by on August 10, 2022
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Introduction: Now there are many people are carrying out the use of bank credit cards, since it is borrowing as well as consumption will of course produce with a certain interest cost costs, borrowing and interest is not結餘轉戶信貸評級 timely repayment will lead to our credit card overdue, that credit card borrowing interest how to calculate, overdue will be fine? For China this social problem analysis below to find the law network to answer your questions, I hope we can help you to develop.
A. How to calculate the interest on credit card loans
Credit card itself can not be loaned, but you can withdraw cash and handle installment payments, installment payments are similar to loans, installment payments do not charge interest, but charge fees.
The installment fee depends on your rate, the number of installments and the installment amount. If the credit card is divided into 10 installments of 10,000 yuan and the service fee rate is 0.5%, the monthly service fee is 10,000 * 0.5% = 50 and the actual monthly repayment is 1000 + 50 = 1050.
Credit card withdrawals cannot be made in installments, and there is a credit limit, and fees and interest are charged.
Please consult the issuing bank for details.
Second, whether there is a penalty for overdue credit card
Credit card business overdue repayment, generally to the total amount of the current period for the calculation of corporate interest, interest is relatively high, which is not called a fine, but for late non-payment will be subject to certain penalties management measures for students.
How to calculate the interest on credit card loans, overdue will be fined
What happens when a credit card is overdue
1. Late payment fees on credit cards are mandatory. The cardholder should pay the handling fee to the card issuer as required when the payment is not made before (and including) the due date or the payment amount is less than the minimum payment amount.
2. Users can use to carry out credit card consumption overdraft themselves later, generally have more than 20 days to more than 50 days of interest-free repayment period, if the cardholder is required to repay the enterprise overdue, then the cardholder last month all the management fees are no longer able to enjoy the interest-free treatment of the Bank of China, and the revolving daily interest rate of up to five ten thousandths, that is, the annual interest rate may reach 18%.
3. Credit card overdue payment record into the central bank credit system, resulting in a bad credit record.
4. If the use of credit cards for more than 3 months without repayment, the bank will ask the lawyer to the user can issue a lawyer's letter, and to the people's court by filing an administrative lawsuit, the cost of litigation will be borne by the cardholder.

Related article reading:
The process of applying for a loan with a credit card business
The specific steps of the credit card loan method are as follows
What is the interest rate for credit card loans

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