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China Merchants Bank Credit Card Overdue Repayment Interest

Time: 2016-10-31         Source: Unknown         Author: Li Yong

Merchants Bankcredit cardThe late payment fee is 5% of the minimum repayment amount, and the minimum fee is RMB 10 or US$1. Interest is the total consumption of the current period from the billing date (usually the second day after consumption), five days per day, until you are fully paid off.

In order to avoid affecting personal credit, it is recommended that you pay back on time. If it is not convenient to pay off the bill in full, please pay back the minimum amount of the payment at least on time.

For example, if you pay the bill on the 10th, the repayment date on the 28th. You spend 24300 on the 1st, and the 24300 starts to calculate the interest on the 2nd: the daily interest is 24300*0.0005, then you still have 24000 on the 27th, then the 300th interest rate starts from the 27th. Until you are still 300. For example, if you are 300 on the 5th of next month, then your interest rate is: 24300*0.0005*26+300*0.0005*8 Anyway, it is not worthwhile.

As long as the deadline is not returned, no matter whether it is overdue for one day or one month, a bad record will be generated. If it is overdue for one month, it will be counted as one.

The future impact is: If there are more than 3 bad records in 12 months (overdue 3 months), China Merchants Bank can stop or stop payment at any time, freeze your card, and synchronize bad records to the pedestrians. Bank credit card, car loan,MortgageWait, it may be rejected.

The direct impacts are as follows: 1) After the overdue payment, the late payment fee will be incurred. The late payment amount is the minimum repayment amount of 5% and the lowest price is 5 yuan. For the full amount of 2,000 yuan, the minimum repayment amount is generally the full amount. 10% is 200 yuan, then the late payment fee is 200 × 5% = 10 yuan. 2) In addition to late payment, there is also cyclic interest, and the cyclic interest is equivalent.Annual interest rate18%, with a lapse of 2,000 yuan, the next period will be outside the principal, generating interest of around 35 yuan. Therefore, at least the minimum repayment amount will be sufficient (the bill will be listed, generally 10% is about 200 yuan), as long as the minimum repayment amount is enough, there will be no bad record.

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