The interest calculation of Guangfa Bank credit card involves factors such as overdraft amount, number of installments, handling fees and other factors. If the overdraft is 1,200 yuan and is repaid in 12 installments, each repayment is 100 yuan, a monthly handling fee of 0.6 yuan will be paid, and the actual monthly payment will be 107.2 yuan. It seems that the nominal annual interest rate is 7.2, but as the repayment progresses, the actual interest rate is much higher than this. For example, the correct calculation formula shows that each period pays about 3.2 more handling fees, making the true annual interest rate close to 15.48.

For failure to repay in full, banks will usually charge full penalty interest, that is, the unpaid portion plus 0.05% daily interest from the date of consumption to the date of repayment. With China Guangfa Bank's "Xianxianxing" installment payment service, if you spend more than 500 yuan, you can apply for installment. The number of installments ranges from 6 months to 24 months, and the handling fee per installment ranges from 0.7 to 0.72. Although the handling fees for credit card installments are relatively low, they are still higher than bank loan interest rates. And although loan interest rates have been reduced in recent years, there have been relatively few adjustments to credit card handling fees and cash withdrawal interests.

In short, the interest calculation of China Guangfa Bank credit card needs to comprehensively consider the overdraft amount, installment period, handling fees and other factors. The actual cost may be higher than the superficial interest rate. It is recommended that users fully understand and plan the repayment plan when using it. to avoid unnecessary interest payments.