How can a credit card be used for more than 50 days? The most important thing is the time to swipe the card

You can enjoy the interest-free period after paying off the credit card in full. However, some people can only use it for more than 20 days for free, but some people can use it for more than 50 days. The key lies in the bank. The interest-free period and credit card swiping time are different. Let’s see today how to use a credit card to last more than 50 days.

How can a credit card be used for more than 50 days?

The interest-free period for most bank credit cards is 20 to 56 days, such as Shanghai Pudong Development Bank and Minsheng Bank 50 days, China Construction Bank 52 days, Minsheng Bank and Ping An Bank 51 days, Agricultural Bank of China and Industrial and Commercial Bank of China have the longest interest-free period. The interest period is 56 days and so on.

However, it does not mean that all purchases can be made using a credit card for 50 days. It also depends on the time when the credit card is swiped. Usually the billing day is used as the watershed, which is divided into two types: swiping the card on the billing day and swiping the card the next day. , it depends on the bank regulations.

For example, ICBC, Bank of China, China Merchants Bank, Bank of Communications, and China Everbright Bank have the longest interest-free period for card swiping on the statement date. Those with the longest interest-free period for credit card swiping on the day after the statement date include Agricultural Bank of China, CITIC Bank, China Construction Bank, Hua Xia Bank, Shanghai Pudong Development Bank, Industrial Bank, etc.

In order to give everyone a better understanding, here is an example of an ICBC credit card introduction:

ICBC credit card purchases on the bill date can enjoy a 56-day interest-free period. For example, the cardholder's ICBC credit card bill is issued on the 1st of each month and the payment is repaid on the 25th of each month.

If the cardholder spends 5,000 yuan with the card on September 1st, all purchases between September 1st and 31st need to be returned before October 25th, and the credit card can be used for 56 days. If the purchase is made on September 30, the repayment will also be on October 25, but the minimum time is only 25 days, missing the 30-day interest-free period.

When does a credit card take the longest to be used?

The day after the statement date. For example, if your credit card statement is on the 10th, then if you swipe the card on the 11th, you will enjoy the longest interest-free period. Theoretically speaking, you can enjoy the longest interest-free payment if you pay after the bill comes out. Both dates on your credit card are important. The first is the "bill day". On this day, the bank will settle all the cardholder's consumption in the past month and generate a bill. This bill is the amount that needs to be repaid that month. The other is the "repayment date", which is the last date specified by the bank by which the amount of the bill must be repaid.

The interest-free period refers to: for credit card non-cash transactions, the period from the bank accounting date to the due repayment date is the interest-free repayment period. During this period, as long as you pay off the current period's repayment amount (total amount owed) in full on the current statement, you will not have to pay any interest on the funds advanced by the bank to the store for non-cash transactions (cash advances are not eligible) Interest-free offer).

Only if it is used on the first day after the accounting date (bill date), the longest interest-free period can be enjoyed. If it is used on the billing day, it will be the shortest interest-free period. The following examples are as follows: < /p>

Minimum interest-free period: For example, the billing date of a credit card is the 4th of each month, and the repayment date is 20 days after the billing date. Assuming that the card is used for consumption on January 4th, then in the bill on January 4th This consumption will be generated, and this consumption must be paid off on the repayment date of January 23, which is equivalent to only enjoying the 20-day interest-free period.

Maximum interest-free period: If the bill date and repayment date are still the same, and Xiaohong swipes the card for consumption on the bill date of January 5, the consumption record will be postponed to the next bill date. Reflected in the bill on February 4, the repayment due date is February 24, which is equivalent to enjoying an interest-free period of up to 50 days.

Bank of Communications Credit Card:

Bank of Communications credit card has the longest interest-free period (55~56 days) when the card is swiped on the statement date.

Consumption on and after the bill date can be repaid before the due payment date after the next bill date at the latest. The specific date is based on the billing date. It may not necessarily be whether it is the 20th, or whether it is "next month". The bank just sends a statement every month, and there is no such thing as a "month". For example: when the bill date is the 1st, the due payment date is the 26th of the same month. If you swipe the card on the 1st, the payment will be settled on the 1st of the next month, and you can repay before the 26th of the next month.

