1. Interest rate standard

Credit card overdraft interest rate is subject to upper and lower limit management, with the upper limit of overdraft interest rate being five ten thousandths of the daily interest rate and the lower limit being .7 times of the daily interest rate.

the method of calculating and settling interest on credit card overdrafts, whether to calculate and pay interest on credit card overpayments and its interest rate standard are determined by the card issuer independently.

ii. Interest-free repayment period and minimum repayment amount

The conditions and standards for cardholders to enjoy interest-free repayment period and minimum repayment amount for overdraft consumption shall be determined by the card issuer independently.

iii. liquidated damages and service charges

the late payment fee for credit cards shall be cancelled. for the cardholder's overdue repayment, the card issuer shall agree with the cardholder through agreement whether to collect liquidated damages, and the relevant collection methods and standards.

iv. cash advance business of credit card

cash advance business of credit card includes cash withdrawal, cash transfer and cash recharge.

v. transaction information

the bank card clearing institution shall, together with the card issuer and the acquiring institution, further improve the business rules and technical standards of credit card transactions in strict accordance with the relevant regulatory provisions on bank card business.

VI. Obligation of information disclosure

Card issuers should fully disclose credit card application conditions, product functions, charging items and standards, knowledge of safe card use and standard agreements and articles of association of credit cards through their websites and other channels, and update them in a timely manner. VII. Handling of transactions that are not authorized by themselves

When cardholders propose transactions that are not authorized by themselves, card issuers should promptly guide cardholders to keep evidence and handle error disputes in accordance with relevant rules. Drum

VIII. Submission of interest rate information

If the card issuer adjusts the credit card overdraft interest rate, interest-free repayment period, minimum repayment amount and other related standards, it shall report to the People's Bank 6 days in advance.

IX. Self-discipline management of credit card business

Give full play to the role of self-discipline mechanism of market interest rate pricing, implement self-discipline management of credit card interest rate determination and interest-bearing rules, and maintain the fair competition order in the market.

Extended information:

In the early stage of the development of the credit card industry, the government stipulated a unified fixed interest rate, which was conducive to the formation of standardized and standardized credit card products and services and played a positive role in promoting the rapid development of the credit card industry.

with the changes of the internal and external environment of the credit card market, the existing credit card interest rate policy can no longer meet the needs of social and economic development, which is mainly manifested in the following aspects: first, the current credit card interest rate pricing lacks flexibility and difference, and it is difficult to meet the personalized and diversified needs of cardholders for revolving credit services;

Second, the fixed single interest rate restricts the fine development of credit card asset business of card issuers, which is not conducive to effectively exerting the decisive role of the market in resource allocation, and is not conducive to the transformation and upgrading of the credit card industry from "staking the land" to "intensive cultivation";

Third, there is no linkage between the overdraft interest rate of credit card and the deposit and loan interest rate, and the role of credit card in encouraging consumption and expanding domestic demand has not been fully exerted.

In this regard, the People's Bank of China actively studies the credit card interest rate policy and prudently and steadily promotes the market-oriented development of credit card interest rates. Considering that in recent years, the credit card market has gradually matured and the risk management system has become more and more perfect, the independent pricing of credit card installment payment has tried and accumulated some experience, and the conditions for promoting the marketization of credit card interest rates are basically mature.

The People's Bank of China has fully listened to the opinions of all parties concerned and established the general idea of promoting the marketization of credit card interest rates step by step. On the basis of learning from the interest rate level of foreign mature credit card market and investigating the domestic market situation, the upper limit of overdraft interest rate is determined to be five ten thousandths of the current overdraft interest rate standard daily interest rate, and the lower limit of overdraft interest rate is lowered by 3% on the basis of five ten thousandths of the daily interest rate.

At the same time, relevant policy restrictions, such as how to calculate and settle interest on credit card overdraft, whether to calculate interest on overpayment and its interest rate standard, should be released to further improve the interest rate marketization mechanism.

Baidu Encyclopedia-Notice of the People's Bank of China on matters related to credit card business.