Considered overdue.

If the actual repayment amount is lower than the minimum repayment amount on the due payment date, late payment fees will be paid for the unpaid portion of the minimum repayment amount. The proportion of late payment fees is uniformly stipulated by the People's Bank of China, which is 5% of the unpaid portion of the minimum repayment amount. The minimum charge for RMB accounts is RMB 10, and the minimum charge for USD accounts is US$1 (except for designated card types).

Consequences of overdue payment

1. Liquidated damages, usually 5% of the unpaid portion of the minimum repayment amount.

2. The interest is high, and the interest is compounded. The interest rate is very scary when the debt is large.

3. Overdue credit records will be stained, resulting in the inability to handle financial needs such as house purchases and loans within the next two years.

4. If the payment is overdue for more than 3 months, and the amount exceeds RMB 10,000, and the bank has failed to pay multiple reminders, you will not only have to bear the repayment, but may also bear criminal liability.

Extended information:

For non-cash transactions (cash advance or transfer), Bank of Communications is interest-free for the period from the bank accounting date to the due repayment date. Repayment period. The interest-free repayment period is as short as 25 days and as long as 56 days.

During this period, as long as you pay off the current period's repayment amount (total amount owed) in full on the current period's statement, you will not have to pay any interest on the funds advanced to the store by the bank for non-cash transactions. (Cash advance loans do not enjoy interest-free discounts).

The minimum repayment amount means that if the cardholder has difficulty repaying all the amount payable before the due repayment date (inclusive), he can repay according to the minimum repayment amount stipulated by the card issuer, but he cannot Enjoy the interest-free repayment period, and the minimum repayment amount is 10% of the consumption amount plus other various payables. The minimum payment is listed on the current bill.

The minimum repayment amount is calculated as follows:

Minimum repayment amount = 10% consumption balance + 10% cash withdrawal balance + interest balance + balance of other payable fees + minimum repayment in the previous period The unpaid portion

Bank of Communications adopts the revolving credit interest calculation method. Revolving Credit: A revolving credit is a small, unsecured loan with daily interest. You can decide the repayment amount according to your own financial situation every month before the due date of the current credit card bill.

When the amount you repay is equal to or higher than the minimum payment amount of the current bill, but lower than the amount due in the current period, the remaining deferred payment amount is the revolving credit balance.

Revolving credit is a very convenient loan tool. It not only allows you to enjoy the convenience of swiping a card, but is also a good choice for you to easily manage your finances. If you choose to use revolving credit, you will not be able to enjoy the interest-free repayment period in the current period.

Revolving credit interest rate:

The revolving credit interest rate is uniformly stipulated by the People's Bank of China, with a daily interest rate of 0.05% and compound interest calculated on a monthly basis.

Interest calculation for revolving credit:

Each consumption amount in the previous statement is the interest-bearing principal, from the date the account is recorded until the account is paid off The end of the day is the number of days for interest accrual, and the daily interest rate is 0.05%. Interest on the revolving credit will be shown on your next bill.

Baidu Encyclopedia - Credit Card

Baidu Encyclopedia - Bank of Communications Credit Card