Credit cards can not only be used for overdraft in advance, but also allow you to borrow some cash for use. If a cardholder uses an ICBC credit card to borrow 10,000 yuan, what is the approximate interest rate? Let’s take a look.

How much is the interest for a 10,000 ICBC credit card loan?

1. Credit card

Consumption enjoys an interest-free repayment period, and the payment is due on the due date (inclusive) If the payment has not been repaid in full, the amount that does not meet the interest-free conditions will accrue interest at a rate of 0.05 per day from the accounting date (the interest per day for the Peony Super Gold Card is 0.03), and compound interest will be calculated on a monthly basis until it is paid off. , if the minimum repayment amount is not repaid before the due payment date, liquidated damages will also be charged.

In addition, overdraft cash withdrawals and transfers do not enjoy the interest-free repayment period. In other words, if a cardholder borrows 10,000 yuan using a credit card, interest will be calculated at 0.05 per day, which is 5 yuan per day (the Peony Super Premium Gold Card will calculate interest at 0.03 per day, which is 3 yuan per day).

2. Quasi-credit card: does not enjoy the interest-free repayment period, and charges a simple interest of 0.05 yuan per day from the accounting date, that is, for a loan of 10,000 yuan, the daily interest is 5 yuan.

How to withdraw cash with an ICBC credit card?

Cardholders can use their credit cards to withdraw RMB at any ICBC outlet or self-service machine with the "UnionPay" logo in the country. For large-amount withdrawals at the counter ( 50,000 and above) must provide your valid ID. It is recommended to make an appointment with the outlet in advance by phone or other methods. If there is a foreign currency deposit in the credit card, you need to present the card and a valid ID to withdraw money from an outlet that offers foreign currency business.

In addition, this business must be handled by myself and cannot be handled by an agent. Moreover, credit card overdraft withdrawals do not enjoy the interest-free repayment period, and overdraft interest will be charged.