Please refer to the following examples for calculating the minimum repayment interest of credit cards:
Xiaoming spent 65,438+00,000 yuan on March 365,438+0, and the bookkeeping date was 65,438+0 per month. Xiaoming received the bill for April at the beginning of April. The bill shows that the balance of the previous bill was 0, and only 10000 yuan was overdrawn in this period. The due date of repayment in this period is April 25th, and the payable amount in this period is RMB 654.38+00,000, with the minimum repayment amount of RMB 654.38+00,000.
If Xiao Ming chooses to repay 9000 yuan on April 25th. This amount obviously exceeds the minimum repayment amount of 1000 yuan, so according to the credit card regulations, Xiaoming will not generate late payment fees. However, due to the failure to meet the requirements of full repayment. Xiao Ming needs to pay the necessary interest. The overdraft interest consists of two parts:
A:10,000× 0.05 %× 26 days (from March A: 10 to April 25th) = 130 yuan.
B: 1000× 0.05 %× 5 days (April 26th to April 30th) =2.5 yuan.
The above interest, totaling 132.5 yuan.
This interest expense of 132.5 yuan will be reflected in Xiao Ming's bill in May.
Because he can't repay in full, Xiao Ming needs to calculate the interest in full from the date when the bank confirms the consumption until the actual repayment date; After that, Xiao Ming needs to recalculate the interest on the remaining unpaid part.
Extended data
Credit Card (English: credit card), also known as credit card. It is a non-cash transaction payment method and a simple credit service.
Credit card is generally a special carrier plastic card with consumer credit, which is 85.60mm long, 53.98mm wide and 1mm thick. It is issued by banks to individuals and units, so that they can shop, spend and deposit and withdraw cash from banks. The form is a card with the name, expiration date, number and cardholder's name printed on the front, and a magnetic stripe and signature on the back.
Credit cards are issued to cardholders by banks or credit card companies according to the credit and financial resources of users. Cardholders do not need to pay cash when using credit cards, but will make repayment on the billing date.
Credit cards are divided into credit cards and quasi-credit cards. Credit card refers to the credit card issued by the bank, which gives the cardholder a certain credit limit, within which the cardholder can spend first and then repay. A quasi-credit card refers to a quasi-credit card issued by a bank. The cardholder deposits a certain amount of reserve fund according to the regulations. When the balance of the reserve fund account is insufficient to pay, it can be overdrawn within the prescribed credit limit. Credit cards generally refer to credit cards.