If you are using a China Merchants Bank credit card and fail to repay the minimum payment on your bill in time before the payment due date, late payment fees and interest will be charged, and your personal credit will be affected. 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. 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 you pay it off in full.

The minimum repayment amount for each installment is calculated as follows:

The minimum repayment amount = 10 for all general transactions in the credit card account 100 for the single-period amount of all outstanding installment transactions in the account 100 The unpaid portion of the minimum repayment amount of the previous period is 100, and the total amount used in excess of the account credit limit is 100 fees and 100 interest. (Subject to querying your billing information)