What does it mean when there is a minimum payment when repaying my CITIC credit card?

The minimum repayment amount is controlled by the bank, and you cannot set the minimum repayment amount yourself. You can apply for minimum repayment when your credit card is due.

The specific credit card repayment deadlines and penalties are as follows:

If you pay it off in full, no fees will be incurred;

Credit cards generally have three days after the repayment date. Grace period, repayment within the grace period is deemed to be repayment on time;

If you repay the minimum repayment amount, daily interest needs to be calculated, starting from the date of consumption accounting;

If If the repayment exceeds the grace period or the repayment amount is less than the minimum repayment amount stipulated by the bank, it will be considered overdue, and interest will be calculated from the accounting date. In addition, a late payment fee of 5% of the unpaid portion of the minimum repayment amount will be charged on a monthly basis. ;

The specific daily interest rates may vary for various credit cards.

Can CITIC Credit Card have a minimum repayment?

1. CITIC Credit Card has a minimum repayment. The minimum repayment amount is 10% of the credit card overdraft consumption bill amount, plus various installments, Cash withdrawals, interest, and fees are all covered.

2. It should be noted that the minimum repayment amount does not enjoy interest-free treatment. The bank will calculate interest in full from the date of consumption, and the daily interest rate is 0.05% until the date of repayment. . However, the minimum repayment of CITIC Credit Card will not affect personal credit, and will not incur overdue penalties and liquidated damages. It is a compliant repayment method that the cardholder can choose when the repayment ability is insufficient.

For more information about the minimum repayment for CITIC credit cards, go to: View more content

What does the minimum repayment for CITIC Bank credit cards mean?

The minimum repayment amount of CITIC Bank credit card means that if you are inconvenient to repay the full amount, you can choose to pay the minimum repayment amount. Paying the minimum repayment amount before the final payment date will not affect your credit record. No liquidated damages will be incurred and no application is required. Please refer to the specific amount indicated on the bill. I heard that China CITIC Bank credit card has recently increased the credit limit for everyone, which feels pretty good.

What is the minimum repayment amount for a CITIC Bank credit card?

CITIC’s minimum monthly repayment is 5% of the total amount due on the current bill. After choosing the minimum repayment amount, interest will be charged at 0.5% per day starting from the consumption date, and compound interest will be repaid monthly.

The calculation method is: "10% of the consumption amount within the credit limit, 100% of the cash advance transaction amount, 100% of the unpaid portion of the minimum repayment amount in the previous period, 100% of the amount of consumption exceeding the credit limit, and 100% of fees and interest."

Extended information:

CITIC minimum repayment interest:

CITIC Bank credit card overdue interest is calculated and charged based on the full penalty interest rate. You cannot enjoy the interest-free period if you choose the minimum repayment amount of the bill. The interest is calculated in two stages:

1: Amount (actual amount of card swiped) × interest rate (0.0005 per day) × time (minimum repayment on the day of swiping the card) The number of days before the payment is made);

2: Amount (the remaining unpaid amount) × interest rate (0.0005 per day) × time (the number of days from the day when the minimum payment is paid to the day before the payment is made).

If the bill settlement interest is less than or equal to 0.02 yuan, it will be waived. If it is greater than 0.02 yuan and less than 1 yuan, it will be charged at 1 yuan. The sum of the interest generated in the two stages is the total interest. If you cannot repay on time, you must apply to the bank for a deferral of repayment.

Reference source:

CITIC Bank-Credit Card Repayment

This is the introduction to what the minimum repayment amount of CITIC Credit Card means.