Normally, if a credit card is overdue, it will charge 0.05% of the overdue amount every day. That is, the daily interest rate is 0.05%, compounded monthly. If users do not repay for a long time, interest will accrue.

In addition to charging overdue interest, credit cards will also charge a certain late fee, which is generally 5% of the overdue amount. That is, if a user is overdue for 10 days after spending 10,000 yuan on a credit card, the overdue interest will be 10,000×0.05%. ×7=35 yuan. The late payment fee is 10,000 yuan * 5% = 500 yuan. Because the total amount of repayment is principal + overdue interest + late payment fees, that is, 10,000 + 35 + 500 = 10,535 yuan. Therefore, the interest after overdue is still relatively high.

Article 5 of the "Bank Card Business Management Measures" Bank cards include credit cards and debit cards.

Bank cards are divided into RMB cards and foreign currency cards according to different currencies; they are divided into corporate cards (commercial cards) and personal cards according to the issuing objects; they are divided into magnetic stripe cards and chip (IC) cards according to different information carriers. )Card.

Article 22 The card-issuing bank shall treat the credit card holder’s use of the card without repaying the minimum repayment amount and exceeding the credit limit, respectively. A late payment fee and over-limit fee of 5% will be charged.

Article 23 Compound interest will be accrued on a credit card overdraft on a monthly basis, and simple interest will be accrued on a quasi-credit card overdraft on a monthly basis. The overdraft interest rate is 5/10,000 of the daily interest rate, and shall be calculated in accordance with the regulations of the People's Bank of China. This interest rate adjustment is adjusted.