What is the longest interest-free period for a credit card? How to calculate?

For many cardholders, the longer the interest-free period on their credit cards, the better. As far as we know, the longest interest-free period for credit cards is 60 days. Starting from January 1, 2017, cardholders will be able to enjoy more than 60 days of interest-free period. Are you very excited?

Of course, this is due to the "Notice of the People's Bank of China on Matters Related to Credit Card Business" issued by the People's Bank of China on April 15. So, after the new regulations are implemented, how to calculate the interest-free period of credit cards?

The current "Bank Card Business Management Measures" stipulates that the maximum interest-free repayment period for credit cards is 60 days, and the "Notice" issued cancels the current maximum interest-free repayment period for overdraft consumption. Regulations are determined independently by card issuers based on business principles and cardholder needs.

However, what is certain is that after each bank determines the interest-free period independently, it is possible that each bank sets a minimum time limit for the interest-free period (such as at least 25 days of interest-free period), and then determines the interest-free period according to the card applicant. The specific qualifications are flexible to determine the longest interest-free period. That is to say, if you want to enjoy the longest interest-free period, you must meet these conditions:

1. Frequently use credit cards: credit cards The most popular among banks, and frequent credit card swiping can also increase your credit card limit.

2. Repay on time without overdue payment: Under the new regulations, the interest-free period for each cardholder’s repayment will be related to their own card usage habits and card usage records. If the cardholder often has late payments, Behavior, it is conceivable that the bank will not provide you with the longest interest-free period.

3. Full repayment: If you only repay the minimum payment amount on the due payment date, you will not be able to enjoy the interest-free period. The interest-free repayment period can only be enjoyed by repaying the full amount due.

For example

Suppose your bill date is the 1st of each month and the repayment date is the 30th of each month. If you consume 5,000 on August 2, 2017 Yuan, it will be credited to the account the next day, and it can be repaid by September 30 at the latest, so there will be an interest-free period of more than 60 days.

Which bank has the longest credit card interest-free period?

The interest-free period of a credit card is simply the period of the cardholder’s bank funds. Among the 19 banks that issue credit cards, the longest interest-free periods are basically divided into three types: 50 days, 51 days and 56 days. The longest interest-free period for six banks, including Industrial and Commercial Bank of China, Bank of China, Agricultural Bank of China, Bank of Communications, Bank of Nanjing and Bank of Ningbo, is 56 days, Huaxia Bank has a maximum interest-free period of 51 days, and the rest of the banks have a maximum interest-free period of 50 days.

1. Interest-free period of 56 days

Industrial and Commercial Bank of China, Bank of China, Agricultural Bank of China, Bank of Communications, Bank of Nanjing, and Bank of Ningbo.

2. Interest-free period of 51 days

Hua Xia Bank.

3. Interest-free period of 50 days

China Merchants Bank, China CITIC Bank, China Everbright Bank, Shanghai Pudong Development Bank, Industrial Bank, Bank of Beijing, Citibank, Ping An Bank, China Construction Bank, China Guangfa Bank .

How many days is the interest-free period for a credit card?

The interest-free period starts from the bank accounting date to the final repayment date. The accounting date is the day when the cardholder swipes the card for consumption. The repayment date is the day when the cardholder should repay the money, usually 20 or 25 days after the bill date. At present, the five major state-owned banks, Industrial and Commercial Bank of China, Agricultural Bank of China and Bank of Communications, provide cardholders with an interest-free period of up to 56 days. For example, at Industrial and Commercial Bank of China, if the customer's credit card payment date is December 1, the repayment date will be January 25 next year, with a 56-day interest-free period in between.

China Construction Bank and Bank of China provide interest-free periods of up to 50 days. Most of the 11 joint-stock banks provide cardholders with interest-free periods of 50 days. Joint-stock commercial banks such as Shanghai Pudong Development Bank, Minsheng Bank, Industrial Bank, CITIC Bank, and Ping An Bank all have a maximum interest-free period of 50 days. For example, if the Industrial Bank card is swiped on November 2, the repayment date will be December 21, with an interval of 50 days.

However, China Guangfa Bank has given a maximum interest-free period of 56 days for standard cards, hope cards, and QQ cards. The interest-free period for other cards of the bank is still 50 days. Although the Beijing Rural Commercial Bank credit card was launched late, it still gives cardholders an interest-free period of up to 56 days. For example, the customer's bill date is October 13th, the card payment date is the 14th, and the final repayment date is On December 8, you can enjoy an interest-free period of up to 56 days.

