The interest charges incurred by credit cards need to be judged based on the specific usage.
1. If you borrow money through a credit card, transfer it to your personal debit card account
Cash withdrawals from credit card borrowings will generally be charged at a daily interest rate of 0.05% starting from the date the loan is entered into the account. Interest charges, and then a one-time handling fee of 1%-2% of the borrowed amount.
Suppose you borrow 10,000 yuan from a credit card and the interest is 150 yuan if you borrow for 30 days, and you need to pay a handling fee of 100 yuan to 200 yuan.
2. If you use the credit card normally and make daily purchases with the credit card
In daily life, you use the credit card limit for credit card purchases and repay it on time when it is due. Generally, there will be no Interest Expenses.
3. If you make the minimum repayment on your credit card and make the minimum repayment in installments
If you make the minimum repayment on your credit card in installments, there will be relevant handling fees.
Usually the minimum repayment amount is 10% of the credit card bill amount, and the minimum repayment fee is charged at 0.05% of the outstanding amount. If the current outstanding amount is 10,000 yuan, you need to pay 5 yuan. handling fee.
In the case of credit card installment, the bank will charge different proportions of handling fees according to the number of installments. Different banks have different handling fee regulations. For example, the Agricultural Bank of China credit card installment will charge a monthly handling fee of 0.6%. If the installment amount is 20,000 yuan, a monthly handling fee of 120 yuan will be incurred.
4. If the credit card is overdue
A certain amount of penalty interest will be incurred if the credit card is overdue. Overdue interest will generally be charged at a rate of 0.05% of the overdue amount. Overdue interest = overdue amount *0.05%*Number of days past due. Assume that the credit card is overdue for 20,000 yuan and the number of overdue days is 10 days. The total overdue interest is 100 yuan.
The interest rate for borrowing money with a credit card is not very low. It is recommended that you withdraw the amount reasonably within your ability to afford it, repay it on time, and reduce the cost of using the credit card.