (different from ‘principal’).

2. Interest (interest), in abstract terms, refers to the value-added amount brought about when monetary funds are injected into and returned to the real economic sector. To put it less abstractly, interest generally refers to the remuneration paid by the borrower (debtor) to the lender (creditor) for the use of borrowed currency or capital. Also called sub-gold, the symmetry of the parent fund (principal). The formula for calculating interest is: Interest = Principal × Interest Rate × Deposit Term (that is, time).

Interest is the remuneration received by the owner of the funds for lending the funds. It comes from a part of the profits generated by the producers using the funds to perform operational functions. It refers to the value-added amount brought about when monetary funds are injected into and returned to the real economic sector. The calculation formula is: interest = principal × interest rate × deposit period x 100%

3. Classification of bank interest< /p>

According to the different nature of banking business, it can be divided into two types: bank interest receivable and bank interest payable.

How to calculate credit card processing fees

The rates charged by credit cards are different. Credit card processing fees are usually borne by the merchant, but sometimes the credit card amount is relatively large. The handling fee will be deducted from the consumer's credit card amount. The remaining amount is the actual amount reached by the merchant, and some businesses are unwilling to let consumers swipe their credit cards. Because if the user wants to swipe a credit card, they need to bear the handling fee.

1. Swiping your card directly on the POS machine is charged at a standard rate of 0.6%. The rate of third-party POS machines will be higher, and a single service fee will also be charged, no matter how much the rate is. They are all executed according to one rate standard;

2. QuickPass card swiping has the function of double exemption for small amounts. By default, transactions not exceeding 1,000 yuan are executed at a preferential rate of 0.38%, and transactions exceeding the standard of 0.6% are executed Rate charges.

If the cardholder uses a credit card to directly spend 10,000 yuan, the cardholder does not need to pay the handling fee. As long as the user repays the money on time within the specified repayment period, he can enjoy the repayment. During the interest-free period, cardholders do not need to pay any interest or handling fees. If the cardholder cannot repay the loan in full within the stipulated time, in order to avoid installment, the user can choose to apply for installment or repay the minimum repayment amount. Installment repayment requires a handling fee, which varies for different periods. If the user chooses to repay the minimum payment, he or she will need to pay interest. The interest is charged at a daily interest rate of 0.05%. At the same time, the minimum payment interest on the credit card will be compounded monthly until the cardholder pays off the balance in full. Until payment is made.

Minimum repayment amount of credit card = consumption amount within the credit limit × 10% cash advance transaction amount × 100% unpaid portion of the minimum prepayment amount × 100% consumption amount exceeding the credit limit × 100% all expenses and interest × 100%. If the cardholder uses a credit card to withdraw cash, the handling fee will be charged according to a certain proportion of the cash withdrawal amount. Different banks have different cash withdrawal handling fees. For example, China Everbright Bank, Agricultural Bank of China, and Bank of Communications charge a 2.5% cash withdrawal handling fee. Usually the cash withdrawal handling fee is 1%-3% of the cash withdrawal amount, that is to say, the handling fee for withdrawing 10,000 yuan is about 100 yuan-300 yuan. In addition to handling fees, cash withdrawals also require an interest of 0.5% per day.

How to calculate the credit card fee rate of 0.6?

Credit card swiping fee = card swiping rate According to regulations, credit card swiping fees are borne by merchants using POS machines. If cardholders encounter a situation where merchants require cardholders to pay handling fees, they can complain to the bank.

Credit cards, also called credit cards, are credit certificates issued by commercial banks or credit card companies to consumers with qualified credit. It takes the form of a card with the name of the issuing bank, validity period, number, cardholder name and other contents printed on the front, and a magnetic stripe and signature strip on the back. Consumers holding credit cards can shop or consume at specially appointed commercial service departments, and then the bank will make settlements with merchants and cardholders. Cardholders can overdraft within the prescribed limit.

In most cases, citizens who have full capacity for civil conduct (citizens over 18 years old in mainland China) and have certain direct financial resources can apply for a credit card from the card issuing bank. Sometimes, legal persons can also be applicants.

Applicants for credit cards can be divided into units and individuals. Applicants should be institutions, enterprises and business units, foreign-funded enterprises and individual industrial and commercial households with independent legal person status in my country. Each unit applying for a credit card can receive a main card and multiple (5-10) supplementary cards as needed. To apply for a credit card, an individual must have a fixed occupation and a stable source of income, and provide a guarantee to the bank. The forms of guarantee include personal guarantee, unit guarantee and personal capital guarantee.

The application method is generally by filling in a credit card application form. The content of the application form generally includes the name of the applicant, basic information, economic status or source of income, guarantor and his/her basic information, etc. And submit certain copies of documents and certificates to the card issuing bank. After the customer fills in the application form truthfully according to the content, the customer must also submit the relevant credit certificate while submitting the completed application form. The application form is accompanied by a credit card use contract. The applicant authorizes the card-issuing bank or relevant departments to investigate its relevant information, and submits a statement of the authenticity of the information, the card-issuing bank's privacy protection policy, etc., and must have the applicant's signature.

That’s it for the introduction of how to calculate credit card rates.