CITIC Bank credit card revolving interest calculation method

1. If the cardholder has non-cash transactions and repays the entire amount within the interest-free repayment period, there is no need to pay interest on the non-cash transactions. . Otherwise, the entire overdraft amount should be paid, and the recurring interest from the accounting date to the repayment date will be calculated at a daily interest rate of 0.05%, and compound interest will be calculated on a monthly basis.

2. When cardholders use CITIC Bank credit cards to withdraw cash, they must pay handling fees and do not enjoy the interest-free repayment period. Interest will be calculated at a rate of 50,000 per day starting from the bank accounting date until the date of repayment, and compound interest will be calculated on a monthly basis.

Example 1:

Ms. Li’s payment date is the 1st of each month, and the due date for repayment is the 20th of each month. In Ms. Li's bill on April 1, there was only one consumption of 1,000 yuan, and the accounting date was March 15. The total amount owed on this period's bill is 1,000 yuan, the minimum repayment amount is 50 yuan, and the repayment date is April 20.

Assume that Ms. Li repaid 1,000 yuan on April 20. Since it was paid off in full before the repayment date, no interest accrued on the bill on May 1.

If Ms. Li only repaid 50 yuan on April 20, the interest on the bill on May 1st would be: 23.7 yuan.

Billing procedure: Interest = 1000*36 days (March 15-April 19)*0.05%+(1000-50)*12 days (April 20-May 1) *0.05%=23.7

Example 2:

Ms. Li’s payment date is the 1st of each month, and the due date for repayment is the 20th of each month. If Ms. Li withdraws 1,000 yuan on March 10, and the cash withdrawal fee is 20 yuan, then the cash interest on the April 1 bill will be: 11.73 yuan.

Calculation: Cash interest = (10020)*23 days (March 10-April 1)*0.05%=11.73 yuan