If all the consumption funds are paid off before the due repayment date of the current billing cycle, credit card consumption can enjoy an interest-free period and will not generate cyclic interest.
If all bills in the current period are not paid off on time, it will be regarded as using revolving credit. Interest will be charged on all consumption in the current period from the bookkeeping date (usually the day after consumption), and the daily interest rate will be 0.5 ‰ until it is fully paid off.
Cyclic interest = principal × five ten thousandths (interest) × days A (days from consumption date to current repayment date)+(paid principal) × five ten thousandths (interest) × days B (days from current repayment date to next billing date).
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Interest on revolving credit loans is calculated on a daily basis. According to your financial situation, you can decide the repayment amount by yourself before the current credit card bill expires every month.
All consumption in the current period will bear interest from the bookkeeping date, with a daily interest rate of five ten thousandths until it is fully paid off. If you use the cash advance function, you will not be able to enjoy the interest-free period of cash advance. Interest will be calculated from the date of your withdrawal, with a daily interest rate of 0.5 ‰, and compound interest will be calculated monthly until it is paid off.
In addition, the consumption amount of the last statement is the interest-bearing principal, and the interest-bearing days are from the account bookkeeping date to the account repayment date, and the daily interest rate is five ten thousandths. The interest on revolving credit will be listed in the next bill.
Baidu encyclopedia-revolving credit
Baidu encyclopedia-revolving credit interest rate