The daily interest of a credit card refers to the daily overdraft interest, and 0.05 is the overdraft interest rate. When credit card holders withdraw cash or outstanding loans according to the time limit agreed by the issuing bank, overdraft interest will be generated. Interest is calculated from the next day, and the longer the overdue period, the higher the interest rate.

If you spend 1 0,000 yuan, you will repay it in time after 30 days, resulting in interest 1 0,000 * 0.0005 * 30 = 1 5 yuan and 5% of the minimum outstanding amount, that is,10,000 * 0.05 = 50 yuan.

Extended data:

The longest overdraft period of a credit card is 60 days. Credit card overdraft interest shall be charged at the rate of five ten thousandths of daily interest within 15 days from the signing date or the bank billing date (inclusive), and at the rate of five ten thousandths of daily interest after 15 days, and at the rate of fifteen thousandths of daily interest if the overdraft amount exceeds the prescribed limit for more than 30 days. The overdraft interest is not divided into sections, and the interest is calculated according to the highest interest rate grade or the highest overdraft amount.

If the cardholder uses the supplementary card of the personal card to overdraw, the main cardholder shall be responsible for repaying the overdraft amount and paying overdraft interest; If the cardholder of the main card loses the repayment ability, the cardholder of its subsidiary card shall be responsible for repaying the overdraft amount and paying the overdraft interest.

Baidu encyclopedia-credit card overdraft