The interest rates for China Merchants Bank’s credit cards are determined based on the benchmark interest rates set by the People’s Bank of China, as well as market conditions, cardholders’ credit status and other factors. The specific interest calculation formula is as follows:

Interest = overdraft amount Annual interest rate ÷365

The annual interest rate of China Merchants Bank Credit Card will be adjusted based on the customer's credit status and card level based on the base interest rate. Generally speaking, the annual interest rate of China Merchants Bank credit cards is around 18%. The specific value may vary depending on the cardholder's credit status and card level.

It should be noted that if the cardholder fails to repay on time, late payment fees and penalty interest will also be incurred. The late payment fee is generally 5% of the unpaid portion of the minimum repayment amount, with a minimum charge of RMB 10 yuan or USD 1 yuan. Penalty interest is calculated at 1.5 times the daily interest rate, and the number of days for interest calculation is from the transaction recording date to the repayment date.

Therefore, it is recommended that cardholders repay their loans on time to avoid unnecessary interest and fees. If possible, you can choose to repay in installments to reduce the pressure of repayment. At the same time, maintaining a good repayment record will help increase your credit limit and reduce interest charges.