how to calculate the credit card interest?

calculation method of credit card interest:

1. Credit cards will have an interest-free period, and if they are repaid before the repayment date, they will not generate interest. If they are repaid in installments on time, they will also charge a handling fee, but if they are overdue, they will have interest (and high interest).

2. The way for banks to charge overdue interest on credit cards is to calculate the total amount of the bill of the current month, which is called "full interest" instead of the amount of the outstanding part. Full interest, also known as full penalty interest, means that if you fail to repay in full by the latest repayment date, even if you are a penny short, you will calculate the full amount of the current bill at five ten thousandths of daily interest, and compound interest will be calculated on a monthly basis, which can also be called "rolling interest".

3. Except for ICBC, Agricultural Bank of China and Shanghai Pudong Development Bank, other banks use full interest, and ICBC is the first bank to cancel the full penalty interest on credit cards.

(1) Pufa

carries interest in installments, with five ten thousandths of interest, and the penalty is charged at 5% of the unpaid minimum repayment amount. If the minimum repayment amount is within 1 yuan, there is no penalty, and there is no upper limit.

(2) ICBC

pays interest on the outstanding part, and fails to repay the minimum repayment amount before the due repayment date (inclusive), which is deemed as overdue, and pays a penalty of 5% of the outstanding part of the minimum repayment amount.

(3) Agricultural Bank of China

carries interest in installments, with five ten thousandths of interest, liquidated damages and 5% of the unpaid part of the minimum repayment amount. Credit: As long as the minimum repayment amount is enough, it will not affect the credit rating.

how to calculate credit card interest

the calculation of credit card interest is divided into several situations, so you must pay attention to it. First, you can withdraw it directly from ATM, so there will be two kinds of fees, one is interest and the other is handling fee. At this time, both of them must be included in the calculation of the fee to be repaid, so you must pay attention to it. The general handling fee is between 1% and 3%, and the interest is not very low, generally 1,.

Secondly, the expenses incurred by the overdue credit card are very high. Generally, interest will be charged from the day when the credit card is swiped until it is fully paid off, which will always be 1, yuan. At this time, the interest is one day in 5 yuan, and the repayment is delayed by 1 days on the normal repayment date, so it is not cheap to add the interest on the days of delayed repayment under normal calculation.

There is also the interest on installment repayment, which is generally fixed, so it is generally the best calculation. This is just like the flower garden installment that people usually use. There will be a specific amount of interest every month according to the specific amount, but the installment interest rates of different banks are different, so everyone must pay attention. I hope my answer is helpful to you!

how to calculate the credit card interest?

credit card interest is generally calculated at five ten thousandths of a day.

1. Cash withdrawal by credit card:

1. Cash withdrawal by credit card overdraft:

A Handling fee: depending on the regulations of banks, for example, the handling fee for cash withdrawal by Ping An credit card is 2.5%, with a minimum 25 yuan per transaction; The credit card of CCB is charged at .5% of the cash withdrawal amount within China, with a minimum of RMB 2 yuan and a maximum of 1 yuan. The credit card of China Merchants Bank is charged at 1% of the cash withdrawal amount, with a minimum of RMB 1 yuan per transaction;

B interest: calculated at five ten thousandths of the daily interest.

2. Cash withdrawal of credit card overpayment: Some banks need to charge a handling fee, while others don't. For example, the handling fee of China Merchants Bank is .5% of the withdrawal amount, and the minimum charge is ￥5 yuan or $1.

2. Credit card spending at POS machine:

1. Repay in full on time, free of interest;

2. Pay the minimum repayment on time, and charge it at the rate of five ten thousandths of the daily interest;

3. overdue repayment, in addition to the above interest, there are also late fees.

how to calculate the interest on credit card consumption?

if the credit card consumption fails to be repaid upon maturity, a late fee (5% of the unpaid minimum repayment amount, with a minimum of RMB2 yuan or USD3 yuan) will be charged, and interest will be charged at the rate of .5 ‰ per day; If the repayment is made according to the minimum repayment amount, no late payment fee will be charged, and interest will be charged at the rate of five ten thousandths per day.

