For China Merchants Bank credit cards, late payment fees and interest will be charged if the minimum payment of the bill is not paid in time before the payment due date. Interest will be charged on all consumption in the current period starting from the recording date (usually the second day after consumption), with a daily interest rate of 0.05% until all is paid off. The late payment fee is 5% of the unpaid portion of the minimum repayment amount, with a minimum charge of RMB10 yuan or USD1 yuan.

If the cardholder cannot repay it all at once, he can pay the minimum payment amount on time before the final payment date. This will not affect his personal credit, but he will not be able to enjoy the interest-free repayment period. All consumption in the current period will be from Interest will be accrued on the accounting day, and the daily interest rate will be 0.05%.