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Credit card repayment to Know


									Credit card repayment to Know
Credit card repayment to Know
Credit card has become more and more people's lives can not do without a
living tool, many card holders are familiar with several repayment methods, but some
new entrants, "army card" will be in front of the bill are new to
trance, but also do not know how to repay more convenient and cheaper.
To understand the first step to knowledge is the credit card payment on the bill read:
S credit card bill first step: to read on the bill
Using a credit card The first step is to understand the various data on the bill had its
hand. One of the "minimum payment" should be used with
caution, the "cash advance limit" more easily use other.
On the bill on the "current amount due" is a recent installment
due date to pay the amount, there will be a column next to the "minimum
payment" is usually 10% of the amount should also, some people will
mistakenly that this is the bank's "interest free" offer,
granted by "minimum payment" to return the results to be close
circle of interest.
"Minimum payment" is for those who are unable to prepare a
full repayment, once the minimum amount of repayment in accordance with, the use
of a credit card, "revolving credit", banks will account for all
the arrears from the date of collection interest, current will not be able to enjoy the
preferential interest-free repayment, daily interest is five ten thousandths, annualized
interest rate up to 18%! So less than a last resort, do not use the "minimum
On the bill and a "cash advance limit" project, was the bank is
authorized to take from the ATM machine is the limit, generally 50% of credit limit,
do not be silly, there is no free lunch, credit card check procedures are to be charged
fee, although some banks (such as Minsheng Bank) have begun waiving the fees,
withdrawals from the day, customers need to pay interest on a daily five ten
S credit card bill next step: to reckon interest-free period
There are four dates using a credit card to distinguish between: transaction date, bank
account days, bill date, due repayment date.
Trading Day: refers to the actual credit card customers spend, or transfer is to take a
date. Bank account Date: means the banking transactions on the books to date.
Commercial credit card information transmitted to the bank will take time,
consumption abroad usually have a certain time lag, so the bill in the trading day and
the accounting date will be different. Billing Date: means the bank each month with a
credit card transaction "reckoning" date. Payment Due Date:
This date must be in repayment, over this period, we should collect money owed on
the current interest and other related costs. Using these two techniques, reading credit
card statements are basically very easy.
Calculation of interest-free period (ICBC, CITIC, China Merchants Bank)
Interest-free provisions for calculating the various banks are not the same, the card
can be the best heart, the faithful have a first end, to avoid unnecessary accidents with
the card.
ICBC provides consumer to the next month on the 25th of this month interest free
period. Suppose cardholder spending 30 days last month, and that until 25th of this
month, interest-free period of 25 days; if the cardholder is the last month on the 1st of
consumption, the longest interest free period on 56 days; bank credit card then there is
a billing each day, interest-free period = +18 days from the date of billing. Suppose 5
is your credit card billing date, then the 3-day consumption, interest-free period on the
month 3 to month 23, a total of 21 days; if consumption in the 6th, then on the 6th of
this month to 23 next month, 49 days are all interest-free period;
CITIC Bank is also a monthly billing date, the longest interest-free period of 56 days.
In addition, cardholders need to remind friends that the current investment, China
Construction Bank and a number of banks have introduced an automatic repayment
feature and SMS notification, the cardholder may wish to try, so as long as the card
also choose to connect in the office account, and select full repayment, and to ensure
that charge when the account has sufficient funds, "credit card"
family who can sit back and relax and enjoy the interest-free treatment.
Safekeeping of credit card transaction slip
Credit card transaction slip is a record of your transaction, whether local or remote
card card, your transaction slip should be kept safely, on the one hand, the transaction
slip with the details of the bill for comparison, if there is a result of cross-bank or
regional bank debit card transactions to repeat such phenomena, with transaction slip
should promptly contact with the issuing bank; the other hand, do not arbitrarily
discard POS and ATM machines print out a single stream of transactions. Because
ATM withdrawals do not need check on the identity of the cardholder, as long as the
password correctly, you can withdraw the money; and ATM transactions for your
water bills online to print clearly on the record with your credit card number, expiry
date and amount of withdrawals and other information. Thrown away slip and bank
cards will also have an opportunity criminals, criminal negligence is very easy to use
to steal your information, credit card fraud.
