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Do you still not know the minefield in the use of credit cards?
2021-05-24

In daily life, many people use credit cards. But in fact, I still don't know much about credit cards. If I am not careful, I may step on the pit. So, let the editor tell you the misunderstanding of credit cards.



1. Handling fees will still be charged for early repayment of bills in installments




Case: Li Li bought a 9,000 yuan digital camera with a Hua Xia Bank credit card a few months ago. Because of the large amount, she couldn't repay the full amount at the moment.

Subsequently, she applied to the bank for repayment of the bill in 6 installments. After calculating, the repayment per installment was 1555.8 yuan, of which each instalment fee was 55.8 yuan.

Three months later, when she was going to pay back all the remaining money. At this time, she found that there was still a fee of 167.4 yuan (55.8 yuan*3) for the remaining three phases, plus an early repayment fee of 20 yuan.


Fact: After the credit card bill is installed in installments, when deciding to repay in advance, if it is paid monthly, you need to make up the handling fee for the remaining months; if it is a one-time payment, the handling fee will not be charged due to the early repayment. Return.


In other words, after the customer applies for the installment payment, in any case, these handling fees must be borne. In addition, some banks also charge a "cheating" early repayment fee.


Editor: Before proceeding with bill installment, you should make clear consultation on matters such as early repayment, so as to avoid unreasonable application deadlines and overpayment of handling fees. At present, there are also bank regulations that pay off the balance of the bill instalment in advance, and there is no need to continue to pay the handling fee for the remaining months.

2. Full interest on the minimum repayment will be collected as usual


Fact: After making a large amount of consumption, it is impossible to repay in full at the moment. Many people choose the lowest repayment amount (usually 10% of the total arrears), which can prevent bad records.

However, when calculating interest, many people find that interest is calculated from the day of consumption. There is no interest-free period, and full interest is used. The part that has been repaid will still be calculated as the base of interest before the full amount is paid off. .

Calculated on the basis of an overdraft of 10,000 yuan, although 9,900 yuan has been repaid, it is still calculated at 10,000 yuan when calculating the interest, and the interest is still "recovery." However, at present, some banks have cancelled this "overlord clause" and only charge interest on the outstanding part.

Editor: The idea is very beautiful, the reality is very skinny. Before deciding to pay the minimum repayment amount, you still have to figure out the situation.






3. Credit cards cannot be used as savings cards



Case: Many people who have just applied for a credit card will deposit money in the credit card, because in this way, they will also earn points when they use the card. But at this time the bank was stealing, because it was the cardholder who lost it.


Zhang Ze applied for a China Merchants Bank credit card a year ago and deposited 2,000 yuan in it. But when he withdrew 1,000 yuan from the ATM, he discovered that he had deducted 10 yuan. After consulting the bank, he discovered that the 2,000 yuan he had deposited at that time not only had no interest, but also had to pay a handling fee for cash withdrawal.


Fact: At present, different banks charge different fees for cash withdrawal. Some banks charge 1% and charge a minimum of 10 yuan; some banks charge 2.5% and charge a minimum of 50 yuan.


Editor: Deposit money in the credit card, and "go in", it will not be so easy to "out", this kind of selfless dedication "stupid" is better to do less.





4. Credit card cash withdrawal is not interest-free



Case: Yang Ting withdrew 10,000 yuan for urgent use with a credit card from China CITIC Bank on January 30. On February 6, when she logged in to repay the loan online, she discovered that she had to pay 330 yuan more. What's the matter with this 330 yuan?


Later, I called the bank customer service to find out that the cash withdrawal interest will be calculated from the day of cash withdrawal to the day before the payment, and will be charged at five ten-thousandths of the daily interest, plus a cash withdrawal fee of 3%. Based on this calculation, it is 10,000 yuan*0.05%*6 days (May 30-June 5) + 10,000 yuan*3%=330 yuan.


