The revolving interest of China Merchants Bank cannot be recovered after being charged, which is generally caused by the overdue payment of the user's loans overdue or credit card. The most common is the overdue repayment of credit cards. If the credit card is overdue, the bank will charge a penalty interest and calculate the cyclic interest on a monthly basis until the user pays off all the arrears.

Credit card revolving interest refers to the interest generated when the cardholder uses the credit line circularly, which generally means that the cardholder only pays the minimum repayment amount. In addition, credit card overdraft will also generate interest, and you cannot enjoy interest-free repayment period.

According to your financial situation, you can decide the repayment amount by yourself every month before the current credit card bill expires. When the repayment amount is equal to or higher than the minimum repayment amount of the current bill, but lower than the current repayment amount, the remaining deferred repayment amount is the circulating credit balance.

Interest calculation of revolving credit:

The consumption amount of the last statement is the interest-bearing principal, and the interest-bearing days are from the account bookkeeping date to the account repayment date, and the daily interest rate is five ten thousandths. The interest on revolving credit will be listed in the next bill.

For example:

Mr. Zhang's bookkeeping date is 10 day per month.

On April 10, the bank printed the current bill for Mr. Zhang, including all his trading accounts from March 1 1 to April 10.

During the billing period, Mr. Zhang only made one consumption-on March 30th, the consumption amount was 65,438 yuan+0,000 yuan.

Mr. Zhang's current bill shows that the "payable amount in this period" is 65,438 yuan+0,000 yuan, and the "minimum repayment amount" is 65,438 yuan+0,000 yuan.

Under different repayment conditions, Mr. Zhang's revolving interest is as follows:

(1) If Mr. Zhang repays 1000 yuan in full before May 5, the circulating interest in the statement of 10 is 0 yuan.

(2) If Mr. Zhang only repays the minimum repayment amount of 65,438+000 yuan before May 5, and 65,438+00 yuan is repaid on the 65,438+0 day, the revolving interest on the 65,438+00 day statement will be 20.50 yuan.

The specific calculation is as follows:

1000 yuan X0.05%X32 days (March 30th-April 30th)

+( 1000 yuan-100 yuan) X0.05%X 10 days (May1-May 10)

Cyclic interest =20.50 yuan.