How long does it usually take to repay a credit card?

The credit card repayment period is generally 20 or 25 days after the statement date. However, this repayment date is the final repayment date. Even if the consumption amount is not recorded, users can choose to repay in advance. Therefore, the repayment period of a credit card is more about informing the user of the final repayment time, and the user must complete the final repayment on the repayment date.

Extended information:

The repayment time of a credit card can be divided into the following two periods:

Normal repayment time

From the credit card The normal repayment time for credit cards is from the statement date to the final payment date. Repayments made during this period are normal repayments.

It is recommended to repay the loan two to three days before the repayment date. If the repayment time is too early, the interest-free period provided by the bank will be used up too little, which is not cost-effective;

If the repayment time is too late, especially on the repayment date, it is likely to be due to busy work and other reasons. forget.

Or if the funds are not received in time, it may cause overdue repayment and form an overdue record.

Prepayment time

Any repayment before the accounting date is considered early repayment. Unless there are special reasons, it is recommended not to repay the loan early.

Some cardholders believe that early repayment will help banks increase their credit limit. In fact, this idea has no factual basis.

The interest-free period provided by the bank can be used normally, as long as it is repaid before the repayment date, there is no need to repay prematurely.

Credit cards, also known as 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 name of the issuing bank, validity period, number, cardholder name, etc. printed on it. There are magnetic strips and signature strips on the front and back. Consumers holding credit cards can go to specialized commercial service departments for shopping or consumption, and then the bank settles with the merchants and cardholders, and the cardholders can overdraw within the prescribed limit.

Credit cards stipulated in the relevant laws of our country ("Interpretation of the National People's Congress Standing Committee on 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, and cash deposits and withdrawals. An electronic payment card with all or part of the functions such as payment. On December 1, 2017, the "Official English Translation and Writing Standards" was officially implemented, stipulating that the standard English name of a credit card is CreditCard.

A general credit card is a special carrier plastic card with a length of 85.60mm, a width of 53.98mm, and a thickness of 1mm. The issuer's name, expiration date, number and cardholder's name are printed on the front, and there are chips, magnetic strips and signature strips on the back. Cardholders can use their credit cards to shop, spend money, and deposit and withdraw cash at designated institutions.

The credit card has arrived. I made a purchase today. When will I pay it back?

The amount consumed by the card on the credit card repayment date will be repaid on the next repayment date.

1. Credit card repayment means that when the cardholder’s credit card consumption reaches the final repayment date, in order to ensure the cardholder’s good credit record, the repayment amount is brushed out and the funds are returned to the bank. . Although the biggest feature of a credit card is its overdraft function, it actually constitutes a loan relationship between the customer and the bank. Failure to repay when due may not only result in legal consequences, but also bear high penalties and interest, and most importantly, may cause Bad records.

2. The repayment methods mainly include: card issuing bank counter, ATM, online banking, automatic transfer, telephone banking repayment, etc. After repayment, the credit card limit will be restored immediately, and the payment will generally be credited to the account after the system processes it on the same day.

3. The mobile phone is a personal payment terminal of the mobile financial system. It can be used to pay directly by swiping the card, and can also perform transfers and other services. Instant payment!

4. Convenience store repayment Convenience store repayment is mainly completed through the "Lakala" smart payment terminal installed in the convenience store. It usually takes 2 to 3 working days to arrive in the account, and there is no handling fee for repayment using this method.

5. The more common domestic online repayment methods include: Baidu Wallet, UnionPay Online, Kuaiqian, Shengfutong, Alipay, Yipay, etc. Depending on the platform and bank you choose, the charging standards and specific payment arrival time will be different.

6. Inter-bank transfers/remittances and repayments are mainly divided into two methods: inter-bank inter-bank in the same city and inter-bank inter-bank in different places.

Regardless of the method of transfer or remittance, the remittance bank will charge a certain fee. At the same time, the time it takes for the money to arrive and the convenience of repayment are not as good as intra-peer repayment, online repayment, convenience store repayment and other methods.

