1. Calculate by the number of overdue days: the bank will set the demarcation point for the number of overdue days, for example, if it exceeds 7 days, it will be overdue, and if it exceeds 15 days, it will be a breach of contract. The late payment rate corresponding to different overdue days will be different. Generally, the longer the overdue days are, the higher the late payment rate will be. The calculation method of this method is: late fee = amount owed × late fee interest rate × overdue days.
2. Calculated according to the proportion of the minimum repayment amount: the credit card has a specified minimum repayment amount. If the minimum repayment amount is not paid within the time limit, the bank will charge a late fee according to a certain late fee rate. The calculation method of this method is: late fee = amount owed × late fee interest rate × overdue days × minimum repayment ratio.
It should be noted that banks may adopt both calculation methods, giving priority to the number of days overdue, and if the minimum repayment amount is not paid, it will be calculated according to the minimum repayment amount.
In addition, it is recommended that you always pay attention to your credit status and pay back in time to avoid late payment fees. If you don't know about your big data, you can search for "Beijian Quick Search" to query your 1-line credit data, so as to better manage your credit status.