How to calculate credit card late payment fees

The credit card late payment fee is 5% of the unpaid minimum repayment amount, with a minimum of 10 yuan or 1 US dollar.

1. Regulations on credit card late payment fees

As an investment and financial management term, late payment fees were originally a type of execution penalty in administrative enforcement, but in practice it is not limited to the field of administrative law. . Academic circles generally believe that credit card late payment fees are essentially a type of "liquidated damages." Numerous ++ judgments also indicate that late payment penalties in civil contracts are regarded as agreements on liquidated damages.

Credit card default penalties are not charges set by commercial banks themselves. The People's Bank of China promulgated the "Bank Card Business Management Measures" in 1999, Article 22 stipulates: "The card-issuing bank shall treat the credit card holder's failure to repay the minimum repayment amount and the use of the card in excess of the credit limit according to the minimum repayment amount respectively. Late payment fees and over-limit fees will be charged on the unpaid portion and 5% of the portion exceeding the credit limit. "

That is to say, the proportion of late payment fees is uniformly stipulated by the People's Bank of China, which is 5% of the unpaid portion of the minimum repayment amount. %. However, due to different policies of each bank, the minimum amount set is also different.

Let me introduce the calculation method of late payment penalty: (minimum repayment amount - repayment amount) 0.05 = late payment penalty.

For example, last month I overdrafted 10,000 yuan on my credit card, and the minimum repayment amount was 1,000 yuan. On the final repayment day, only 200 yuan was paid, so the late payment fee was (1000-200)0.05=40 yuan.

Although each bank adheres to the five percent charging standard, the starting price is different. For example, Bank of Communications and China Merchants Bank charge a minimum of 10 yuan or 1 US dollar.

2. What circumstances constitute the crime of credit card++

According to the relevant provisions of Article 196 of the current Criminal Law, the following four circumstances constitute the crime of credit card++:

1. Using a forged credit card, or using a credit card fraudulently obtained with false identification;

2. Using an expired credit card;

3. Using someone else’s credit card fraudulently ;

4. Malicious overdraft. (The malicious overdraft mentioned here refers to the cardholder’s overdraft exceeding the prescribed limit or prescribed period for the purpose of illegal possession, and the card-issuing bank still fails to return the card for more than 3 months after two calls.)

(1) Knowing that one has no ability to repay and making a large overdraft that cannot be returned;

(2) Wantlessly squandering overdraft funds that cannot be returned;

(3) Escape after overdraft, change contact information, and avoid bank collection; (4) Escape and transfer funds, hide property, and avoid repayment; < /p>

(5) Using overdraft funds to carry out illegal and criminal activities;

(6) Other behaviors of illegally possessing funds and refusing to return them.

Fourth, the specific sentencing also needs to be determined according to the amount:

Using forged credit cards, credit cards fraudulently obtained with fake identity certificates, invalid credit cards, or fraudulently using other people’s credit cards to commit crimes. Credit card ++:

1. The amount is relatively large (5,000 yuan to 50,000 yuan): a sentence of not more than five years++++ or criminal detention, and a fine of not less than 20,000 yuan but not more than 200,000 yuan;

2. If the amount is huge (50,000 yuan to 500,000 yuan) or there are other serious circumstances, the sentence shall be not less than five years but not more than ten years++++, and a fine of not less than 50,000 yuan but not more than 500,000 yuan. Fine;

3. If the amount is particularly huge (500,000 yuan) or there are other particularly serious circumstances, a penalty of not less than ten years ++++ or ++++, and a fine of not less than 50,000 yuan and not less than 500,000 yuan A fine of not more than RMB 10,000 or property confiscation may be imposed.

How to calculate the late payment fee for Bank of China credit card?

If your Bank of China credit card fails to repay the minimum payment amount before the due payment date (inclusive), the bank will charge the minimum payment amount. A repayment penalty of 5% of the unpaid portion of the repayment amount will be charged. The specific calculation method of repayment penalty (i.e. late payment penalty) is: repayment penalty (i.e. late payment penalty) = (minimum payment amount - repaid amount) × 5%.

The above content is for your reference, please refer to actual business regulations.

If you have any questions, please feel free to consult Bank of China’s online customer service.

