The so-called revolving interest of China Merchants Bank refers to the interest generated by China Merchants Bank’s credit cards.

According to the inquiry on Tanqi Finance Network, the so-called revolving interest of China Merchants Bank refers to the interest generated by China Merchants Bank’s credit cards. Under normal circumstances, recurring interest will only accrue when the credit card holder cannot repay the credit card bill in full. For example, if a cardholder applies for a minimum repayment on a credit card bill, the remaining unpaid balance after the minimum repayment will be charged with interest at a daily rate of 0.05% from the date of consumption, and compound interest will be accrued on a monthly basis. If you withdraw cash, the recurring interest will be calculated from the day of withdrawal.

China Merchants Bank generally refers to China Merchants Bank. China Merchants Bank was established in Shekou, Shenzhen in 1987. It is the first joint-stock commercial bank in China that is entirely owned by corporate legal persons. It is also the first pilot bank for the country to promote banking industry reform from outside the system.