Family Life Knows Everything.

Chapter 243 Don't be superstitious about "interest-free" credit cards

The longest interest-free period of 50 days or 56 days cannot be adopted in any situation. If the cardholder is a little negligent, he may pay up to 18% annual interest and 5% late payment fee for the credit card.To this end, we have collected several major situations where you cannot enjoy the interest-free period, and remind cardholders to be more careful when swiping their cards.

1. Credit card withdrawals are not interest-free
At present, all banks charge credit card fees for cash withdrawals, and more importantly, if it is an overdraft withdrawal, there is no one-day interest-free period.In this way, the cardholder not only has to pay a handling fee of tens of yuan, but also pays an overdraft interest of 5 yuan per day.

2. Choose the "minimum repayment method" without interest-free period
Many cardholders will find that when they get the statement sent by the bank, there are generally two repayment methods on the statement: "full repayment" and "minimum repayment" for cardholders to choose. Generally, you only need to repay about 10% of the overdraft amount every month.However, this repayment method will not be able to get interest-free for each overdraft consumption in the future.Moreover, cardholders must repay according to the repayment amount on the bank statement, otherwise not only will they not be able to enjoy the interest-free period, but they will also have to pay late fees for the outstanding part.

3. "50-day interest-free period", the calculation method of each bank is different

At present, the calculation of the 50-day (or 56-day) interest-free period stipulated by various banks is not the same, and it is best for cardholders to know the bottom line.For example, ICBC stipulates that consumption from this month to the 25th of the next month is an interest-free period.Assuming that the cardholder consumes on the 30th of last month, the interest-free period is 25 days until the 25th of this month; if the cardholder consumes on the 1st of last month, the longest interest-free period is 56 days sky.

family life made easy

Cardholders need to be reminded that many banks such as China Merchants Bank and China Construction Bank have launched automatic repayment functions and SMS notification functions. Cardholders may wish to give it a try.In this way, as long as you choose to connect the account while applying for the card, and choose the full repayment method, and ensure that there are sufficient funds in the account when the deduction is made, the "card swiping" family can enjoy the interest-free treatment without worry.

(End of this chapter)