If you pay off your credit card immediately after spending it, you will also get points. After spending on a credit card, you must pay it off on time every month, otherwise late payment fees and interest will be incurred.

1. The late payment fee for an overdue credit card is: 5% of the minimum repayment amount that cannot be paid off.

2. Credit card overdue interest calculation formula: Credit card overdue interest = last month’s consumption * number of overdue days * 0.0005

There are three numbers in the above credit card overdue interest calculation formula, namely overdue interest Amount, number of overdue days and daily interest rate. The meanings of these three numbers are introduced below.

1. The amount of consumption last month

One thing that needs special attention is that the amount calculated for overdue credit cards is not the amount owed, but the amount of consumption last month. That is, if you spent 10,000 yuan last month, even if you have repaid 9,999 yuan, then if you owe 1 yuan, the overdue interest on your credit card will be calculated as if you owe 10,000 yuan.

So, try not to have an overdue credit card. Otherwise, if the consumption amount last month was large, the basis for calculating interest will be too large.

2. Number of days overdue

Because credit card overdue interest is calculated on a daily basis, the number of days overdue on a credit card is also important. The number of overdue days refers to the number of days from the billing date to the current billing date.

3. Daily interest rate

The daily interest rate for credit card overdue interest is uniformly stipulated to be 50,000 per day, which is 0.0005.