China Merchants Bank credit card charges interest at a daily rate of 0.5 ‰, with compound interest on a monthly basis.
The interest of China Merchants Credit Card starts from the day of payment, and the daily interest is five ten thousandths. The interest-bearing days are from the bookkeeping date of each account to the repayment date of the account, and the daily interest rate is five ten thousandths. There will be interest if it is overdue, and there will be no interest if it is repaid on time. Take the principal 10000 yuan for 30 days a month as an example, the interest calculation formula of 10000 yuan is as follows: 100000.05% 30 days = 150 yuan, a total of 150 yuan for one month, and the average daily 5 yuan. Repayment after credit card consumption of China Merchants Bank. As long as the user repays in full before the final repayment date shown in the bill, the user's credit card consumption will not generate interest.
According to the relevant regulations, if China Merchants Bank fails to return the minimum repayment amount of the bill in time before the due repayment date, it will charge late fees and interest, and it will affect the customer's personal credit. The overdue fine is 5% of the unpaid minimum amount, and the minimum amount is RMB 10 yuan or USD 1 yuan. Interest means that all consumption in the current period is charged from the bookkeeping date (usually the day after consumption), and the daily interest rate is five ten thousandths until it is fully paid off. In order to avoid affecting personal credit, it is recommended to repay on time.
1. If the credit card of China Merchants Bank is inconvenient for full repayment, at least part of the minimum repayment amount can be paid off on time. Minimum repayment amount of credit card =65438+ 00% of all general transactions in the credit card account+100% of all outstanding installment transactions in the account+100% of the unpaid part of the minimum repayment amount in the previous period+100% of all the funds used in excess of the credit limit of the account.
2. If you can't pay off in one lump sum, you can pay off the minimum repayment amount on time before the final repayment date, without affecting your personal credit, but you can't enjoy the interest-free repayment period. All consumption in the current period will bear interest from the bookkeeping date, with a daily interest rate of five ten thousandths. (If you repay in full and on time, you can enjoy an interest-free period for credit card spending) If you don't repay, your credit will be affected and interest will be charged.
3, China Merchants Bank credit card withdrawal fee collection rules are:
1) A handling fee of 1% is charged for each cash withdrawal in China, with a minimum of 10 yuan for each cash withdrawal;
2) A handling fee of 3% is charged for each overseas cash withdrawal, with a minimum of 30 yuan RMB or US$ 3 per transaction;
3) The interest on cash withdrawal shall be collected on a daily basis, with a daily interest rate of five ten thousandths.
If you use China Merchants Bank's credit card to withdraw 10000 yuan, the daily interest rate is 0.05%, and the daily interest rate is 100000.05% = 5 yuan.
How much is the credit card interest of China Merchants Bank?
The credit card interest of China Merchants Bank is charged at the daily interest rate of 0.5 ‰. Interest = five ten thousandths of a day. There are two situations that will generate credit card revolving interest:
① When spending by credit card: repay in full and on time, and no interest will be generated. Insufficient repayment will generate cyclic interest, and all the consumption of the bill in the current month will not enjoy interest-free, so interest will be calculated.
② Cash withdrawal: there is no interest-free period, counting from the date of cash withdrawal until it is paid off.
How much is the interest of China Merchants Credit Card 33000?
The installment interest of China Merchants Bank's credit card is 0.75% per month, and the interest for half a year or one year is lower. For example, the monthly interest rate of 10000 yuan is 75 yuan, the monthly interest rate of 33000 yuan is calculated at 0.7% per month, the monthly interest rate is 23 1 yuan, and the annual interest rate is 2772 yuan.
How to calculate the interest of China Merchants Credit Card?
Credit card interest is generally determined by the way of use. At present, there are three main types of credit card interest of China Merchants Bank:
1. Withdrawal interest: the interest on the withdrawal date is 0.05%. For example, if you take 3000 yuan and calculate the interest from the date of withdrawal, the daily interest is 3000×0.05%= 1.5 yuan.
2. Minimum repayment interest: According to national regulations, the daily minimum repayment interest is 0.05%. For example, if you spend 3000 yuan, the minimum repayment amount is generally 10%, your minimum repayment amount is 3000× 10% = 300 yuan, the minimum repayment amount is 300 yuan, and the daily interest is (3000-300)×0.05% = 0.
