I'd like to ask Bank of Communications what is the credit card interest

In general, credit card consumption does not need to pay interest, and there will be no formalities fee when the credit card is directly swiped. Credit cards have an interest-free period, and there is no need to pay any handling fee or interest for repayment during the interest-free period. However, in case of overdue repayment or installment repayment, interest will be paid, which is the credit card interest fee.

For the Bank of Communications Credit Card, if all the bill amount is paid off on the final repayment date, you don't need to pay any interest and late fees, and you can enjoy the interest-free period given by the bank; If the bill of the current month is not paid off in full, and there is no interest-free period, all consumption should be calculated from the day you spend/with interest of five ten thousandths per day, with interest calculated daily and compound interest monthly.

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How is the Bank of Communications credit card interest calculated?

1. For non-cash transactions (cash advance or transfer), the date from the bank bookkeeping date to the due repayment date is the interest-free repayment period. The shortest interest-free repayment period is 25 days and the longest is 56 days. During this period, as long as the current payable amount (total amount owed) on the current statement is paid off in full, there is no need to pay the interest on any non-cash transaction (interest-free discount is not available for cash advance).

2. The minimum repayment amount means that if the cardholder has difficulty in repaying all the payables before the due repayment date (inclusive), he can make repayment according to the minimum repayment amount stipulated by the issuing bank, but he cannot enjoy the interest-free repayment period. The minimum repayment amount is 1% of the consumption amount plus other payables. The minimum repayment amount is listed on the current bill.

the formula for calculating the minimum repayment amount is as follows: minimum repayment amount =1% consumption balance +1% cash withdrawal balance+interest balance+other payable expenses balance+unpaid portion of the minimum repayment amount in the previous period.

how to calculate the credit card interest of Bank of Communications

For non-cash transactions of Bank of Communications, the date from the bank bookkeeping date to the due repayment date is the interest-free repayment period. The shortest interest-free repayment period is 25 days and the longest is 56 days. During this period, you don't have to pay the interest on any non-cash transactions that are prepaid to the store by the bank as long as you pay off the current payable amount on the current statement in full.

Bank of Communications credit card repayment interest

The minimum repayment amount means that if the cardholder has difficulty in repaying all the payables before the due repayment date (inclusive), he can make repayment according to the minimum repayment amount stipulated by the issuing bank, but he cannot enjoy the interest-free repayment period. The minimum repayment amount is 1% of the consumption amount plus other payables. The minimum repayment amount is listed on the current bill.

the formula for calculating the minimum repayment amount is as follows:

the minimum repayment amount =1% consumption balance +1% cash withdrawal balance+interest balance+other payable expenses balance+unpaid part of the minimum repayment amount in the previous period

Bank of Communications adopts the revolving credit interest calculation method. Revolving credit: Revolving credit is a small, unsecured loan with daily interest. According to your own financial situation, you can decide the repayment amount by yourself every month before the due date of the current credit card bill. When the repayment amount is equal to or higher than the minimum repayment amount of the current bill, but lower than the repayment amount of the current period, the remaining deferred repayment amount is the revolving credit balance. Revolving credit is a very convenient loan tool, which not only allows you to enjoy the convenience of swiping your card, but also is a good choice for you to manage your finances easily. If you choose to use revolving credit, you can't enjoy the interest-free repayment period in the current period.

revolving credit interest rate:

The revolving credit interest rate is uniformly stipulated by the People's Bank of China, with a daily interest rate of .5 ‰ and compound interest on a monthly basis.

interest calculation of revolving credit:

each consumption amount in the last statement is the interest-bearing principal, and the interest-bearing days are from the bookkeeping date to the repayment date of the account, and the daily interest rate is five ten thousandths. The interest of revolving credit will be listed in the next bill.

how to calculate the interest of Bank of Communications' credit card

The interest of Bank of Communications' credit card is calculated according to the following standards

1. If it is consumption, it will be repaid normally before the interest-free period, and no interest will be charged. The repayment date of Bank of Communications is 25 days after the bill date. You can call the Bank of Communications Credit Card Center and write the number on the back of the credit card.

2. If you spend money by credit card, you can pay it back before 25th without interest. If you can't pay it back, you have to pay five ten thousandths of the daily interest from the day of credit card swiping, which is 5 cents per day in 1 yuan.

3. For example, if 5 is paid back on the 2th, it will not be paid back later, so the interest before the 25th will be 5 cents, and after the 5th, it will be five millionths, that is, 2 cents;

4. There is no interest-free period for cash withdrawal. Interest will be calculated on the same day. In addition to interest, there will be a handling fee for cash withdrawal (1% of the cash withdrawal amount, 1 yuan, except for the youth card, which is 5 yuan/pen, with no limit), and 1 yuan will have an interest of 5 cents per day. This is the same as swiping a card until it is repaid.

the interest of the Bank of Communications credit card = .5% of the amount owed and the number of days owed. Generally, interest will only be generated under the circumstances of overdue repayment, overdraft cash withdrawal and minimum repayment, but it will not be generated under normal use.

The installment fee of Bank of Communications' credit card is calculated on a monthly basis. Bank of Communications credit card holders can apply for installment after billing, and the application for installment will generate corresponding handling fees according to the number of installments, and the handling fees will be different according to the amount of installment and the interest rate for different installments. However, the credit card installment fee of Bank of Communications is quite special, no matter how many installments, it is fixed at .72%. Suppose you spend 5, yuan in 24 installments, and the monthly repayment is calculated as follows:

p>1.72%=72 yuan, the monthly handling fee is 36 yuan

1,/24 = 2,83 yuan, and the monthly principal is 416.67 yuan

416.67+72 = 2,443 yuan. The monthly repayment is 488.67 yuan

Bank of Communications Credit Card is a credit brand product jointly launched by Bank of Communications and HSBC. Its user orientation is "a group of people who have ideals and pursuits in life and career, know how to enjoy themselves, are more willing to struggle, and sometimes have the need to study, do business, investigate or travel abroad.

Let's stop here for the introduction of interest calculation by Bank of Communications' credit card.