What is credit card full interest? How is the interest calculated on the full amount? The consumer used a credit card to spend more than 18,000 yuan, and the debt of 69 yuan was not repaid, and it was overdue for 10 days, resulting in more than 300 yuan in interest. It turns out that the way banks charge overdue interest on credit cards is based on the total bill of the month, not on the unpaid portion. What is full interest on a credit card? How is the interest calculated on the full amount? If a credit card is not paid off for tens of yuan, the fine can reach up to one hundred yuan, which is very painful for some cardholders.

The so-called credit card interest accrual means that the credit card user fails to pay back the full amount on the repayment date. Interest is calculated on every purchase made by the customer from the billing date to the repayment date. The interest calculation method for bank credit cards is to calculate interest based on each purchase on the bill, that is, the interest is calculated in full, starting from the second day of card consumption. The transparent interest until the repayment date is calculated at 0.05 per day until the debt is repaid in full.

How to calculate the full interest on a credit card?

Take China Merchants Bank as an example. The credit card statement date for China Merchants Bank credit card holders is the 5th of each month, and the due date for repayment is the 25th of each month. The card consumption amount on the 1st of this month is 20,000 yuan. The due repayment date is 15,000 yuan, and the remaining 5,000 yuan will be repaid after 10 days.

Then, the credit card interest borne by the cardholder is calculated as follows:

20,000 yuan*0.05*25 days ( January 1st to January 25th) 5,000 yuan * 0.05 * 10 days = 275 yuan