You are sincerely invited to download and use Bank of China Mobile Banking APP or Bank of China Cross-border GOAPP to handle related businesses.

How much is the penalty interest and late fee for each day of overdue credit card overdraft of 8,000?

If a credit card overdraft of 8,000 yuan is overdue, the penalty interest plus late fee will be about 20 yuan per day.

First, after the credit card is overdue, the interest will usually be calculated based on 0.05% of the overdue date. People may have overdue repayments due to having too many credit cards, or they may be too busy traveling for business, which may lead to overdue credit cards. Second, the definition of credit card overdue is based on the monthly credit card repayment date. If the cardholder fails to repay the full amount by the due date, it will be deemed as overdue repayment by the commercial bank. After riding the bull and watching the bear, I found that some banks also have time-tolerant services. Within the specified time range and amount range, there is still a chance of self-rescue, otherwise it will affect the personal credit record

Three , the calculation formula of credit card liquidated damages: repayment liquidated damages = (minimum repayment amount - amount repaid as of the due payment date) × 5%. Under normal circumstances, credit card default penalties are charged at 5% of the unpaid portion of the minimum repayment amount. Each bank has different standards for charging liquidated damages. Cardholders should refer to the card-issuing bank's standards for charging liquidated damages.

4. Credit card repayment penalty refers to when the cardholder fails to repay the credit card by the due date or the repayment amount is less than the minimum repayment amount. The minimum credit card default penalty is 1 US dollar or 1 euro or 5 yuan (the currency is the same as the corresponding minimum repayment amount, calculated on a monthly basis), or charged according to the agreed price if otherwise agreed in the agreement. For example: The cardholder's total repayment amount for the bill settlement on July 7 is 2,000 yuan, the minimum repayment amount is 200 yuan, and the due date for repayment is July 27. The cardholder paid back the credit card balance of 100 yuan on July 27.

Fifth, because the cardholder failed to pay off the minimum repayment amount before the due payment date, the bank will charge a penalty of 5 yuan in the August bill. Cardholders can log in to personal online banking and mobile banking to check the specific credit card due date. Repaying the minimum payment can maintain a good credit history of the cardholder. There is no additional due date for credit card installment business, and the cardholder can repay the amount normally according to the credit card bill.

Sixth, banks should be meticulous and rigorous in their credit card review work, verify the authenticity of identity materials (occupation, address, income, etc.) provided by individuals, and further improve the personal risk assessment mechanism. , make reasonable assessments based on the spending power of different groups of people, issue credit cards with appropriate amounts, strengthen the effective monitoring of cardholders' card use, provide scientific early warning, and prevent the occurrence of malicious overdrafts; while accepting credit card applications, make necessary decisions for customers Obligations and risk warnings, and the high penalty interest on credit cards that exceeds the interest-free period must be explained in detail. Banks should form a credit pool for personal bad credit on credit cards, and strictly control individuals' applications for credit cards at multiple banks, so as to prevent cases of malicious overdrafts from multiple banks

How to calculate late payment fees for overdue credit cards?

1. The late payment fee for overdue credit cards is: 5% of the minimum repayment amount that cannot be paid off. 2. Credit card overdue interest calculation formula: Credit card overdue interest = number of days overdue for last month’s consumption 0.0005. There are three numbers in the above credit card overdue interest calculation formula, namely the overdue amount, the number of overdue days and the daily interest rate. The meanings of these three numbers are introduced below. 1. One thing you need to pay special attention to is the amount of consumption last month. The amount calculated for overdue credit cards is not the amount owed, but the amount of consumption last month. That is, if you spent 10,000 yuan last month, even if you have repaid 9,999 yuan, then if you owe 1 yuan, the overdue interest on your credit card will be calculated as if you owe 10,000 yuan. Therefore, try not to have an overdue credit card, otherwise, if the consumption amount last month was large, the basis for calculating interest will be too large. 2. Number of days overdue Because credit card overdue interest is calculated on a daily basis, the number of days overdue on a credit card is also important. The number of overdue days refers to the number of days from the billing date to the current billing date. 3. Daily interest rate The daily interest rate for overdue interest on credit cards is uniformly stipulated to be 50,000 per day, which is 0.0005.

That’s it for the introduction to the sky-high late payment fees on credit cards.