What does it mean that credit cards generally have a minimum repayment amount?

The minimum repayment amount means that if the cardholder has difficulty in repaying all the payables before the due repayment date (inclusive), he will repay according to the minimum repayment amount stipulated by the issuing bank, but he cannot enjoy the interest-free repayment period. The minimum repayment amount is 65438+ 00% of the consumption amount plus other payables. The minimum repayment amount is listed on the current bill.

Overdraft 1 000 yuan, minimum repayment amount 1 000 yuan. If it's only 65,438+0,000 yuan, and there is interest on the billing date next month, and the interest is five ten thousandths of the billing date, then at least 9000+9000 * 0.0005 * 30 = 9135 yuan will be paid next month. Don't pay the minimum repayment amount when the economy is not difficult, it will pay a lot of interest.

Extended data

The minimum repayment amount is also called the minimum repayment amount. If it is difficult for customers to repay in full, they can repay according to the minimum repayment amount stipulated by the issuing bank, which is generally 10% of the consumption amount plus other payables, but they cannot enjoy the interest-free period. The minimum repayment amount will be indicated on the current bills of mobile banking and online banking. If only the minimum repayment amount is paid, there will be some liquidated damages, generally 5% of the unpaid part of the minimum repayment amount, and overdraft interest will also be paid, generally five ten thousandths of the overdraft amount, with daily interest and rolling interest. Therefore, credit card repayment should be cautious before the minimum repayment amount.

References:

Baidu Encyclopedia _ Credit Card