At this moment, "next month" is correct; if the billing date is the 25th, swipe the card on the 25th, and the settlement will be on the 25th of the next month, and the due repayment date will be the 20th of the "next month" (or the 19th), of course you have to repay the loan "next month" at this moment, but you could have repaid the loan "next month". You voluntarily waived your right to "reasonable default", what can others say? Don't say "next month" lightly, just remember that you can repay on the 25th day whenever you make a purchase, because the minimum repayment period for Bank of Communications credit cards is 25 days.

How to use the longest interest-free time of a credit card

As follows:

1. First apply for a credit card of your own. You can go to the bank for consultation or download the relevant information. You can apply online through the corresponding bank app.

2. Understand the billing date and repayment date. If your billing date is the 5th of each month, then swipe your card after the 5th. This way you can maintain the longest interest-free period, which can be as long as Up to 50 days (depending on the bank, some banks may exceed 50 days). Remember to only swipe the day after the billing date to enjoy the longest.

Credit cards are divided into credit cards and quasi-credit cards. Credit cards refer to credit cards in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; quasi-credit card It refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund as required. When the reserve account balance is insufficient to pay, the cardholder can overdraw within the prescribed credit limit. The so-called credit card generally refers to a credit card only.

Starting from January 1, 2021, the credit card overdraft interest rate will be determined independently by the card issuer and the cardholder through independent negotiation, and the upper and lower limit management of credit card overdraft interest rates will be cancelled. The daily interest rate is 0.7 times 5/10,000).

In most cases, citizens who have full capacity for civil conduct (citizens over 18 years old in mainland China) and have certain direct financial resources can apply for a credit card from the card issuing bank. Sometimes, legal persons can also be applicants.

Applicants for credit cards can be divided into units and individuals. Applicants should be institutions, enterprises and business units, foreign-funded enterprises and individual industrial and commercial households with independent legal person status in my country. Each unit applying for a credit card can receive a main card and multiple (5-10) supplementary cards as needed. To apply for a credit card, an individual must have a fixed occupation and a stable source of income, and provide a guarantee to the bank. The forms of guarantee include personal guarantee, unit guarantee and personal capital guarantee.

The application method is generally by filling in a credit card application form. The content of the application form generally includes the name of the applicant, basic information, economic status or source of income, guarantor and his/her basic information, etc. And submit certain copies of documents and certificates to the card issuing bank. After the customer fills in the application form truthfully according to the content, the customer must also submit the relevant credit certificate while submitting the completed application form. The application form is accompanied by a credit card use contract. The applicant authorizes the card-issuing bank or relevant departments to investigate its relevant information, and submits a statement of the authenticity of the information, the card-issuing bank's privacy protection policy, etc., and must have the applicant's signature.

How can I borrow a credit card to use it longer? Pay attention to two aspects

Many people will use credit cards to borrow money. However, considering that the repayment pressure is relatively high, they think about how to borrow money to make the repayment time longer, so that the borrowed money can be used longer. It can also be longer. Today I’m going to share with you some tips for borrowing money with a credit card, which are designed to cure all kinds of dissatisfaction.

How can I borrow a credit card to use it longer?

The first choice is to choose the right method of borrowing money.

There are two common ways to borrow money with a credit card, one is a credit card cash advance, and the other is a cash installment.

If you borrow money through cash advance, it will take the shortest time. Many banks do not support the minimum repayment of cash advance. No matter when the cardholder borrows the money, as long as the bill comes out All arrears, including principal and interest, must be paid off at once on the repayment date. You will not just have to pay back 10% of the principal every month as before.

The credit card cash installment is different. Most banks can provide repayment in 3 to 24 installments, and there are even 36 installments. After borrowing, you will have to pay back part of the principal every month, and then repay the loan in 3 to 24 installments. You can still enjoy the interest-free period, but you have to borrow it for a longer period of time than a cash advance.

Secondly, you must choose the right time to borrow money.

No matter which method of borrowing money, the longest period of time that can be borrowed is based on the credit card statement date as the watershed.

To put it simply, if you borrow money before the credit card bill date, the borrowing time will be the shortest, because the bill will be issued that month; if you borrow money after the bill date, it will be paid out on the next bill date and you will be repaid. The loan time is at least one month longer, and the borrowing time will naturally be much longer.

The last thing to remind is that after borrowing money from a credit card, you must repay it. When considering the length of the borrowing time, you should also consider the cost of borrowing money. Try to choose one with low cost and long borrowing time.

That’s it for the introduction on how to use credit cards for the longest time.