"Minimum repayment amount" includes a certain proportion of accumulated outstanding overdraft consumption principal and related overdraft interest in the current period, as well as the sum of cash principal borrowed in advance in the current period, expenses incurred in the current period, liquidated damages and the unpaid part of the minimum repayment amount in the previous bill. ?
The card issuer provides the cardholder with a monthly statement, which lists the transaction details, the total amount to be repaid, the minimum repayment amount, the due repayment date and other information recorded from the next day of the previous billing date to the current billing date (inclusive). ?
Extended data:
Relevant clauses in the Credit Card Articles of Association of Guangfa Bank:
Credit card holders make non-cash transactions, and the interest-free repayment period is from the bank bookkeeping date to the due repayment date (inclusive). According to credit card products, the longest interest-free repayment period is 50 days to 56 days.
If the cardholder pays off all the debts listed in the transaction bill before the due repayment date (inclusive), there is no need to pay overdraft interest except for cash advance transactions; When the cardholder chooses the minimum repayment method, he will no longer enjoy the interest-free repayment period.
The card issuer shall calculate overdraft interest according to the overdraft interest rate from the transaction bookkeeping date and compound interest on a monthly basis. Compound interest will be collected from all debts, such as principal, interest, and fees allowed for compound interest according to law, and there is a minimum charge limit until all debts are paid off. The interest rate shall be subject to the relevant regulations of the People's Bank of China.
China Guangfa Bank-Beginner's Guide-Credit Card Accounting and Billing
China Guangfa Bank-Credit Card Articles of Association of China Guangfa Bank