For example:

_ Mr. Li's billing date is 18th of each month, and the due repayment date is 7th of each month;

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

_ in this billing cycle, Mr. Li has only one consumption-April 15th, and the consumption amount is RMB 1 yuan;

_ The "payable amount in this period" of Mr. Li's current bill is RMB 1 yuan, and the "minimum repayment amount" is 1 yuan;

_ Under different repayment conditions, the circulating interest of Mr. Li is:

_ If Mr. Li repays 1 yuan in full before May 7, the circulating interest in the statement on May 7 is yuan, and the balance of the bill is yuan.

_ If Mr. Li only pays the minimum repayment amount of 1 yuan before May 7, the circulating interest of the statement on May 18 is 16.4 yuan, and the balance of the statement is 916.4 yuan.

The specific calculation is as follows:

1 yuan ×.5%×22 days (April 15th-May 7th)

(1 yuan -1 yuan) ×.5%×12 days (May 7th-May 18th)

Cycling interest =16.4 yuan

_

The specific calculation is as follows:

Late payment fee: 11%5%=5 yuan 2 yuan

Interest: 1 yuan ×.5%×34 days (April 15th-May 18th) =17 yuan

How to calculate the interest of the credit card?

The interest rules for credit cards are as follows:

1. When a bank withdraws or transfers cash by credit card, the interest from the billing date to the repayment date is calculated at the daily interest rate of .5%.

2. In addition to cash withdrawal and transfer, credit card consumption and other transactions enjoy an interest-free period of 25-56 days. As long as they can repay in full and on time, they don't need to pay interest. If they can't repay in full and on time, the bank will calculate the interest at the daily interest rate of .5%.

1. Interest generated by credit card

1. The credit card has expired. Credit cards have a billing date and a repayment date. Credit card repayment period is generally 2 days after the invoice date. Overdue repayment beyond the repayment date will generate interest and affect your credit. The penalty interest arising from overdue credit card is .5% of overdue amount. Credit card spending 1, yuan, one day overdue, resulting in a penalty interest of 5 yuan.

2. Cash withdrawal by credit card is one of the functions of credit card. If the cardholder needs short-term funds, he can withdraw cash by credit card. The higher the credit card limit, the higher the withdrawal amount, and the withdrawal amount does not exceed 5% of the credit card limit. Credit card withdrawal will generate interest and charge a certain handling fee. The fees charged by different banks are different, but the interest generated is 5/1 of the withdrawal amount and 1, yuan, and the interest generated every day is 5 yuan.

3. credit card installment. The longest credit card can be repaid in 24 installments. Installment payment will generate a handling fee, which is actually the interest charged. The longer the credit card is divided into stages, the more fees will be charged. Credit card installment fee is also one of the sources of bank credit card business income. The credit card installment fee of each bank is different.

the use of credit cards is simple. You can spend by credit card. Be sure to repay on time after consumption. Overdue, cash withdrawal and installment payment will generate interest or handling fee.

ii. legal basis:

measures for the administration of credit card business

article 3 the credit card mentioned in these measures refers to the credit payment instruments issued by the people's Republic of China and domestic commercial banks (including foreign-funded banks and Chinese-foreign joint venture banks, hereinafter referred to as commercial banks) to individuals and units.

Credit card has the functions of transfer settlement, cash deposit and withdrawal, consumer credit and so on.

article 4 credit cards are divided into corporate cards and personal cards according to the users; According to the credit rating, it is divided into gold card and ordinary card; Divided into RMB cards and cards by currency; According to the carrier material, it is divided into magnetic stripe card and smart card (hereinafter referred to as ic card).

Credit card interest is calculated according to interest base, daily interest rate and interest days. The daily interest rate of each bank is different and needs to be determined according to the bank credit card institution you operate.

This is the end of the introduction about how to calculate the interest of credit cards and how to calculate the interest of credit cards. Have you found the information you need?