Only paying the minimum repayment amount on a credit card will not cause overdue payment, but the customer will no longer be able to enjoy the interest-free period, and the remaining unpaid balance will be included in the minimum repayment amount of the next bill, and the bill will be Generate recurring interest.

The main consequences of paying only the minimum repayment amount on a credit card are: customers can no longer enjoy the interest-free period, and recurring interest will accrue on the bill. First of all, all consumption recorded on the bill will be charged at a daily interest rate of 0.5% from the day it is entered into the account until the day before the repayment date. The remaining unpaid portion of the bill will also be charged at a daily rate of 0.000% from the repayment date. Interest will be accrued at a daily rate of five, which will be recorded until the customer repays it in full, and compound interest will be accrued on a monthly basis.

As a result, the customer will have to repay more money to the bank, and the remaining unpaid amount will be included in the minimum payment amount of the next bill, which needs to be paid on the due date of the next bill ( Paying off the loan in full before the date of payment will also increase the customer’s subsequent repayment pressure. If the customer fails to pay off all the remaining balance after the minimum payment of the current period's bill when repaying the next period's bill, it is equivalent to failing to pay the minimum payment of the next period's bill, which will also cause overdue payment. , thus leaving a bad record on the credit report, causing damage to the customer's personal credit.

It is recommended that if customers do not have enough repayment ability and cannot obtain sufficient funds to repay their credit card in the short term, in addition to the minimum repayment, they can also choose to repay in installments. After applying for installment, the installment part can be repaid in installments starting from the next month (the uninstalled part still needs to be repaid this month). Installment repayment will not accrue interest, but a certain installment fee will be charged.

Credit card limit, also known as credit card available limit, refers to the maximum amount that can be used by your credit card. It includes credit limit (that is, the maximum overdraft limit of a credit card) and the amount deposited into the credit card. .

The limit of any credit card depends on the effective income and asset security value provided by the individual during the application process. The credit limit of a credit card is positively correlated with the applicant's income and secured assets, that is, the higher the income and secured assets, the higher the credit limit obtained. Therefore, applicants must provide proof of income, provident fund social security, and asset guarantee statements. Asset guarantees include fixed assets such as real estate and cars, as well as current assets such as savings and bonds.