Bank of Communications is one of China's major financial service providers. The group's business scope covers commercial banking, securities, trusts, financial leasing, fund management, insurance, offshore financial services, etc. The 2017 report shows that Bank of Communications has 3,270 business outlets in 239 prefecture-level and above-level cities and 158 counties or county-level cities across the country. So what about Bank of Communications credit card? Is it reliable? Let’s take a look below.
First of all, the advantages of Bank of Communications credit cards:
1. The first-year annual fee is waived. The Y-POWER card is swiped three times to waive the next year's annual fee, and other cards are swiped six times to waive the next year's annual fee. fee;
2. SMS service is free;
3. Cash withdrawal fee is only RMB 1;
4. Reporting loss requires RMB 50;
5. There are more outlets than other non-state-owned commercial banks;
6. Points can be redeemed for more gifts.
7. Bank of Communications has many branches. After all, it is an old bank. Repayment is convenient. Bank of Communications credit card points are one point per dollar. If you spend a lot, you can exchange for air tickets.
8. Some people question that CMB’s 20 yuan to earn one point is too harsh, but it is not. Bank of Communications has higher points, but it also requires more points when exchanging gifts, while China Merchants Bank has less points, but it can be exchanged for hundreds of points or even dozens of points during events. If you look at it in terms of points, what China Merchants Bank has done is not excessive.
This is the disadvantage of the Bank of Communications credit card:
1. The system can only automatically increase the limit, but cannot apply for an increase, and manual intervention cannot be performed;
2. The cheating SMS reminder fee;
3. The cash withdrawal fee is very expensive;
4. Full penalty interest;
5. Strict risk control. Violations can easily block your card and affect your credit report.
6. There is no text message reminder when repaying the Bank of Communications credit card, and you have to wait until the next day to see the money being credited to your account.
7. Bank of Communications said that its credit card has a longest interest-free period of 56 days, which is the longest interest-free period for domestic credit cards. As for the specific algorithm, to be honest, I still don’t understand it.
8. Indeed, if you want to handle various services, you will receive a text message on your mobile phone reminding you that you need to activate the Four Seasons Worry-free service, which costs four yuan a month. Open for at least one quarter at a time.
The reason why this service is charged is because Bank of Communications declares that once the credit card is lost and reported as lost within 24 hours, Bank of Communications will be responsible for any consumption on the card. A bit like insurance