1. The general algorithm is to charge 5% for the unpaid part of the minimum repayment amount. Credit card repayment requires at least the minimum monthly repayment amount to be considered as normal repayment. If the due repayment is lower than the minimum repayment amount or the repayment is not made, it shall be deemed as overdue. There will be late fees and interest.
2. If you only pay the minimum repayment amount, although it will not affect your credit, consumer interest is inevitable, and interest will be charged. For example, I use CCB credit card, and the late payment fee is charged at 5% of the unpaid part of the minimum repayment amount, and the interest is charged in full from the entry date of each transaction until it is paid off.
How to calculate the late payment fee and interest for overdue credit card repayment?
From the date of consumption to the date of full payment, the cyclic interest shall be calculated at the rate of five ten thousandths per day. At the same time, the cardholder has to pay a late fee, accounting for 5% of the unpaid minimum repayment amount. The specific calculation formula is: late payment fee = (minimum repayment amount-the amount repaid before the due repayment date) × 5%.
How to calculate the overdue interest of credit card overdue repayment?
1. If the repayment is not made within the last repayment date: if it is overdue, a fine of 5% of the bill amount will be charged, and the minimum number of days for which 20 yuan interest is overdue is five ten thousandths per day; 2. If the minimum repayment amount is less than 10%, the overdue fine will be charged at 5% of the unpaid amount, and the interest on the minimum 20 yuan will be charged at 0.5 ‰ of the daily overdue interest; 3. The repayment amount exceeds 65,438+00%, but it has not been fully paid off: it is not overdue, but the interest is increasing every day, and the unpaid amount is increasing at the interest rate of five ten thousandths every day until the arrears are fully paid off. In addition to late fees and interest, overdue records will seriously affect the future credit life. For example, if you apply for another bank's credit card, the bank will investigate the applicant's credit history. If it is overdue, it will be difficult to apply for a credit card. Not only is it difficult to apply for a credit card, but even the loan will be affected.
So much for the introduction of how to calculate the overdue repayment of credit cards.