In addition, once your credit card bill on controversial spending projects there, check
transaction slip can help you recall the case when consumption and reduce
unnecessary trouble.
The most simple and convenient credit card payment method
If you forget to worry about your credit card payment, to tell you a simple and more
convenient way is to deduct tax, as long as your card issuer to open a current account
and the issuing bank to open a bank authorized by the due repayment date
automatically deducted every month in withholding from the deposit, so you can
easily use to the full interest free period can be said once and for all, completely
forgot to worry about payment! However, please remember to leave some money in
accounts that banks deduct, if deposit is insufficient, but will have late fees and
liquidated damages, and removed to the bank on time payment of trouble.
If you would like to see the bill, confirmed the account after the payment is correct,
you can wait to bill, and then cash payment. Most banks in the bank card network
models can be the counter to pay, or telephone transfers, or wire transfer. (Wire
transfer: receiving bank credit card issuing bank to write the Department, account
numbers and payee names, according to the back of the bill prompted to fill in on it.
Transfer is also convenient to allocate a single state, we should remember that the
primary cardholder's name and ID numbers to your bank.
Another convenient way is through automatic teller machines (ATM) transfers, and no
matter what a bank with a card or automatic teller machines, can meet the cost of your
debit card account automatically to credit card accounts. At present the card-issuing
banks will be in the monthly statement of how to use ATM transfers, and payment
steps, so you can easily not only contributions, but also the choice of 24 hours most
convenient for you to complete the transfer. Easy and efficient.
If you move temporary or permanent taking a trip but too late to notify the
card-issuing banks to change the billing address, do not worry, because there are
many ways to solve. You can ask your friends and family to help you pay it, like your
mother, father, sister and so on. However, to tell them that payment must be paid
before the deadline to help you.
Approach to the billing error
Error on the bill or a consumer you do not recognize the accounts, if possible, include:
merchants of negligence, negligence banking operations, credit card be misused or
forged, or forgotten your own. You should be notified immediately by telephone or in
writing, the issuing bank, notice should include your name, account number, the
wrong type, date, amount and data evidence. Issuing bank will investigate an error
should be corrected; no errors, will also give you an explanation. During the
investigation, you do not have to pay the disputed amount. If the card was fraudulent
use of lost, as long as your card-issuing bank to complete loss reporting procedures
within the specified time, then the loss will burden all by the issuing bank. In case that
you forgot to have their own spending money and issuing banks access to required to
sign the bill, some card issuing banks will require you to pay the cost of this access to
sign the bill, the cost varies. So you may want to look back to see if this consumption
is not myself to forget, to be followed to investigate the issuing bank. After spending
so each time you sign the bill should be retained at least until next month when the
monthly statement to correctly checked and then be destroyed, which is very useful.
Credit Card Repayment Summary
Credit card payment methods are not only counter this by bank one of the following
seven credit card repayment summarizes the way, for your reference:
(1) directly to the repayment of bank branches counters; (2) repayment through his
line of agents, Guangdong Development Bank, CITIC Industrial Bank, Shenzhen
Development Bank, China Minsheng Bank can be achieved between the repayment of
any banks ; (3) online bank transfer payments, the Bank or other banks through online
bank transfer payments. Of course, other banks through online banking payments
generally requires a certain fee. Fee is cost-effective, but also taking into account the
trips to the outlets between the transportation and time; (4) associated with the debit
card charge is estimated that more people do so, because the main debit card which
has enough money would not worry about repayment of the. But over the long term
develop a habit: do not know what time should repayment; (5) payment transfer
money via online banking or payment transactions to some of the tools (such as
TenPay, Paypal, etc.) and through credit card cash withdrawals to the account, the
order to complete the payment, you can remove the fee (payment handling charge
mentioned are the exception). (6) telephone banking payments
(7) ATM Machine repayment
Tell you how to enjoy the interest-free credit card longest
Consumer can overdraft interest free credit card with good interest free period can be
up to 50 days, can be bad only 20 days, up to 20 days to 50 days interest-free period,
calculate that there are certain "doorway" of.
