At present, the 5-day (or 56-day) interest-free period stipulated by various banks is not the same, so it is better for cardholders to have a good idea first. Among them, ICBC stipulates that this month's consumption will be interest-free until the 25th of next month. Assuming that the cardholder spent money on the 3th of last month, the interest-free period is 25 days as of the 25th of this month; If the cardholder spent money on the 1st of last month, the interest-free period is the longest 56 days; Each CMB credit card has a billing date, and the interest-free period = +18 days from the billing date. Assuming that 5th is the billing date of your credit card, the interest-free period for consumption on 3rd is from 3rd of this month to 23rd of that month, ***21 days; If it is consumed on the 6th, then from the 6th of this month to the 23rd of next month, 49 days are interest-free period; CITIC Industrial Bank also has a billing date every month, and the longest interest-free period is 56 days. There are also people who pay less back to .8 yuan, with interest of thousands of dollars.
at present, the overdraft interest of all banks is basically charged at five ten thousandths of the daily interest. However, there is a big difference in the specific calculation method. For example, at present, most banks stipulate that no matter how much the repayment person has paid on the due repayment date, as long as there is no full repayment, overdraft interest should be charged based on the full amount of consumption.
Different banks have different ways to calculate overdraft interest. For example, most banks such as CCB and ICBC stipulate that overdraft interest will be compounded monthly, but Agricultural Bank stipulates that overdraft interest will be charged monthly.
if the overdraft interest is calculated as 5, yuan, if the interest is calculated as compound interest, the interest of 1,125 yuan generated during the 45-day overdraft period will not be calculated in the second month; if the interest is calculated as compound interest, the interest will still be calculated as five ten thousandths of the daily interest in the second month, which is about to pay more interest in 17 yuan. The quasi-credit card collects single interest on a monthly basis, and the credit card compound interest on a monthly basis. The overdraft rate is five ten thousandths of the daily interest rate.