Credit card overdraft interest refers to the interest generated when the credit limit in the credit card is used up and you are still making purchases.

Credit card overdraft interest is generally calculated at a daily interest rate of 5/10,000 within 15 days from the date of signature or bank accounting (including the current day), and a daily interest of 10/10,000 for more than 15 days. , exceeds 30 days or the overdraft amount exceeds the prescribed limit, the daily interest rate will be calculated at 15%.

Overdraft interest is not calculated in stages, but is calculated based on the highest interest rate bracket of the final term or the maximum overdraft amount. In addition, let me tell you about the issue of overdraft cash withdrawal: Overdraft cash withdrawal is a small cash loan provided by the bank to help you flexibly deploy funds when you are in urgent need. In layman's terms, it is a form of borrowing in which you take the credit card given to you by the bank and withdraw cash through the bank counter or ATM machine.

If you are spending money in a shopping mall, swiping your credit card directly is called overdraft consumption (there is an interest-free period). The overdraft cash withdrawal limit is set according to your card usage. Different banks have different cash withdrawal standards. The lowest one is no more than 30% of the credit limit, and the highest one can withdraw 100% of the credit limit.

In addition to cash withdrawal fees (cash withdrawal fees vary among banks), overdraft withdrawals at home and abroad must also pay interest and do not enjoy interest-free treatment. Overdrafts can be borrowed and repaid at any time, and interest is calculated on a daily basis, with a daily interest rate of 5/10,000. No interest will be calculated if there is no overdraft, and no interest will be calculated if the overdraft is repaid on the same day. Interest will be calculated for the number of days of overdraft.

If the cardholder repays overdue, interest will be calculated at 0.05% per day starting from the next day of consumption. Overdue interest will be compounded. Therefore, the longer the overdue period, the higher the daily interest will be.

Credit cards, also called credit cards, are credit certificates issued by commercial banks or credit card companies to consumers with qualified credit. It takes the form of a card with the issuing bank's name, validity period, number, cardholder's name and other contents printed on the front, and a magnetic stripe and signature strip on the back. Consumers holding credit cards can shop or consume at specially designated commercial service departments, and then the bank will settle the accounts with merchants and cardholders. Cardholders can overdraft within the prescribed limit.

Credit cards stipulated in the relevant laws of our country ("Interpretations of the Standing Committee of the National People's Congress on Relevant Credit Card Regulations") refer to credit cards issued by commercial banks or other financial institutions with the functions of consumption payment, credit loans, transfer settlement , deposit and withdraw cash, etc., an electronic payment card with all or part of the functions? On December 1, 2017, the "English Translation and Writing Standards in the Public Service Field" was officially implemented, stipulating that the standard English name of credit cards is Credit Card.

Credit card consumption is a non-cash transaction payment method. There is no need to pay cash when consumption, and repayment will be made on the billing date.

Credit cards are divided into credit cards and quasi-credit cards. Credit cards refer to credit cards in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; quasi-credit card It refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund as required. When the reserve account balance is insufficient to pay, the cardholder can overdraw within the prescribed credit limit.

The credit card generally refers to a credit card.

Starting from January 1, 2021, the credit card overdraft interest rate will be determined independently by the card issuer and the cardholder through independent negotiation, and the upper and lower limit management of credit card overdraft interest rates will be cancelled. The daily interest rate is 0.7 times 5/10,000).

On May 25, 2021, the Supreme People's Court issued and implemented the "Regulations of the Supreme People's Court on Several Issues in the Trial of Bank Card Civil Disputes".