Cash withdrawal by credit card is one of the inherent functions of credit card itself. Cardholders can use credit card to withdraw cash from banks. Cash withdrawal by credit card mainly includes overdraft cash withdrawal and overpayment cash withdrawal. Overdraft cash withdrawal requires payment of interest, and interest is calculated from the day you withdraw cash, while overpayment cash withdrawal requires no interest, only part of the handling fee, depending on the regulations of banks.

the limit of overdraft withdrawal is set according to the cardholder's card usage, and the maximum is not more than 5% of the cardholder's credit limit, and the daily limit of ATM withdrawal per card per person is 2. In addition to the withdrawal fee, domestic and foreign overdraft withdrawals must also pay interest, and some banks can enjoy interest-free treatment.

Extended information:

Precautions for cash withdrawal by credit card

1. The cash withdrawal part cannot be repaid in installments

If cash is withdrawn by credit card, the cash withdrawal part cannot be repaid in installments, and many bank credit cards are fully included in the minimum repayment amount. In other words, how much you withdraw from cash must be paid back on the repayment date, and it must be paid off in one lump sum, and there must be no default or insufficient repayment amount, otherwise it will be overdue and directly affect the credit investigation.

Second, the high handling fee

The handling fee required for withdrawing cash by different banks' credit cards is also different. Generally, the handling fee for withdrawing cash by credit cards is between 1% and 3%. In addition, after withdrawing cash, it means that you can't enjoy the interest-free period, and the bank will charge the cardholder a certain amount of interest. The interest will be calculated on a daily basis from the bookkeeping date, with a daily interest rate of 15, until the debtor pays off the debt.

3. Cash withdrawal affects the application amount business

For banks, after taking the current behavior, the bank will think that the cardholder's repayment ability is insufficient, and it is difficult to apply for withdrawal, so it is best not to do cash withdrawal business. The cost of withdrawing cash by credit card is high, and it can't be divided into stages, which can easily cause greater repayment pressure.

reference source:

Baidu encyclopedia-credit card withdrawal

Baidu encyclopedia-credit card.