7. The consequences of overdue credit card repayment will be serious, so overdraft consumption should be moderate. Although the biggest feature of a credit card is its overdraft function, it actually constitutes a loan relationship between the customer and the bank. Failure to repay when due may not only result in legal consequences, but also bear high penalties and interest, and most importantly, may cause A bad credit record will have a negative impact on your future work and life. Consequences of overdue credit card payments.

8. Bearing high penalty interest After a credit card defaults, the penalty interest fees usually involved are recurring interest fees and late payment fees. Revolving credit is essentially a small, unsecured loan that accrues interest on a daily basis. If the full amount is not repaid on the final payment date, revolving credit interest will accrue on the next statement, and it will start from the date the consumption is recorded. Calculate interest.

How long does it take to repay the money after using the credit card

The credit card repayment period is calculated based on the billing date of the credit card and the date of consumption using the credit card, and is not fixed.

The bank will inform you of the billing date when issuing the card, and each bill will also have a billing date. The repayment period varies from bank to bank. Generally speaking, it is 18 to 25 days after the statement date. The shortest is 18 days for China Merchants Bank and the longest is 25 days for Industrial and Commercial Bank of China.

The period from the date of consumption with the credit card to the billing date plus the repayment period is the date when you can enjoy interest-free repayment. According to this calculation scheme, consumption on the day after the bill date can enjoy the longest interest-free repayment period, and consumption on the day before the bill date can enjoy the shortest interest-free repayment period. Generally speaking, the interest-free repayment period of credit cards ranges from 20 to 50 days.

The common domestic credit card repayment methods mainly include the following categories (according to the level of fees):

In-bank repayment

This repayment method mainly includes: card issuance Bank counter, ATM, online banking, automatic transfer, telephone banking repayment, etc. After repayment, the credit card limit will be restored immediately, and the payment will generally be credited to the account after the system processes it on the same day.

Mobile repayment

The mobile phone is a personal payment terminal of the mobile financial system, which can be used to directly repay the loan by swiping the card, and can also perform transfers and other services. Instant payment!

Convenience store repayment

Convenience store repayment is mainly completed through the "Lakala" smart payment terminal installed in the convenience store. It usually takes 2 to 3 working days to arrive in the account, and there is no handling fee for repayment using this method.

Online repayment

The more common online repayment methods in China include: Baidu Wallet, UnionPay Online, Kuaiqian, Shengfutong, Alipay, Yipay, etc. Depending on the platform and bank you choose, the charging standards and specific payment arrival time will be different.

Inter-bank transfer

Inter-bank transfer/remittance repayment is mainly divided into two methods: inter-bank in the same city and inter-bank in different places. Regardless of the method of transfer or remittance, the remittance bank will charge a certain fee. At the same time, the time it takes for the money to arrive and the convenience of repayment are not as good as intra-peer repayment, online repayment, convenience store repayment and other methods.

Counter Pass

Counter Pass refers to the bank cards issued by various networked financial institutions. RMB current deposits can be made through the counters of other bank branches registered in the UnionPay Exchange Center host system. Withdrawal transactions.

Lakala

Cardholders can complete credit card repayments, mobile phone recharges, online bill payments and other services through convenience stores, bank outlets or purchasing "Lakala" device terminals.

Xinfutong

The "Xinfutong" smart card swiping phone was independently developed by China UnionPay, certified by the Bank Card Testing Center, and provided with financial service support by China UnionPay's inter-bank information exchange network of innovative electronic products.

Repayment Tong

Use "Repayment Tong" to repay, and the fees are generally charged according to the fee standards for intra-city inter-bank transfers and long-distance inter-bank remittances stipulated by the local People's Bank of China.

Intelligent repayment

The new industry, its main function is to use the balance of about 5%-10% in the card to formulate a consumption and repayment plan and then use a licensed payment company Execute automatic recurring consumption repayment to achieve full repayment, and charge a certain handling fee. The basic functions include bill management, local payment, free card application, etc.

This is the end of the introduction about how long it takes to repay a credit card and how long it takes to effectively repay a credit card. I wonder if you found the information you need?