If only the minimum repayment amount is paid when the credit card is repaid, the interest will be charged after the due repayment date of the credit card.
Every day, five ten thousandths of interest will be charged in the form of full penalty interest, that is, interest will be charged on the repayment part, and compound interest will be calculated monthly.
Therefore, if the minimum repayment amount has been made, in the long run, it will lead to more and more interest to be repaid.
Second, there is a risk of overdue.
If you keep making the minimum repayment, it will lead to more and more money to be repaid, so in the long run, it may be overdue because it is sometimes not paid.
Third, it is not conducive to increase.
In order to increase the credit card limit, in addition to spending more cards, it is also necessary to repay on time. In addition, banks prefer to pay in full and properly handle customers who pay by installment. If they always pay the minimum amount, it is not conducive to credit card withdrawal.
Note: The minimum repayment amount of each bank is different, which is generally about 10% of the bill amount; However, if the minimum repayment amount is not paid this month, the minimum repayment amount next month = the minimum repayment amount next month+the overdue fine payable this month+the minimum repayment amount this month (about 65438+ 00% of the total amount). After the minimum repayment amount is paid, from the due date, it is necessary to charge five ten thousandths of the daily interest of the full bill of the month, and compound interest on a monthly basis, which is easy to form a vicious circle.