Credit card loan process:
1. You need to apply for a credit card from the bank and submit relevant supporting materials, such as identity certificate, income certificate and work certificate. , and your personal credit is good;
2. Waiting for bank approval;
3. After approval, you can get a card with a certain credit limit granted by the bank.
After the applicant activates the card, he can swipe his card to buy the required goods. However, after the credit card is overdrawn, the cardholder must repay in full and on time to avoid leaving a bad credit record.
Credit card loan definition:
Credit card loan is a credit card installment business launched by banks. The loan amount that cardholders can apply for is generally 200,000-200,000; There are three stages: 12 months, 24 months and 36 months. There is no loan interest rate for credit, and banks only charge fees. The fee rates are different at different stages.
Credit card loan terms
1. Hold the credit card of the bank applying for loan;
2. Good card use record;
3. There are restrictions on the types of credit cards, such as China Merchants Bank business card, official card, purchase card, ANA guarantee card or supplementary card, and cash installment business is not supported;
4. Cash installment funds shall not be used for investment (including but not limited to equity investments such as house purchase, stocks and futures), but only for consumption (including but not limited to decoration, household appliances, wedding, car purchase, student aid, tourism, medical care, etc.). ).
Six banks support credit card loans:
At present, Industrial Bank, Guangfa Bank, Ping An Bank, China CITIC Bank, Shanghai Pudong Development Bank and Huaxia Bank provide credit card loan functions.
At present, the application for credit card loan business is not very strict. As long as you have good credit and no bad repayment record, you can generally apply. The main methods used by banks are telephone invitation or active application by customers. In this way, they can apply for loans ranging from 5,000 to 200,000.
Credit card lending business is only suitable for short-term borrowers, they can be used for capital turnover, but not for long-term borrowers. Because after the credit card transfer, although the cardholder can repay the loan in installments, the longer the installment time, the higher the interest. The monthly interest rate of 12 installment is about 0.75%, which means that 10000 yuan will have interest from 75 yuan. If you borrow 50,000 yuan in advance, 12 installment repayment, the monthly interest rate is 0.75%, and the annual interest is 4,500 yuan. At present, the interest rate of personal loans for six months to 1 year (inclusive) is 6.06%, and the interest rate of loans for more than five years is 6.60%. Compared with traditional loans, the cost of credit card transfer loans will be higher.
The difference between credit card loans and consumer loans
The scope of use of the two is different.
Generally, bank consumer loans will be earmarked for cardholders. For example, housing loans can only be used to buy a house, car loans can only be used to buy a car, decoration loans can only be used for decoration, and consumer loans can only be used for specific types of consumption. Credit cards are more widely used and relatively flexible. After applying for a credit card, all merchants who can pay by credit card can pay by credit card.
The cost is different.
Consumer loans do not enjoy interest-free period, and lenders need to repay each installment on time from the effective date of the loan, so the loan cost is inevitable. Credit cards enjoy a maximum interest-free period of 50 -56 days, during which cardholders can freely overdraw. As long as the repayment is made in full before the due repayment date, there is no need to bear the capital cost.
The convenience of application is different.
Consumer loan application is troublesome, complicated and strict, and usually takes a long time. In many cases, applicants need to provide more supporting documents, even mortgages and guarantees. Applying for a credit card is relatively easy. Customers can apply for credit cards through offline outlets of banks, official website, WeChat and mobile apps. In the application process, you only need to provide personal information and application materials such as work certificate and income certificate. Credit card approval time is relatively short, and it is more convenient to apply.
The two repayment methods are different.
Consumer loans can be repaid regularly, while credit cards can be repaid in full, in installments or at the minimum repayment amount, which provides more convenience for cardholders.
Baidu encyclopedia-credit card loan
How to borrow a credit card?
Users with credit cards can borrow money in the following two ways:
1. Processing credit card cash installment. Now many banks have opened credit card cash installment business. If you want to apply for credit card cash installment, you need the cardholder to apply to the bank actively. After the approval of the bank, the cardholder will convert the applied amount into cash and deposit it in the designated debit card.
2. For cash advance, the user can directly take the credit card to the ATM of the bank to withdraw money. At present, there are handling fees and interest on cash advance. The handling fee is 1% to 3% of the withdrawal amount, and the interest is 0.05% per day.
How to borrow money by credit card?
With a credit card, you can use the following three kinds of Fang Min burning loans:
1. Handling credit card cash installment: the cardholder voluntarily applies to the bank. After the bank approves, the amount applied by the cardholder will be converted into virtual cash for the current period and deposited in the designated debit card, and the cardholder can return it according to the specified number of installments.
2. cash advance: users can withdraw money directly from the ATM of the bank with their credit cards;
3. Credit card loan: For large consumption such as car purchase and decoration, the bank will give a certain loan amount according to the credit status of the cardholder, and the cardholder will repay the principal in one lump sum and in installments.
How to borrow money by credit card?
1, cash installment
In order to cope with the increasingly rampant credit card tx
Behavior, many banks have carried out cash installment business. Its purpose is to meet the customers who are short of money and in urgent need of money, and to open a legal cash channel for them. Different from cash withdrawal, you need to apply for cash installment. After the approval of the bank, the credit card limit will be converted into cash according to the amount applied by the cardholder, transferred to the designated debit card, and returned by the cardholder according to the specified number of periods.
In addition, it is worth noting that cash installments can generally be divided into 1, 3, 6, 12, 24 and 36. Once confirmed, the number and amount of periods cannot be changed, let alone cancelled.
2. Cash in advance
Cash advance is also called cash withdrawal. This method is the simplest. Just take your credit card and take it out of the ATM. You can also apply for a loan from a designated savings card through APP and credit card online banking. Although the method is the simplest, cash advance also has some disadvantages. For example, the maximum advance loan amount can only reach 100% of the credit line. It is of little use if the quantity is small. In addition, cash advance has handling fee and interest, the handling fee is generally 0%-3% of the cash withdrawal amount of 65438, and the handling fee is 0.05% per day.
3. Credit card loans
For large-scale consumption, such as car purchase and decoration, the bank will give a certain loan amount according to the credit status of the cardholder, and then the cardholder will repay the principal in one lump sum and in installments.
For credit card loans, we should pay attention to five aspects, namely, loan term, handling fee, down payment, limit and the time of next repayment. Among them, the credit card loan term will generally not exceed 36 months, and the shortest period will not be less than 1 month. The handling fee is a one-time fee. The fees charged by each bank are different and will be spread to each expected repayment amount. The calculation method is: handling fee = installment amount × handling fee rate.
In addition, credit card loans are mainly large consumption, so the necessary condition is that you have to pay a down payment, which is generally 10%-30%. In addition, credit card loans are also restricted. According to the applicant's credit rating, the general loan amount is 200,000-200,000. After approval, payment will generally be made within 7 working days.
Extended data:
When using credit cards, you should pay attention to the following points:
1. The credit card has a minimum repayment amount, which is 10% of the current consumption amount. Only when this amount is paid can it be considered as normal repayment, but it does not enjoy interest-free period.
2. Credit cards can be cashed, but interest is charged for cash withdrawal.
3. The credit card cannot be sent.
，tx
This is illegal.
Don't let others use your credit card at will.
5. Don't use other people's mobile phones to repay credit cards.
6. Don't use multi-card loans to repay credit card debts.
References:
Baidu encyclopedia-credit card
References:
Baidu encyclopedia-credit card tx