The minimum repayment amount of China Merchants Bank's credit card refers to the minimum monthly repayment amount of the credit card, which is displayed on the current month's bill of the credit card, and is generally 30% of the total repayment amount of the current bill. If it is difficult to pay off all debts at one time, you can repay the minimum repayment amount on time before the final repayment date, without affecting your personal credit, but you cannot enjoy the interest-free repayment period. After the minimum repayment of China Merchants Bank's credit card, interest will be charged on all current consumption from the billing date, that is, interest will be charged from the cardholder's consumption date, with a daily interest rate of five ten thousandths until it is paid off.
For example:
If your bill date is 5th of each month, the due repayment date is 23rd of each month;
The current bill printed by the bank for you on April 5, including all your trading accounts from March 5 to April 5;
Suppose you have only one consumption in the current bill, the consumption amount is RMB 1 000, and the time required by the merchant is March 30th; The "payable amount in this period" printed on your current bill is 1 1,000 yuan, and the "minimum repayment amount" is 1 1,000 yuan;
In different situations, your revolving interest is:
① If all the RMB 65,438+0,000 is paid off before April 23rd, the circulating interest in the statement on May 5th is 0;
② If only the minimum repayment amount is 65,438+000 yuan on April 23rd, the cyclic interest on the statement on May 5th is 65,438+07.85 yuan, and the specific calculation is as follows: 65,438+0,000× 0.05 %× 24 days (from March 30th to April 22nd)+(654,300).