Fact: At present, all banks stipulate that credit card cash withdrawals must pay interest and do not enjoy the interest-free period. Most credit cards are calculated at a daily interest rate of five ten thousandths, which translates into an annual interest rate of more than 18%.


In addition, most credit card cash withdrawals also have to pay high cash withdrawal handling fees, and only a few credit cards are exempted from handling fees.


Editor: If you want to "calculate" the bank's interest-free period, let your friends give you cash and borrow your card for consumption.




5. It is difficult to find cheap installments





Case: At present, various banks and merchants have launched credit card installment payment services, allowing cardholders to use credit cards to make purchases in the mall, and agree with the bank how many times to pay off the overdraft amount. The bank does not charge overdraft interest during the agreed repayment period , This looks beautiful.


Fact: The bank did not lend money to cardholders for nothing, but changed the interest on credit card overdrafts. When the cardholder handles the interest-free installment repayment, the bank will charge a certain handling fee every month, which is generally much higher than the preferential interest rate of the loan of the same grade.


Editor: There is no pie in the sky, so be careful about the "trap" behind zero interest gimmicks.




6. More credit cards are not the better



Case: Some credit card "professional accounts" may apply for multiple themed credit cards, such as aviation themed cards, automobile themed cards, shopping malls themed cards, wealth management themed cards, Taobao themed cards... In this way, points can be doubled during different consumption periods .


Fact: With too many credit cards on hand, cardholders can easily confuse the amount spent on each credit card and when the repayment period is, causing repayment defaults and other phenomena, and the points will also be scattered to each card, which is not cost-effective. It also caused a lot of "financial burden" to myself.


Editor: The more the better, this is not something anyone can control. If you have too many credit cards, you can't play well, and the discounts become a burden.




7. Binding with a savings card can't sit back and relax



Fact: If you are worried about forgetting the repayment date, resulting in bad records such as overdue, then when you apply for a credit card, choose the same bank as the bank that has already applied for the savings card. In this way, the credit card is directly linked to the savings card, and the full amount will be automatically repaid on the repayment date, and no handling fee will be charged.


Or set up a savings bank card that does not charge fees for inter-bank transfers, and then bind all credit cards so that you don't have to worry about forgetting the repayment date, and the bank will automatically deduct the repayment from the savings account on the last repayment day. As long as you have enough money in your savings card, you won't have to worry about overdue repayments in the future.


Editor: When you use a credit card to spend money, you need to be more relaxed. If the repayment amount in your savings card is not enough, you will still have to pay interest if you fail to repay the full amount at once.




8. Passwords are more secure than signatures




Fact: The security of credit cards is the most discussed. At present, it is the mainstream of the international banking industry to use signatures as the consumption certificate of credit cards, but in China, it is the opposite. Passwords are more secure than signatures.


According to international practice, for credit cards, the responsibility for using and verifying signatures lies with the merchant; while the responsibility for using and keeping the password lies with the cardholder.


There are not many people in China to verify the signature, except for the stolen credit card, there is still a big gap between the processing and foreign countries. Therefore, it is safer to adopt the form of password + signature.


Editor: Let's forget about the experience abroad, what mountain to sing what song. In China, let’s use the traditional mode of signature with password + honestly.



9. There is an "over-limit fee" for over-swiping the card




Case: Wu Nan wants to buy decoration materials next month, so he called the bank customer service and asked to increase the credit limit. The original limit of her Bank of Communications card of 25,000 yuan was increased to 55,000 yuan.


It cost 50,000 yuan to buy decoration materials. On the repayment date, Wu Nan only repaid 5,000 yuan (10% of the arrears) based on his previous experience with the minimum repayment amount, but received a notice from the bank that an over-limit fee was charged. .


Fact: In order to avoid over-limit fees, cardholders must pay off the excess of the original limit within the expiration period of the temporary limit (usually one month), otherwise an extra expense will be incurred.


Increasing the temporary limit of credit cards can indeed bring us a lot of convenience, but don't forget that this limit is temporary. Consult with the bank before repayment, and don't let the temporary quota "pit" you.


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