If you fail to repay the "minimum repayment amount" in time before the due "repayment date", liquidated damages and interest will be charged, and your personal credit will be affected. The liquidated damages are 5% of the unpaid portion of the minimum amount, and the minimum amount is RMB 10 or USD 1. For all consumption in the current period, interest will be calculated and charged starting from the settlement date (usually the next day after consumption), and the daily interest is 0.05 until it is paid off. To avoid affecting your personal credit, it is recommended that you repay on time; if it is not convenient to pay in full, please pay at least part of the minimum repayment on time.
1. The interest-free repayment period is calculated so that you can enjoy it at any time, instead of the 56-day interest-free repayment period promised by the bank. Generally speaking, the interest-free repayment period is determined by three factors: the customer's credit card consumption date, the bank statement date and the repayment date specified by the bank. The interest-free repayment period is from the 4th to the 23rd of the month, 20 days; if the purchase is made on the 5th of the month (general merchant bills arrive one day later), the interest-free repayment period is from the 5th of the month to the 23rd of the following month, up to 49 days . Therefore, you must pay attention to two points when making purchases: one is the cardholder's consumption date; the other is the number of days between the bank's repayment date and the repayment date.
2. Don’t overdraft too much. According to the bank's credit card business management regulations and customer agreements, when the cardholder uses the credit card beyond the approved credit limit of the issuing bank, he will not be subject to a free interest treatment period, that is, he will pay overdraft interest from the overdraft date. Therefore, when enjoying the benefits of interest-free repayment of credit card overdrafts, cardholders should remember not to exceed the credit limit approved by the bank (i.e., the overdraft amount). Otherwise, the excess amount will not be able to enjoy the interest-free repayment treatment and will have to pay unexpected overdraft interest. .
3. Overdrafts must be paid off. Credit card purchases should be used. During the interest-free repayment period, cardholders do not need to pay interest when repaying in full. However, if the repayment part is overdrafted and meets the minimum repayment amount stipulated by the bank, there are two different interest calculation methods: the first is that the cardholder does not pay a penny during the repayment period and cannot enjoy the interest-free treatment. ;The other is to only pay the interest in arrears.
Credit card withdrawals do not enjoy the interest-free period, but interest will be calculated from the date of withdrawal. Credit card withdrawals are interest-bearing and do not enjoy interest-free treatment during the repayment period, and interest is calculated from the date of the overdraft withdrawal. This regulation is generally stated in the bank's credit card usage notes: "Credit card withdrawals or transfer overdrafts do not enjoy the interest-free repayment treatment, and interest is calculated at 0.05 of the daily interest from the date of the overdraft account."