3. Credit card consumption interest: normal repayment will not charge interest, but if the repayment is overdue, interest will be calculated from the time when the consumption is recorded, and there will be a late fee, so you must pay off the credit card in time to avoid personal financial pressure.
I. Interest-free period
It refers to the time period from the bank bookkeeping date to the due repayment date of consumer transactions, during which the cardholder repays all the payables and enjoys interest-free treatment before the due repayment date (inclusive). If the cardholder fails to repay in full in the current period, and the unpaid amount does not exceed RMB 10 yuan or USD 1 yuan, the consumer transaction that can enjoy interest-free treatment will not charge additional interest and liquidated damages.
The longest period of interest-free repayment is 50 days. Unless otherwise agreed between the card issuer and the applicant, the maximum period of interest-free repayment shall not exceed the maximum period required by relevant laws and regulations.
Second, revolving credit.
Revolving credit is a small unsecured loan with daily interest. Cardholders can decide the repayment amount according to their own financial situation before the current credit card bill expires. When the cardholder's repayment amount is equal to or higher than the minimum repayment amount of the current bill, but lower than the current repayment amount, the remaining deferred repayment amount is the revolving credit balance.
If you choose to use revolving credit, you will not enjoy the interest-free repayment period in the current period.
Third, revolving interest.
From June 2065438 to February 2009, the minimum repayment ratio of consumer transactions was adjusted from 10% to 5%.
For example, the cardholder's billing date is the 7th of each month, and he spent 2000 yuan by swiping his card in April 1, and this consumption was recorded on April 2nd. On April 7th, the bill will show that the "payable amount in this period" is 2000 yuan, and the "minimum repayment amount" is 100 yuan.
If the cardholder only repays RMB 65,438+000 on April 25th, the interest payable by that date will be shown on the bill on May 7th, that is, the interest of RMB 2,000 revolving credit principal for 23 days and the interest of RMB 65,438+0900 remaining after repayment of RMB 65,438+03 days:
2,000 yuan× 0.05 %× 23 days (April 2-April 24)+1900 yuan× 0.05 %×13 days (April 25-May 7) =23 yuan+12.35 yuan =35.35 yuan.
For example, if you swipe your card 1000 yuan on the 22nd of this month, then the minimum repayment amount this month is only 10% of the swiped card amount, that is, 100 yuan, which will be paid off before the 22nd of next month. If you don't swipe your card, the circulating interest will increase to (30+21) 0.05%1000 = 25.5 yuan, and the bill amount will become 925.5 yuan, and the minimum repayment amount will be 90+25.5 =1kloc-0.
In which 90 yuan is 900 10%, and 25.5 yuan is revolving interest. If the credit card of China Merchants Bank fails to repay in full on schedule, interest will be charged in full according to the consumption amount from the date of swiping the card, with the interest rate of 0.05% per day and about 18% for the whole year.
How to calculate the credit card interest of China Merchants Bank?
As of February 23, 20 19, according to the new regulations, the minimum repayment ratio of China Merchants Bank's credit card consumption transactions was adjusted from 18% to 5% in the bills of June and after 20 19, and the calculation method of cyclic interest is as follows (the following example is based on the new minimum repayment standard, and the cyclic interest is calculated according to the actual bill.
The cardholder's bill date is 22nd of each month. On April 4th, the cardholder used his credit card to spend 1700 yuan. On April 5, this consumption was recorded. On April 22nd, the bill will show that the "payable amount in this period" is 1700 yuan, and the "minimum repayment amount" is 85 yuan.
If the cardholder only repays RMB 65,438+0,000 on the due repayment date on May 5, the interest payable by that date will be shown on the bill on May 22, that is, the revolving credit principal of RMB 65,438+0, the interest of 700 yuan for 65,438+0.7 days and the interest of the remaining 700 yuan principal after repayment of RMB 65,438+0.3 days:
1700 yuan ×0.05%× 17 days (April 5-April 2 1) +700 yuan ×0.05%× 13 days (May10-May 22) =/kloc.
Extended data:
I. Interest-free period
It refers to the time period from the bank bookkeeping date to the due repayment date of consumer transactions, during which the cardholder repays all the payables and enjoys interest-free treatment before the due repayment date (inclusive). If the cardholder fails to repay in full in the current period, and the unpaid amount does not exceed RMB 10 yuan or USD 1 yuan, the consumer transaction that can enjoy interest-free treatment will not charge additional interest and liquidated damages.
