The minimum repayment amount on the monthly statement must be paid before the final repayment deadline on the monthly statement, otherwise, the card issuing company has the right to add interest and administrative fees, or hire a debt collection company/credit information center for dunning.
When the actual repayment amount of the credit card is lower than the minimum repayment amount on the due repayment date, the cardholder will pay a late fee for the unpaid part of the minimum repayment amount, which is generally 5% of the unpaid part of the minimum repayment amount. However, due to different bank policies, the minimum amount is not the same.
Cardholders with a large overdraft limit during the Spring Festival holiday must bear in mind the last repayment date after receiving the bill and try to pay off all expenses before the due repayment date. If you really can't afford it, apply for installment repayment as soon as possible or adopt the minimum repayment method to avoid being penalized by the bank.
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