What are the interest rates and late fees for overdue credit cards?

If the credit card consumption is not repaid when it is due, a late payment fee (5% of the minimum repayment amount, minimum RMB20 yuan or USD3 yuan) will be charged, and interest will be charged at a rate of 0.05% per day; if If you repay the minimum repayment amount, no late payment fees will be charged, and interest will be charged at 0.5% per day.

Example:

_Mr. Li’s bill date is the 18th of each month, and the repayment due date is the 7th of each month;

_April 18 The current bill printed by the Japanese bank for Mr. Li includes all his transaction accounts from March 19 to April 18;

_Mr. Li only made one purchase in this billing cycle—— On April 15, the consumption amount was RMB 1,000;

_The "repayable amount for this period" of Mr. Li's current bill was RMB 1,000, and the "minimum repayment amount" was RMB 100;

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_Under different repayment situations, Mr. Li’s revolving interest is:

_If Mr. Li repays 1,000 yuan in full before May 7, then on May 7 The recurring interest in the daily statement is 0 yuan, and the bill balance is 0 yuan.

_If Mr. Li only repays the minimum repayment amount of 100 yuan before May 7, the recurring interest on the statement on May 18 = 16.40 yuan, and the bill balance will be 916.4 yuan.

The specific calculation is as follows:

1,000 yuan × 0.05 × 22 days (April 15-May 7)

(1,000 yuan-100 yuan) ×0.05×12 days (May 7-May 18)

Cyclic interest = 16.40 yuan

_If Mr. Li fails to repay any amount, then the The late payment fee and recurring interest on the statement = 37 yuan, and the bill balance is 1,037 yuan.

The specific calculation is as follows:

Late fee: 1000105=5 yuan 20 yuan

Interest: 1000 yuan × 0.05 × 34 days (April 15-May 18th) = 17 yuan

How to calculate late payment fees for overdue credit cards

1. The late payment fees for overdue credit cards are: 5% of the minimum repayment amount that cannot be paid off. 2. Credit card overdue interest calculation formula: Credit card overdue interest = number of days overdue for last month’s consumption 0.0005. There are three numbers in the above credit card overdue interest calculation formula, namely the overdue amount, the number of overdue days and the daily interest rate. The meanings of these three numbers are introduced below. 1. One thing you need to pay special attention to is the amount of consumption last month. The amount calculated for overdue credit cards is not the amount owed, but the amount of consumption last month. That is, if you spent 10,000 yuan last month, even if you have repaid 9,999 yuan, then if you owe 1 yuan, the overdue interest on your credit card will be calculated as if you owe 10,000 yuan. Therefore, try not to have an overdue credit card, otherwise, if the consumption amount last month was large, the basis for calculating interest will be too large. 2. Number of days overdue Because credit card overdue interest is calculated on a daily basis, the number of days overdue on a credit card is also important. The number of overdue days refers to the number of days from the billing date to the current billing date. 3. Daily interest rate The daily interest rate for overdue interest on credit cards is uniformly stipulated to be 50,000 per day, which is 0.0005.

If the credit card is overdue for one month, how much is 10,000 yuan, interest, late payment fees, etc.?

As of December 2019, the late payment fee is calculated as 5% of the unpaid portion of the minimum repayment amount, with interest of 0.5% per day.

One *** needs to be repaid = 10000100005100000.000530 = 10650 yuan.

The bank credit card banking center will charge late payment fees and interest:

1. The late payment fee is calculated based on 5% of the unpaid portion of the minimum repayment amount, and the minimum charge is RMB 10 yuan or 1 US dollar. .

2. At the same time, the bank will also charge an interest of 0.05% per day on the entire bill.

Extended information:

1. Impact on credit:

1. Overdue within one month is considered overdue once. As long as it is overdue, even once, you want to increase the credit limit. It is more difficult;

2. If you are overdue for 3 times in a row or 6 times in total, you will have a bad credit record, and it will be difficult to get a loan or apply for a credit card in the future;

3. If you are overdue for more than a certain amount Depending on the amount and time, the bank will freeze the credit card.

2. Credit card overdue regulations:

The "China Bank Card Industry Self-Discipline Convention" stipulates that if the repayment is delayed for up to 3 days and the repayment difference is within 10 yuan, no penalty interest will be charged. . The "Convention" stipulates that banks provide cardholders with long-term services, send repayment reminders through text messages, emails, etc. at least 3 days before the due date of repayment, and provide at least a 3-day repayment period.

In other words, if the cardholder repays the money within 3 days after the specified repayment date, the bank should treat it as full repayment in the same period without penalty interest. Note: 3 days refers to natural days, not working days.

The bank also provides tolerance services to cardholders, that is, if the cardholder has insufficient repayment in the current period, and the outstanding amount is less than or equal to a certain amount (at least the equivalent of RMB 10), he should The cardholder will be deemed to have repaid the amount in full.