The daily interest is 0.05% and the recurring interest is superimposed every day.

China Merchants Bank Credit Card charges an interest rate of 0.5% per day for cash withdrawals and amounts repaid beyond the specified time, in a continuous cycle. I repaid 2,400 on the 16th, but there is still 1,558.7 left to be repaid. This will not only affect my personal credit score due to overdue payment, but also charge interest.

For example, the first day is 1558.7*0.0005=0.77935, the second day is 1559.47935*0.0005=0.779739675, and the cycle continues until all is returned.

If only 2,700 is repaid this month, the overdue principal will become 1,582.41. In addition, with the withdrawal of 1,000, the total is 2,582.41 yuan. It is recommended that it is better to pay in installments. Every time you are overdue, your credit report will be filed.

Extended information:

The development of credit cards of China Merchants Bank was relatively early. In 2002, China Merchants Bank realized the integration and professional services of credit cards and was a pioneer in China's credit card market. In December of this year, the first dual-currency card that complied with international standards was released. China Merchants Bank Credit Card Center adopts a nationwide centralized operation plan and is the first system in China to operate in accordance with international standards.

China Merchants Bank's 24-hour customer call center, 365 days a year, was named "China's Best Call Center of the Year" at the 2004 China Call Center Operation and Customer Relationship Management Conference.

Baidu Encyclopedia - China Merchants Bank Credit Card