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Why is the revolving interest rate of China Merchants Bank's credit card so high?
if it is a CMB credit card, the revolving interest is charged when you use revolving credit to repay the loan or use cash borrowed in advance. If you pay off all the consumption money in full before the due repayment date of the current billing cycle, you can enjoy the interest-free period by swiping your card and will not generate cyclic interest; If you don't pay off all the bills in the current period on time, it will be regarded as using revolving credit. Interest will be charged on all the consumption in the current period from the bookkeeping date (usually the day after consumption), with a daily interest rate of five ten thousandths until you pay off all the bills. If you use the cash advance function, you can't enjoy the interest-free period for the cash advance. Interest will be accrued from the day you withdraw the cash, with a daily interest rate of five ten thousandths, and compound interest will be calculated monthly until you pay it off.