The calculation of the minimum credit card payment involves some key rules. First of all, if you only repay the minimum repayment amount, you will no longer enjoy the interest-free period, and interest will accumulate at a rate of 0.5% per day. The minimum repayment amount is usually 10% of your purchase amount plus any other unpaid bills, and this amount will be clearly listed on the bill. If your repayment is between the minimum payment and the full payment, the system defaults to the minimum payment having been made.

Interest is calculated from the day of consumption, and the daily interest is 0.5% until you pay it off in full. The specific interest calculation formula is: 10% of the consumption amount, 10% of the cash withdrawal amount, 100% of the minimum repayment amount outstanding in the previous period, 100% of the transaction amount exceeding the credit limit, and 100% of all fees and interest. Remember, interest accrues on a continuous basis and cannot be ignored.

In addition, card issuers have certain autonomy over credit card interest rate standards, interest-free periods, minimum repayment amounts and other terms, so you should read the contract terms carefully when applying. The way interest is calculated on credit card overdrafts and the treatment of overpayments also vary, so be sure to understand these details to avoid additional fees. Regarding the issue of late payment fees, it is generally considered that it does not apply to liability for breach of contract between equal parties, but it may be different in actual practice.

In general, understanding the calculation and related terms of the minimum repayment is crucial to properly planning your credit card repayments. Make sure that when using a credit card, you fully understand and make the best repayment decision based on your financial situation.