The due repayment date is also called the final repayment date. If you don't repay in full before the due repayment date and you don't choose the minimum repayment amount by credit card, then you may face the following penalties:
1. All consumption funds no longer enjoy the interest-free repayment treatment, and the bank will calculate the interest on a daily basis with the consumption amount as the principal, with a daily interest rate of five ten thousandths and compound interest on a monthly basis;
2. Receiving a call and a letter from the bank;
3. Freeze your account and feed back your arrears record to the People's Bank of China and record it in your credit file, which will affect your personal credit;
if you really don't have enough money to repay in full on the due repayment date, please choose the minimum repayment amount by credit card, and only 1% of the total expenses will be repaid in this way, so that although there is no interest-free repayment period, personal credit will be avoided.
The domestic credit card repayment period is calculated according to the billing date and consumption date of your credit card, and it is not fixed. The bank will tell you when the card is issued, and each bill will have a bill date. The repayment period varies from bank to bank, generally speaking, it is 18 days to 25 days after the billing date, of which the shortest is 18 days for China Merchants Bank and the longest is 25 days for Industrial and Commercial Bank of China. The period from the date when you use your credit card to the billing date plus the repayment period mentioned above is the date when you enjoy interest-free repayment.
according to this calculation method, you can enjoy the longest interest-free repayment on the day after the billing date, and the interest-free repayment period is the shortest on the day before the billing date. Generally speaking, the interest-free repayment period of credit cards is about 2 days to 5 days. For example, if your billing date is 12th, the date when you use your credit card for spending is 11th, and the interest-free repayment period stipulated by your card-issuing bank is within 2 days after the billing date, then your repayment is only 2 days. If the date of your credit card consumption is 13th, the consumption will enter the next bill, and your bill will not be generated until 12th of next month, so you have a 5-day interest-free repayment period, that is, 3 days from 13th of credit card consumption to 12th of next month plus 2 days after bill generation.