According to the relevant regulations, after the credit card is overdue, it not only needs to pay high penalty interest, but also pay a certain amount of liquidated damages. Many people don't know much about the liquidated damages of credit card, so how to calculate the liquidated damages of credit card? What's the charging standard of the liquidated damages of credit card? Let's take you to know.
How to calculate the penalty of bank credit card
The overdue penalty of credit card refers to the default amount to be paid by the cardholder when the actual repayment amount on the due repayment date of the credit card is lower than the minimum repayment amount.
How to calculate the penalty of credit card? In view of the overdue behavior of credit card users, the card issuing institution and the cardholder should agree on whether to collect the penalty, and the relevant collection methods and standards, but the charging standard of penalty of major banks is less than 5% of the minimum repayment.
Collection standard of liquidated damages for major credit cards
1. Huaxia Bank: 5% of the minimum outstanding amount, up to RMB 2000 or US $250.
2. Agricultural Bank of China: 5% of the outstanding part of the minimum repayment amount, at least 1 RMB / 1 US dollar / 1 euro / 1 Australian dollar / 1 pound / 10 yen.
3. Industrial and Commercial Bank of China: 5% of the minimum outstanding amount, with a maximum of 500 RMB or 500 Hong Kong dollars or 500 Macao dollars or 100 US dollars or 100 euros per issue.
4. China Merchants Bank: 5% of the minimum amount outstanding, at least 10 yuan or 1 US dollar.
5. China CITIC Bank: 5% of the minimum outstanding amount, and the minimum charge is RMB 20 or USD 2 or HK $20 or EUR 2. Generally speaking, if the credit card still has a large amount of outstanding debts, it is very high to pay the overdue penalty of the credit card. It is suggested that we should not easily make overdue behavior. At the same time, when using the credit card in daily life, we should act according to our ability and not blindly swipe the card.