"Reverse card" is a repayment method of robbing Peter to pay Paul. In the process of "reverse card", you have to pay a cash withdrawal fee every time, which increases day by day in constant repetition, resulting in higher and higher cost of "reverse card" until you can't fill the hole. At this time, most of your friends are in debt, and they don't have one or two credit cards, but several.
2. The debt ratio is increasing.
In the process of "reverse card", from the first one or two credit cards to the later "reverse card" of multiple cards, this operation process is very complicated. In order to ensure the normal repayment of each card, cardholders need to constantly "rob Peter to pay Paul", which is easy to be overdue, thus increasing their debt ratio and possibly paying a lot of overdue interest.
If you pay the credit card backwards, just don't forget the repayment time, which will result in late fees and interest.
1. The late payment fee for the credit card is 5% of the minimum repayment amount. Charge by the month.
2. Calculation formula of overdue interest of credit card: overdue interest of credit card = consumption of last month * overdue days *0.0005.
There are three figures in the above formula for calculating overdue interest of credit cards, namely overdue amount, overdue days and daily interest rate. Here are the meanings of these three numbers.
1. Last month's consumption
It should be noted that the overdue amount of credit card is not the amount owed, but the amount spent last month. In other words, if you spent 10000 yuan last month, even if you have paid back 9999 yuan, the overdue interest of the credit card will be calculated according to the debt of 10000 yuan.
So try not to generate overdue credit cards, otherwise the interest base will be too large if you spend a lot last month.
2 days overdue
Because the overdue interest of credit cards is calculated on a daily basis, the number of overdue days of credit cards is also very important. The number of overdue days refers to the number of days from the bookkeeping date to the bookkeeping date.
3. Daily interest rate
The daily interest rate of overdue interest on credit cards is uniform, which is 0.0005 per day.