The longest period of interest-free repayment is 50 days. Unless otherwise agreed between the card issuer and the applicant, the maximum period of interest-free repayment shall not exceed the maximum period required by relevant laws and regulations.
Second, revolving credit.
Revolving credit is a small unsecured loan with daily interest. Cardholders can decide the repayment amount according to their own financial situation before the current credit card bill expires. When the cardholder's repayment amount is equal to or higher than the minimum repayment amount of the current bill, but lower than the current repayment amount, the remaining deferred repayment amount is the revolving credit balance.
If you choose to use revolving credit, you will not enjoy the interest-free repayment period in the current period.
Third, revolving interest.
From June 2065438 to February 2009, the minimum repayment ratio of consumer transactions was adjusted from 10% to 5%.
For example, the cardholder's billing date is the 7th of each month, and he spent 2000 yuan by swiping his card in April 1, and this consumption was recorded on April 2nd. On April 7th, the bill will show that the "payable amount in this period" is 2000 yuan, and the "minimum repayment amount" is 100 yuan.
If the cardholder only repays RMB 65,438+000 on April 25th, the interest payable by that date will be shown on the bill on May 7th, that is, the interest of RMB 2,000 revolving credit principal for 23 days and the interest of RMB 65,438+0900 remaining after repayment of RMB 65,438+03 days:
2,000 yuan× 0.05 %× 23 days (April 2-April 24)+1900 yuan× 0.05 %×13 days (April 25-May 7) =23 yuan+12.35 yuan =35.35 yuan.
Note: The above example is based on the new minimum repayment standard, and the revolving interest is subject to the actual bill.
China Merchants Bank official website-Frequently Asked Questions on Credit Cards
How to calculate the interest of China Merchants Bank's credit card withdrawal?
For China Merchants Bank credit cards, the interest on cash withdrawal is calculated according to 1500 yuan, because the cash withdrawal amount does not enjoy the interest-free period. For example, if you withdraw 1500 yuan cash from a credit card and repay it after 30 days, the handling fee is 1% = 15 yuan, the interest is 1500030 (days), 0.05%=22.5 yuan, and the total principal and interest is 65.5 yuan. In addition, your consumption amount of 8000 yuan enjoys an interest-free period.
China Merchants Bank will charge you a cash withdrawal fee and interest. China Merchants Bank's credit card withdrawal interest and handling fee are as follows:
1, credit card withdrawal interest of China Merchants Bank:
Withdrawal cannot be free of interest. From the date of withdrawal to the date of settlement, interest will be charged at the daily interest rate of 0.5 ‰, compounded monthly, and the handling fee will be charged according to the credit card charging standard of China Merchants Bank.
2. Credit card withdrawal fee of China Merchants Bank:
For domestic RMB cash withdrawal, the handling fee is calculated at 1% of each advance cash amount, with a minimum of 10 yuan; For cash withdrawal from overseas (including Hong Kong, Macao and Taiwan), the handling fee is calculated at 3% of each cash advance, and the minimum charge is 30 yuan RMB or US$ 3 for each cash advance.
Extended data
Credit card installment repayment of China Merchants Bank:
1, which provides cardholders with personalized choices of 1, 2, 3, 6, 10, 12, 18, 24, 36, and the single-period handling fee rate is 0% ~1.
2. If you apply for installment repayment after successfully handling the bill installment, the principal and handling fee of each installment shall be included in the RMB account of the cardholder's credit card. If you apply for deferred repayment, the due principal and the total handling fee will be included in the RMB account of the cardholder's credit card.
3. If you apply for repayment by installments, the principal payable for each installment = application amount ÷ number of installments. The principal payable for each installment (accurate to the minute) is credited to the cardholder's credit card RMB account every month, and the balance is credited to the last installment. Handling fee per period = application amount × handling fee rate per period. When applying for deferred repayment, the due principal = the applied amount, and the total handling fee = the applied amount × the total handling fee rate. Once the handling fee is collected, it will not be refunded.
References:
How much is the interest of China Merchants Bank-China Merchants Bank's credit card withdrawal?
References:
China merchants bank-credit card bill installment
Let's stop here about the interest rate introduction of China Merchants Bank's credit card.