Suppose that a credit card holder has not paid in advance, the billing date of each month is 20th, and the repayment due date of the next month is 10. It spent a total of 10000 yuan on 12+00, so in the statement of 12+20, the cardholder's "payable amount in this period" is 10000 yuan, and the "minimum repayment amount" is10000 yuan. If the cardholder chooses to use the minimum repayment method by self-service "installment", he will repay the minimum repayment amount 10/0 on June 5438+ 10.

Then, according to the bank's current minimum repayment interest method, the cardholder's circulating interest on the statement of 65438+1October 20th is: 10000 yuan ×0.05%×3 1 day (65438+February 10 to 65438.

If you want to calculate the interest for one year and multiply it by 12 months, you can see that the interest is very high, and the annualized interest rate is as high as 18%.