How many days is the interest-free period for a credit card?
The interest-free period for a credit card is set based on the specific billing date and repayment date of the bank. The interest-free period is from the credit card billing date to the repayment date. The day ends on the same day.
Suppose your credit card bill date is the 5th of each month, and the due date for payment is the 25th of each month. If you consume before the bill date, it will be included in the current bill, and if you repay between the 5th and 25th, you do not need to pay interest.
The interest-free period for credit cards is generally about 20 to 50 days, and the longest will not exceed 60 days. The interest-free period for credit cards of various banks may be different, and the billing dates are different. Interest periods will also vary.
Extended information:
A credit card, also called a credit card, is a credit certificate issued by a commercial bank or credit card company to consumers with qualified credit.
It is in the form of a card with the issuing bank name, validity period, number, cardholder name and other contents printed on the front, and a magnetic stripe and signature strip on the back.
Consumers holding credit cards can shop or consume at specially designated commercial service departments, and then the bank will settle the accounts with the merchants and cardholders. Cardholders can overdraft within the prescribed limit.
Credit cards as stipulated in the relevant laws of our country refer to electronic payment cards issued by commercial banks or other financial institutions that have all or part of the functions of consumer payment, credit loans, transfer settlement, cash deposits and withdrawals, etc.
On December 1, 2017, the "English Translation and Writing Standards in the Public Service Field" was officially implemented, stipulating that the standard English name of credit cards is CreditCard.
Credit card consumption is a non-cash transaction payment method. There is no need to pay cash when consumption, and repayment will be made on the billing date (BillingDate).
Credit cards are divided into credit cards and quasi-credit cards. Credit cards refer to credit cards in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; quasi-credit card It refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund as required. When the reserve account balance is insufficient to pay, the cardholder can overdraw within the prescribed credit limit.
The credit card generally refers to a credit card.
Starting from January 1, 2021, the credit card overdraft interest rate will be determined independently by the card issuer and the cardholder through independent negotiation, and the upper and lower limit management of credit card overdraft interest rates will be cancelled. The daily interest rate is 0.7 times 5/10,000).
The main features of credit cards:
①Credit cards are one of the fastest growing financial services today. They are an electronic currency that can replace traditional cash circulation within a certain range;
②Credit cards have both payment and credit functions. Cardholders can use it to purchase goods or enjoy services, and can also obtain certain loans from card issuers by using credit cards;
③Credit cards are high-tech products that integrate financial services and computer technology.
④Credit cards can reduce the use of cash;
⑤Credit cards can provide settlement services, facilitate shopping and consumption, and enhance a sense of security;
⑥Credit cards can simplify collection Reduce payment procedures and save social labor;
⑦Credit cards can promote product sales and meet social needs.
How to apply for 60 interest-free repayments with a credit card? Share some tips
It is very troublesome to pay off your credit card, especially if you owe a large amount for a long time. The more you owe, the more you owe and it will be difficult to pay it off. Many people plan to apply for installment repayment. And it is the kind that applies for 60 periods without interest. So, how to apply for 60 interest-free repayments with a credit card? Today I will share with you some tips.
How to apply for 60 interest-free repayments with a credit card?
In fact, it means negotiating repayment with the bank, signing a personalized installment agreement, stopping interest calculation on the credit card, and dividing the current debt into up to 60 repayment installments. Negotiated repayment is different from what we call credit card installment repayment, because it can only be handled after it is overdue, and it is much more difficult.
Usually banks will not easily agree to negotiate repayment. After all, banks definitely hope to recover the arrears as soon as possible, and the installment period is so long as 5 years, there is a lot of uncertainty, and no one can There is no guarantee that cardholders will be able to pay off their debts within the time limit after installment.
However, Article 70 of the "Measures for the Supervision and Administration of Credit Card Business of Commercial Banks" mentions that "under special circumstances, it is confirmed that the amount of credit card debt exceeds the repayment ability of the repayer and the cardholder still has the ability to repay. If the cardholder is willing to pay, the card-issuing bank can negotiate with the cardholder on an equal footing to reach a personalized installment repayment agreement. ”
That is to say, there is still hope if the three conditions are met, so apply for 60 interest-free repayments. When making a payment, you can start from three points:
1. Provide evidence of temporary insolvency caused by special circumstances (such as hospitalization, bankruptcy, accident, etc.), including balance sheets, bank statements, and lack of work. Proof, etc. Anyway, you have to tell the bank that you have no financial strength and assets for repayment.
2. Make a repayment plan and prove that you are able to repay the loan, but you can't pay it off temporarily. If you are employed, you need to provide proof of employment, otherwise you will just rely on saying that you can repay the loan. If you are unwilling to take action, the bank will definitely not believe it.
3. You also need to keep in touch with the bank at all times. You cannot refuse to answer the phone or lose contact when you move and change jobs. This is not proof of your willingness to repay. It is best to go to the bank more or less after the due date. Paying off some money on your credit card does not mean just paying off one or two hundred per month, but you should make appropriate installments based on the amount of debt you owe.
The above is the relevant introduction to "How to apply for 60-period interest-free repayment with a credit card". Please be reminded that applying for 60-period interest-free repayment with a credit card may not be successful. If you can follow the above three points There is still some hope in trying it.
