It shows that the current bill is 1 ten thousand yuan, and the last repayment date is 1 October 1 day. If you choose 1 October1day to pay off in full1ten thousand yuan, you will get an interest-free period of up to 50 days.
However, if you choose 1 October1daily minimum repayment 1000 yuan, and then you don't use this credit card to spend money or withdraw cash, then interest will be spent on August 12. The interest shall be calculated at the rate of 10000 yuan, and the daily interest shall be compounded at the rate of five ten thousandths of a month until all the arrears are paid off. So, next month, on the billing date of1October 1 1 day, your statement will include not only the unpaid part of 9000 yuan, but also.
The revolving interest here, it should be noted that when there is revolving credit, there is no interest-free period for new consumption. Every bank has a different calculation method of periodic historical interest.
Some interest is calculated according to the total consumption on the transaction bookkeeping date, some interest is not paid off after the minimum repayment, and some interest is charged on the bank bookkeeping date until all the arrears are paid off. In this way, under this repayment method, the annualized loan interest rate is as high as 20.02%, which is obviously higher than the interest rate of your mortgage, car loan and commercial loan, and even higher than the return rate of your investment for one year.
And we know that when the return on investment is less than the loan interest rate, it is actually using leverage to accelerate the loss. The consequence is that you can't pay off the credit card money in any case, and you are deeply mired in debt. Therefore, you should plan your credit card repayment time and capital situation reasonably, and pay off the whole amount in one lump sum. If only the minimum repayment amount is paid off, the interest will not be low. Once we are in debt, it is difficult to get out.