First of all, overdue interest is a kind of expense, which is calculated according to a certain proportion of the daily overdue amount. The bank will determine the specific amount of overdue interest according to the annual interest rate of the credit card and the number of overdue days. The overdue interest will gradually accumulate with the increase of overdue days, so the earlier the repayment, the less the expenditure of overdue interest.
Secondly, the late payment fee is also a kind of fee for overdue repayment. Usually, the bank will stipulate that if the repayment is overdue within a certain period of time, a late fee will be charged. The amount of late fees is usually fixed and will gradually increase after a period of time.
In addition, overdue repayment may also lead to the freezing or cancellation of credit card accounts, which will bring inconvenience to daily life. Moreover, the record of overdue repayment of credit cards will have a negative impact on personal credit score, which may lead to difficulties in applying for loans or other credit products in the future.
To sum up, the calculation of overdue repayment fee of credit card mainly includes overdue interest and late payment fee. Overdue repayment will have a bad influence on personal credit and may lead to additional economic losses.
If you want to know more about the provisions of overdue repayment of credit cards and the calculation method of fees, please consult the issuing bank of your credit card or refer to the relevant credit card service terms. Remember, timely repayment is one of the important ways to ensure the safety of credit card use and avoid extra expenses.