The minimum repayment amount means that if the cardholder has difficulty in repaying all the payables before the due repayment date, he can repay according to the minimum repayment amount stipulated by the issuing bank, but he cannot enjoy the interest-free repayment period. The minimum repayment amount is 65438+ 00% of the consumption amount plus other payables.
There is no minimum repayment date, only the last repayment date is the due repayment date, and the last repayment date is the 20th day after the bill date.
Extended data:
Influence of continuous use of credit card minimum repayment amount
1, full penalty interest
0.05% interest will be charged every day from the date when the consumption amount in the previous period is recorded in the account until it is fully paid off. If the minimum repayment amount is always used, the interest will be calculated according to compound interest, and the more money you owe, it is equivalent to penalty interest.
2. The actual high interest rate
The minimum repayment interest of credit card is 0.05%, which is equivalent to the annual interest rate 18.25%. Plus compound interest, it is a high interest rate.
3, more difficult to control
Long-term repayment with the minimum repayment amount of credit card, I don't feel high interest expenses, and I always think that there is no repayment pressure and I won't control my consumption, which leads to blind consumption concept and difficulty in extricating myself.
4. Bad credit record
Living on the minimum repayment amount for a long time, the more money you owe, the more you can't make ends meet, which leads to the inability to repay your credit card, which in turn affects your personal credit record, and the life with bad credit cards is blocked everywhere.
5. Reduce the quota and seal the card
Long-term use of credit card minimum repayment, some banks will think that you do not have enough financial strength, which may reduce your credit card, cause overdue situation, and seal your card, which is equivalent to being blacklisted by banks.
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