As long as Industrial Bank pays the minimum repayment amount of the current bill within the specified repayment period, it will not generate interest, but it will not enjoy the interest-free period afterwards, and there will be revolving interest. Of course, if the minimum repayment amount is overdue, not only overdue interest will be paid when repayment is made, but also cyclic interest will be generated afterwards.
As for how to calculate the revolving interest, it mainly depends on factors such as bill amount, unpaid amount and repayment days. From the date when the consumption is recorded, the daily interest will be five ten thousandths until the account is paid off, and the interest will be listed in the next bill.
For example, the Industrial Credit Card held by a woman has a billing date of 18 per month and a repayment date of 7 per month. During this billing cycle, the lady only made one consumption (March 15, the consumption amount was 1000 yuan), the payable amount of this bill was 1000 yuan, and the minimum repayment amount was 50 yuan. If the lady only paid the minimum repayment amount before April 7th, the circulating interest listed in the statement up to April18th is:
1000× 0.05 %× 23 (from March to April 6 of 15) (1000-50 )× 0.05 %×12 (4? June 7th to April 18) = 17.2 yuan.
Extended data:
Credit card, also called debit card, is a credit certificate issued by a commercial bank or credit card company to eligible consumers.
It is a card with name, expiration date, number and cardholder's name printed on the front, and a magnetic stripe and signature strip on the back.
Consumers with credit cards can go to specialized commercial service departments for shopping or spending, and then the bank will settle accounts with merchants and cardholders, and cardholders can overdraw within the prescribed limits.
The credit card stipulated by relevant laws in China refers to the electronic payment card issued by commercial banks or other financial institutions with all or part of the functions of consumer payment, credit loan, transfer settlement, cash deposit and withdrawal, etc.
20 17 12 1, the English translation and writing standards for public services were formally implemented, and the English names of credit cards were specified.
Credit card consumption is a non-cash transaction payment method, which does not need to pay cash when spending, and repays on the bill date.
Credit cards are divided into credit cards and quasi-credit cards. Credit card refers to a credit card in which the cardholder has a certain credit limit and can spend first and then repay. Quasi-credit card refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund according to the regulations, and when the balance of the reserve fund account is insufficient to pay, it can be overdrawn within the prescribed credit limit.
Credit cards generally refer to credit cards.
From the date of 202 1 1 1, the credit card overdraft interest rate is determined by the card issuer and the cardholder through independent negotiation, and the upper and lower limit management of the credit card overdraft interest rate is cancelled (the original upper limit is 0.7 times of the daily interest rate, and the lower limit is 0.7 times of the daily interest rate).
The main features of credit cards:
① Credit card is one of the fastest-growing financial services, and it can replace the traditional cash circulation in a certain range;
② Credit cards have both payment and credit functions. Cardholders can use it to buy goods or enjoy services, and they can also use credit cards to obtain certain loans from card issuers;
Credit card is a high-tech product integrating financial business and computer technology.
Credit card can reduce the use of cash and currency;
⑤ Credit card can provide settlement service, which is convenient for shopping and consumption and enhances the sense of security;
⑥ Credit card can simplify the collection procedures and save social labor;
⑦ Credit cards can promote commodity sales and social demand.
How to calculate the credit card interest of Industrial Bank?
Industrial Bank's credit card charges 0.5 ‰ daily interest, with compound interest on a monthly basis. (Industrial Bank credit card interest-free period does not calculate interest)
Industrial Bank has always used the calculation method of revolving credit interest. Revolving credit: Revolving credit is a small unsecured loan with daily interest. According to your own financial situation, decide how much to pay back each month before the current credit card bill expires. If your repayment is equal to or higher than the minimum repayment amount of the current bill, but lower than the current repayment amount, the remaining deferred repayment amount is the revolving credit balance.
Calculation method of interest: every consumption amount in the last statement is regarded as interest-bearing principal, and the interest-bearing days are from the account bookkeeping date to the account repayment date, and the daily interest rate is five ten thousandths. The interest of revolving credit will be listed in the next statement.
Extended data:
Industrial Bank credit card interest principle:
1. After credit card consumption, there is no full repayment before the due repayment date, so the credit card installment payment function is not used.
2. Use the cash advance function of the credit card.
3. The money deposited in Industrial Bank's credit card does not calculate interest.