Under normal circumstances, credit cards have SMS reminders 3 days (or 5 days) before the repayment date. At the same time, the minimum repayment amount means that as long as 10% of the arrears are paid, it is not overdue, and the rest of the arrears are calculated at the interest rate of five ten thousandths until they are paid off.

The last repayment date, also known as the due repayment date, refers to the latest date agreed by the bank and the cardholder to return all the payable amount or the minimum repayment amount in the current period. The final repayment date has been adjusted on the original basis, corresponding to the bookkeeping date.

Take ICBC as an example: at present, the final repayment date of ICBC is1-19,25, totally 20 repayment days. ICBC cardholders can choose a suitable repayment date according to their own preferences, but they can only adjust it once a year.

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If the credit card is unexpectedly overdue, the algorithm of bank interest and late payment fee is as follows:

Including some state-owned banks and some joint-stock banks, said that after the interest-free period, they would charge a certain amount of late fees and interest on overdue debts.

The answer given by most banks is that interest is charged at five ten thousandths of the principal of the overdraft every day, and a late fee is charged at five percent of the unpaid part of the minimum repayment amount every month, only once a month. Among them, some joint-stock banks indicated that the minimum late payment fee was 10 yuan/month.

Generally speaking, the amount owed = principal+late fee+interest+annual fee.

In other words, if you owe money and don't pay it off in time, after the interest-free period, you will incur a late fee on a monthly basis, with daily interest and an annual fee. Then, day after day, year after year, the expenses generated by the above deductions and interest deductions will be counted as your principal and continue to be accumulated.