1. How to enjoy the longest interest-free period with your credit card.

The length of the interest-free period mainly depends on the cardholder’s consumption date, which is the billing date. Therefore, credit card holders need to check their billing date first. If they consume on the repayment date, they can enjoy The interest-free period is relatively long. Because consumption is made on the repayment date, the bill is generally recorded in the repayment amount of the next month.

For example: If the bill date is the 20th of each month, and you spend 500 yuan on March 19 (the transaction day), if the consumption is credited to your credit card account on March 20 (that is, the billing day) , the repayment due date is 25 days after the bill date, that is, April 14, and the interest-free period is 25 days. If a card payment is made on March 20, and the payment is credited to the account on March 21, the due date for repayment is 25 days after the April bill date, that is, May 15. The interest-free period for this amount is (3125)***56 days.

Final reminder: When using a credit card, don’t blindly think about how to enjoy the longest interest-free period. The most important thing is not to cause late repayment.

The interest-free period of each bank's credit card

The interest-free repayment period refers to the interest-free period from the bank's accounting date to the due repayment date. There are two ways to set the interest-free period. One is that the bank clearly stipulates a certain day of each month as the interest-free repayment deadline. The interest-free period is the date between the bank’s accounting date and the deadline; the other is that the card holder People choose a billing date based on their needs, and then set the latest repayment date based on the billing date. Then the interest-free period is the date between the bank accounting date and the latest repayment date.

1. Bank of China

The longest interest-free period for Bank of China credit cards is 50 days, and the repayment date is 20 days after the bill date. The bill date is fixed, and the repayment date is not fixed (divided) Big and small months). The billing date of a Bank of China credit card can be adjusted once every calendar year, provided that the bill must be paid off in full.

2. Agricultural Bank of China

The longest interest-free period for Agricultural Bank of China credit cards is 56 days, and the repayment date is 25 days after the statement date. The repayment date is not fixed (divided into small and large months). The billing date is given by the system and cannot be adjusted.

3. Industrial and Commercial Bank of China

The longest interest-free period for ICBC credit cards is 56 days, and the repayment date is 23 days after the statement date (a 30-day month is used to calculate the repayment date). fixed. The billing date can be adjusted once a year, and can be adjusted by phone or ICBC app.

4. China Construction Bank

The longest interest-free period for CCB credit cards is 50 days, and the repayment date is 20 days after the bill date. The repayment date is now fixed, and it lasts for one year. You can modify the billing date once. If the billing date changes, the repayment date will change accordingly.

5. Bank of Communications

The longest interest-free period for Bank of Communications credit cards is 56 days, and the repayment date is 24 days after the bill date. The repayment date is fixed and will not change with the month. The billing date can be adjusted, but it can only be adjusted once within the validity period of the card.

6. China Merchants Bank

The longest interest-free period for China Merchants Bank credit cards is 50 days, and the repayment date is 18 days after the statement date (any excess is calculated as 30 days). China Merchants Bank's credit card swipes and repayments are only credited to the account the next day. If you need to pay attention, it is best to make the repayment one day in advance. In addition, the billing date of China Merchants Bank can be adjusted, but it cannot be adjusted again within six months after a single adjustment.

7. China Guangfa Bank

The longest interest-free period for Guangfa Credit Card is 50 days, and the repayment date is 20 days after the statement date (counted as 31 days if it spans a month), such as the 21st It's the billing day, and the repayment date is the 9th of the following month. GF’s platinum card allows you to adjust the billing date once a year. Ordinary credit cards cannot be adjusted.

8. China CITIC Bank

The maximum billing date for CITIC credit card is 50 days, and the repayment date is not fixed and is 19 days after the billing date. The CITIC Bank credit card statement date can only be modified once every six months. The modification range must be from 1 to 20 (inclusive) and should not be more than 8 days before or after the original statement date. The modification will take effect the following month.

9. The maximum interest-free period for Industrial Bank Industrial Credit Card is 50 days, and the repayment date is not fixed and is 20 days after the bill date. The billing date can be adjusted twice a year.

10. Ping An Bank

The longest interest-free period for Ping An Bank credit cards is 50 days, and the repayment date is fixed, which is 18 days after the bill date, and will not change with the month. The billing date can be adjusted, and the adjustment interval is half a year.

That’s it for the introduction to the longest interest-free period for credit cards.