Many card friends are unable to repay in full after spending too much on credit cards on Double Eleven and Double Twelve, so they want to repay according to the minimum repayment amount, but they don't know how much to pay back every month. For example, some netizens said that their credit cards cost 5, yuan, and they want to know the minimum repayment amount every month. Let's introduce you to the related matters of credit card repayment according to the minimum repayment amount. how much is the minimum monthly credit card charge of 5? Under normal circumstances, the minimum monthly credit card payment is mainly based on the minimum repayment amount listed in the bill. Of course, before the bill is issued for the credit card, you can also calculate the specific repayment amount by yourself through the calculation formula of the minimum repayment amount.

calculation formula: the minimum repayment amount =1% of all general transactions in the credit card account+1% of all outstanding installment transactions in the account+1% of the outstanding portion of the minimum repayment amount in the previous period+1% of all funds used in excess of the credit limit of the account+1% of expenses+1% of interest.

For example, suppose the cardholder's billing date is 7th of each month, and the due repayment date is 25th of each month. On November 1st, the cardholder will spend 5, yuan by swiping the card, and it will be credited on November 2nd. If there are no outstanding transactions, the bill on November 7th will show that the minimum repayment amount is 5 yuan, that is, it is not overdue to repay 5 yuan only on November 25th. However, the remaining unpaid amount will bear interest at the daily interest rate of .5 ‰, and will be compounded monthly. When the bill is paid on December 7, so much interest will be paid: 5, yuan ××23 days (November 2-November 24)+4,5 yuan ××13 days (November 25-December 7) =23 yuan+yuan = yuan. The above is the introduction of "how much is the minimum monthly credit card charge of 5". In a word, it is not cost-effective to repay by credit card according to the minimum repayment amount. If you really can't repay in full, you can consider handling credit card installment, which will not only reduce the repayment pressure, but also lower the handling fee.