The annualized interest rate calculation method for credit cards is mainly based on the installment fee and the number of installments. The most common one is through the formula: annual interest rate = installment fee/(number of installments + 1) * 24. For example, for a 12-month handling fee of 7.2%, the annualized interest rate is 7.2/(12+1)*24=13.29%. The annualized interest rate corresponding to ICBC's 12-period 3.58% handling fee is 6.61%, which is equivalent to 1.1 times the benchmark interest rate. The calculation process is 0.0358/13*24=0.06609, or 6.61%. When collecting the first installment, it needs to be divided by 1 - installment fee, for example, the first installment is 0.0358/13*24/(1-0.0358)=0.06854, which is an annualized rate of 6.85%.

The annual interest rates of credit cards of different banks vary depending on the charging standards, collection method (installment or one-time), and installment type (consumption, bill, mall or physical installment). For specific values, you need to directly check the major banks Visit the official credit card website or call customer service for detailed information. Annualized percentage rate (APR) is the basic concept for credit card interest calculation, involving multiple types of APR. For example, the APR for purchases, advances, and income and expenditure transfers may be different, and there may even be punitive APR, that is, the interest rate will be increased when payment is overdue. Knowing these details can help you more accurately evaluate your credit card's fees and costs.