If you pay off the bill in full on the final repayment date, you don't need to pay any interest and late fees, and you can also enjoy the interest-free period given by the bank; The bill of the current month has not been paid off in full, and there is no interest-free period. All consumption will be calculated at the rate of five ten thousandths of daily interest from the date of consumption, with daily interest and compound interest every month.

According to the Notice on Issuing the Measures for the Administration of Credit Card Business:

Article 19 Credit card overdraft interest shall be charged at the rate of five ten thousandths of daily interest within 15 days from the date of signing the contract or the date of bank entry, and at the rate of five ten thousandths of daily interest after 15 days, and at the rate of fifteen thousandths of daily interest after 30 days or when the overdraft amount exceeds the prescribed limit. The overdraft interest is not divided into sections, and the interest is calculated according to the highest interest rate grade or the highest overdraft amount.

Extended data:

According to the Notice on Issuing the Measures for the Administration of Credit Card Business:

Article 55 In any of the following circumstances, the People's Bank of China shall order it to make corrections, confiscate its illegal income and impose a fine of 50,000 yuan to 654.38 million yuan; If the circumstances are serious or overdue, it may be ordered to suspend business for rectification.

(a) do not implement the technical standards stipulated in these measures;

(2) lowering the handling fee standard without authorization;

(3) Failing to implement the overdraft interest rate and interest-bearing measures stipulated in these Measures.

Fifty-sixth card-issuing banks in violation of the provisions of these measures, did not submit credit card articles of association, filing materials and business statements to the People's Bank of China, the People's Bank of China shall order it to make corrections; If no correction is made within the time limit, a fine of 6,543,800 yuan or more and 6,543,800 yuan or less shall be imposed.

Fifty-seventh card-issuing banks in any of the following circumstances, in accordance with the "People's Republic of China (PRC) City Commercial Bank Law" and the relevant provisions of cash management to be punished accordingly:

(1) Failing to implement the prescribed deposit interest rate;

(2) Failing to pay the deposit reserve to the People's Bank of China as required;

(3) helping cardholders to withdraw cash in violation of regulations.

Article 58 If the issuing bank fails to send the payment stop bill to the special unit within the specified time, causing financial losses, the issuing bank shall bear the economic responsibility.

Article 59 If the issuing bank or correspondent bank violates the provisions of these Measures, it will help the unit cardholder to transfer other deposit accounts or sales income to his credit card account, or help the individual cardholder to transfer other funds to his credit card account, and it will be fined from 50,000 yuan to 6,543,800 yuan.

Baidu Encyclopedia-Notice on Printing and Distributing the Measures for the Administration of Credit Card Business