Credit card interest-free 50-day rule
Credit cards provide interest-free period benefits, which generally range from 20 to 50 days. To enjoy the interest-free period, after customers swipe their cards for consumption, they need to pay off the bill in full before the due payment date (inclusive). As for how long the interest-free period can be enjoyed, it mainly depends on the time when the customer swipes the card for consumption. For example, if you want to enjoy the 50-day long interest-free period, you generally need to make purchases a few days after the bill date.
Because the consumption is made on the day after the bill date, the transaction is not included in the current bill, but in the next bill. Just wait until next month's bill comes out and pay it off before the next month's repayment date (inclusive). In this way, there can be more than a month between the time the consumption is recorded and the payment is made on the repayment date.
For example, if a customer's credit card statement date is the 5th of each month and the repayment date is the 25th of each month, it is stipulated that if the card is swiped on the billing day, it will be included in the current bill, and if the card is swiped on the next day, it will be included in the next bill, then After the customer made a transaction on September 6, it will be withdrawn on October 5, and the customer can pay it off before October 25 (inclusive). There are 50 days from September 6th to October 25th.
The so-called interest-free period is the buffer period for customers to save money after the credit card has a zero balance (or the balance in the card is less than the price of the product). Generally, it means that the customer will have this kind of interest after consumption. Interest-free period. As an explanation of the longest interest-free period, if the bank stipulates that the 25th of the next month is the repayment period, if you consume on the 1st, the longest interest-free repayment period is 56 days; if you consume on the 2nd, the repayment period for 55 days. The longest interest-free period is 56 days for most banks such as Bank of Communications, Industrial and Commercial Bank of China, and Agricultural Bank of China.
There are generally two types of interest-free period settings. One is that the bank clearly stipulates a certain day of each month as the interest-free repayment deadline. The interest-free period is the date between the bank accounting date and the deadline. , both ICBC and Agricultural Bank of China use this method; the other method is for the cardholder to choose a billing date according to needs, and then set the latest repayment date based on the billing date, then the interest-free period is from the bank's accounting date to the latest The date between the repayment dates, such as China Construction Bank and Minsheng Bank (600016, stock bar).
For example, if Ms. Ding’s bill date is the 1st of each month, and the repayment date is the 25th of each month, if Ms. Ding pays the bill on the second day of the August bill date, which is August 2 She spent 5,000 yuan on one day, and the bank’s new accounting date starts from the next day, August 2. Therefore, this consumption will definitely not be included in the bill on the first day, so Ms. Ding’s consumption on August 2 is the most significant. It may be that the bill issued on September 1st can be paid off on September 25th at the latest, so that there will be an interest-free period of more than 50 days; but if Ms. Ding purchases 5,000 yuan on July 31st, then the consumption record will be The bill will be issued on August 1st, and it must be paid by August 25th at the latest. However, it was paid one day early, and the interest-free period is only 25 days.
Is a credit card interest-free?
The credit card interest-free period mentioned by banks is generally the longest interest-free period, but not every purchase can get the longest interest-free period. . The interest-free repayment period means that the bank provides interest-free treatment to cardholders who make non-cash transactions and repay in full. The interest-free period starts from the bank’s accounting date and ends on the due repayment date
Credit Card For non-cash transactions, from the bank accounting date to the generation of the single-day statement for this consumption to the repayment date, you only need to pay off the current period's repayment amount (total amount owed) on the current statement in full. , you do not need to pay any interest on the funds advanced to the store by the bank for non-cash transactions (cash advances do not enjoy the interest-free discount).
Bank interest-free repayment period (unit: days)
Industrial and Commercial Bank of China 25-56
Agricultural Bank of China 25-56
Transportation Bank 25-56
Bank of China 20-50
China Construction Bank 20-50
Postal Savings Bank 20-50
CITIC Bank 20-50
China Merchants Bank 20-48
China Everbright Bank 20-50
Industrial Bank 20-50
Minsheng Bank 20- 50
Ping An Bank 20-50
Hua Xia Bank 22-51
Rural Commercial Bank 25-56
Assume that your bank The account arrival date is the 10th of every month. If you swipe the card once on May 9th, then you have to pay back the money within 20 or 25 days after May 10th (as for whether it is 20 days or 25 days) , each bank is different, Bank of Communications is 25 days, China Construction Bank is 20 days, and CITIC Bank is up to 50 days), so it is not wise to swipe the card at this time (when the payment date is approaching).
Similarly, if you swiped the card on May 11th, then the calculation of how much money you swiped from May 10th to June 10th will be calculated from June 10th. The money must be repaid within 20 or 25 days (probably July 5th). At this time, from the time you swipe the card to the final repayment date, there is the longest interest-free period, which is about 49 or 55 days, so after the payment date Swiping your card within a few days is the best option.
According to different card issuers, they can be divided into bank cards and non-bank cards
Bank cards. This is a credit card issued by a bank. Cardholders can shop at the card-issuing bank's special merchants, and can also withdraw cash at any time at any branch of the card-issuing bank or at places with ATMs.
Non-bank card. Such cards can be specifically divided into retail credit cards and travel and entertainment cards. Retail credit cards are credit cards issued by commercial institutions, such as department stores, petroleum companies, etc., which are specially used for shopping in designated stores or refueling at gasoline stations, etc., and are settled regularly. Travel and entertainment cards are credit cards issued by the service industry, such as airlines, travel companies, etc., used for purchasing tickets, meals, accommodation, entertainment, etc.
That’s it for the introduction of interest-free credit cards.