First, the overdue interest rate of credit cards

In China, if a credit card is overdue, it will charge .5% of the overdue amount every day as overdue interest, that is, the daily interest rate of overdue interest rate is .5%, which is usually compounded monthly. If the cardholder fails to pay his debts for a long time, the profits will roll.

2. How to calculate the overdue interest of credit cards

Under normal circumstances, the overdue interest rate of credit cards in China Commercial Bank is calculated at .5%, and the calculation cycle starts from the credit card consumption date, even resulting in late payment fees. The bank will set a minimum repayment amount, and the daily overdue interest rate will be .5%, and there will be no late payment fee. If the repayment amount is less than the minimum repayment amount stipulated by the bank, it will be regarded as overdue. The daily overdue interest rate is . On the basis of 5%, there is also a late payment fee, which is generally 5% of the unpaid part of the minimum repayment amount, and is calculated on a monthly basis.

3. What should I do if the overdue interest of the credit card is too high?

1. Confirm that the amount owed by the credit card exceeds the repayment ability of the cardholder

After the overdue payment of the credit card occurs, you should contact the bank in time to indicate the repayment intention. Due to some irresistible reasons, the repayment cannot be made as soon as possible. Prove to the bank that it is not maliciously overdue and has no repayment ability at present. In this case, the bank will consider preferential interest according to the situation.

clear repayment intention

it is an important means to distinguish malicious overdue from non-malicious overdue that cardholders should have clear repayment intention and whether they have repayment intention subjectively. The minimum monthly repayment amount set up by China Commercial Bank is 1% of the arrears, as long as the minimum monthly repayment amount is not judged as overdue credit card. If even the minimum monthly repayment amount set by the bank is not up, you can further communicate with the bank.

3. Personalized installment repayment agreement

A personalized installment repayment agreement was reached through equal consultation with the bank. The specific content of the agreement depends entirely on the results of your negotiation with the bank and your repayment ability. If the negotiation with the bank is successful, you can negotiate a better interest rate with the bank, but the longest agreement can not exceed 5 years.

If there are still unclear or new situations, it is suggested that you call directly for free consultation, so as to understand the communication case and give you detailed and targeted answers, so as to avoid incorrect answers due to incomplete information and poor communication. I wish the rights protection success.