Due date of credit card repayment: refers to the latest date when the credit card issuing bank requires the cardholder to repay the payable amount. In other words, after the issuing bank issues the bill, you should pay off all the expenses you have consumed before the due repayment date.

In fact, the due repayment date is the last day of the interest-free repayment period. Before this, the repayment is interest-free, and interest and late fees will be charged if it is overdue. For each bank, the interest-free repayment period is different. For example, for Bank of Communications credit card, the billing date is 10 every month, and the due date of the statement is 10 May 20th18th, and the repayment date is June 4th.

Attention problem

The due repayment date is also called the final repayment date. If you don't pay in full before the due repayment date, and you don't choose the minimum repayment amount of the credit card, you may face the following penalties:

1. All consumption funds will no longer enjoy interest-free repayment, and the bank will calculate interest on a daily basis with the consumption amount as the principal from the date of consumption, with a daily interest rate of 0.5 ‰ and compound interest on a monthly basis;

2. Receive phone calls and letters from banks;

3. Freeze your account, feed back your arrears record to the People's Bank of China and record it in your credit file, which will affect your personal credit;

Extended data:

Difference between credit card billing date and repayment date:

For credit card users, distinguishing the billing date and repayment date can not only make consumption more convenient, but also help to maximize the interest-free period.

Credit card billing date means that the issuing bank will regularly summarize and settle all the transactions and expenses of your credit card account in the current period every month, calculate the total amount owed and the minimum repayment amount in the current period, and mail the statement for you. This date is the accounting date. The repayment date refers to the latest date when the credit card issuing bank requires the cardholder to repay the amount payable.

Simply put, the bank will make a bill for your current repayment and inform you that the bill formation date is the billing date. At the same time, the bank will not ask you to repay immediately, but will give you a buffer period, usually 20 days (according to the standards set by the bank), and the deadline of this period is the repayment due date. You can enjoy interest-free treatment if you repay in full within 20 days or choose the minimum repayment amount of a credit card, but interest will accrue if it is overdue.

As shown in the figure, if the 5th of each month is the billing date and the 25th is the repayment date. Then the consumption before the 5 th will be included in this month's bill, and the bank will usually inform you on the bill date. Interest-free repayment can be enjoyed before 25th of the month, and interest will be accrued after 25th. At the same time, it should be noted that the consumption between the billing date of this month and the billing date of next month (that is, the time period A-C in the figure) is included in the next month's bill, and the repayment due date is the 25th of next month, and so on.

References:

Credit card due repayment date-Baidu Encyclopedia