To a bank on March 20 sunrise bill, for example, interest-free repayment period of 20
days after this, that deadline is April 9. In the bill on the following day, March 21
consumer best buy credit card that day, because the consumer until April 20 and
included bills only. And so on, the last repayment date of May 9. Order to take full
advantage of the 50-day interest-free repayment period.
Consumption of foreign currency deposits and repayment of RMB 3 days in advance
Foreign travel or other use of the foreign currency credit card advances, the use of
RMB payment is the preferred number of card holders. But here we want to remind
card holders: please use the currency of RMB has at least 3 days in advance.
The dollar, many dollars of domestic banks into effect that day, but the dollar still has
need of RMB 3 to 5 days of recorded time, this way, the day before if you only due to
the repayment until your money credited into account, has been a free interest period,
then you have to repay the sum of interest and late fees, it would mean that very
Merchants, CITIC, Bank of China have provided, either RMB or U.S. dollars
repayment, repayment is effective immediately the yuan accounted for by the banks to
take responsibility for delay, but still there are banks there is a "take
foreign currency deposits and currency" hysteresis So, You better not catch
cards go in the final repayment.
Credit card minimum repayments practical conclusions
Credit card minimum payment Conclusion one: as long as we use the minimum
repayment will begin to accrue to full circle as the base interest payments the longer
we delay, the higher the interest. The second bill onwards compound interest, the
second payment the longer we delay, the calculation of compound interest, the longer
the time. In other words - the minimum repayment, the repayment longer we delay,
the higher the interest.
Credit card minimum payment Conclusion 2: Once you choose the minimum
repayment should be early as early repayment, so pay less interest, ideally in the bill
the day after the payment date (such interest at least, and not compound interest ).
A credit card minimum payment deduction: the repayment installment due date is the
full repayment can enjoy the treatment. The minimum repayment or part repayment
terms, not only can not be interest-free interest generated, it will lose more and more
Credit card minimum payment inference 2: Select the minimum repayment, in
addition to not pay the fee, 1-3% in interest and cash advance no essential difference -
the minimum repayment can be seen as pre-consumer After spending by cash (only to
avoid the cash advance handling fee).
Credit card minimum payment Conclusion 3: ability to repay a fraction of people, if
not remember, it is best to check. Rather more than a point (up to that point of excess
demand to invite some loss of interest, but also not much). Do not almost, almost, can
be more than a little interest.
No minimum repayment interest-free repayment period
"Minimum payment" is an option on the bank statement, and
this corresponds to "full repayment." Just pay the minimum
payment usually about 10% of advance amount. Suppose cardholder overdrafts
10,000 yuan, also 10% per month, greatly reducing the pressure on the
cardholder's repayment.
However, cardholders need to be reminded that, select the full repayment of the credit
cards as long as full payment on time can enjoy interest-free treatment, but choose the
lowest repayment of credit cards, overdraft in the future consumption of each will not
get interest-free. Moreover, the cardholder must not even think of course as they see
the minimum repayment amount, plus the interest due, the repayment amount is
increasing, so the cardholder must follow the banks of the bill in the amount to repay
Otherwise, do not enjoy interest-free period, but also for the repayment of part of the
payment is not a late fee of 5%.
Calculation of credit card late fees
Credit card late fees are calculated as follows: If you are due for payment on the
actual repayment amount less than the minimum payment, minimum payment is not
also part of the late fees to be paid. The percentage of overdue fine PBOC unified
regulations for the minimum amount is not yet part of the 5%. Credit card account
center minimum fee of RMB 10 yuan, U.S. dollar account minimum charge one U.S.
Use of credit card limit is in effect increase the cycle of your credit limit.
When you apply to the bank's credit card, the bank will give you a credit
limit, your card overdraft spending, the credit line will be less then you pay off the
loan on time, your credit limit will resume. If you use the card overdraft spending a
certain amount of money, but unwilling to pay off all interest-free period, you can
bank stated on the bill sent to the minimum repayment amount, the period specified
by the Bank within the minimum payment amount so that you can continue to use the
remaining credit limit. However, please note that if you choose the minimum payment,
you can not enjoy interest-free period, bank card from your account on the day of
consumption began to receive a daily five ten thousandths of interest to you in mind.
Overdraft interest rates were high because credit cards, please use the loop in lines
should be carefully considered, rational calculation.
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