Now users need to charge a certain amount of interest whether they use the minimum repayment amount of micro-loans or the minimum repayment amount of credit cards. So which is more cost-effective to use microfinance or credit card minimum repayment? This is also a question that many users are interested in. Let's have a look.

Assuming that the minimum repayment interest rate of micro-loans and credit cards is 0.5% per day, and they borrow RMB 65,438+0,000 respectively, the interest generated in one billing cycle is as follows:

1. Micro-loan: Micro-loan loan 10000 yuan, with a daily interest rate of 0.05% and a daily 5 yuan. If the billing period is 30 days, the interest in the first month is 150 yuan. After that, the interest will be calculated monthly according to the unpaid principal * the daily interest rate of the loan *30 days. As the principal decreases with repayment, the interest will also decrease.

2. Minimum repayment amount of credit card: the billing date of the cardholder's credit card is 7th of each month, and the repayment date is 28th. For example, 1 1/spent 1000 yuan on10, and1000 yuan only paid the minimum amount after the bill was issued on October 7.

10000 yuan ×0.05%×3 1 day (165438+17 October ~ 65438+7 February) +9000 yuan ×0.05%×24 days (/kloc