Whether credit card interest is low or borrowing is low?
Credit card interest is low. The daily interest rate for borrowing money is between 0.015% and 0.06%, and the installment rates of credit cards vary greatly from bank to bank. When the installment rate is converted into a daily interest rate and is higher than the interest rate in the borrowing range, then the interest rate of the credit card is high. When the daily interest rate for borrowing money is lower than the daily interest rate for credit cards, the interest rate for borrowing money will be lower. When comparing high and low, you must use specific numbers for comparison.
Most of the time, the interest rate of borrowing money will be higher than that of credit cards, because borrowing money is an online loan product after all.
Credit Loan (formerly known as Jiebei) is a loan service launched by Ant Financial Services Group based on Alipay. According to different Sesame scores, users can apply for different loan amounts. The maximum repayment period of Borrowed is 12 months, and the daily interest rate of the loan is 0.045%. You can repay whenever you want. When borrowing, users can choose to lend to their Alipay account and bound savings bank card for personal consumption, decoration, travel, etc.
In November 2021, the name of Jiebei has been changed to "Credit Loan", and it is clearly stated that the service is provided by a bank.
On January 28, 2021, Ant Jiebei launched a new limit management function, and users can adjust the limit independently. In November 2021, the name of Alipay Jiebei was changed to "Credit Loan", and it was clearly stated that the service would be provided by a bank. Jiebei said that it is gradually promoting brand isolation. In the future, Jiebei will be provided by Ant Consumer Finance Company and become the exclusive brand of Ant Consumer Finance Company. Credit services provided independently by banks and other financial institutions will be displayed on the "Credit Loans" page. During the brand isolation process, users' service experience will not be affected, and core processes such as activation, accounting, interest calculation, and loan repayment will not change.
Many users want to know whether early repayment will cause the loan to be closed. According to the official introduction of Ant Jiebei, early repayment will not cause Jiubei to be closed, because the activation and limit increase of Jiebei are comprehensively evaluated by the system based on all the users’ Alipay usage behaviors.
So what is the difference between early repayment and on-time repayment? Don't worry, we'll take our time.
From Alipay's point of view, your early repayment proves that you are not tight on money. If you use Alipay for one less day, you will receive one less day of interest. There are so many people out there who are short of money, and the borrowing quota pool is only so Small, I will definitely lend money to people who really need it.
In another case, Alipay wants to prevent someone from maliciously using "Zhima points", because one of the Zhima credit scores is "credit history", and the credit history score can be borrowed through Ant Borrowing. Increase by repaying in full.
Which interest rate is lower, borrowing or using a credit card?
Jibei.
The interest on borrowed money is charged according to the number of days of use. There is no charge for no use. The daily interest rate for borrowing is between 0.015% and 0.06%. The comprehensive evaluation of each account is different, so the interest rate is also different. The handling fees of different banks' credit cards are also different. For example, the installment repayment handling fee of China Merchants Bank is 0-0 per period. Between 1.67%.
Notes on using Jiebei
When withdrawing cash with Ant Jiebei, you need to sign the "Personal Credit Report Inquiry Authorization Letter", "Sesame Service Agreement" and loan contract, otherwise the loan It is not easy to succeed.
Within the limit, Ant Jiebei can withdraw cash up to 20 times. If it exceeds 20 times, you need to settle any number of borrowings in the previous period.
The free cash withdrawal limit on Ant Borrowing is 20,000 yuan. If it is exceeded, Alipay will charge a 0.1% cash withdrawal fee, so the editor recommends that you withdraw the loan directly to your bank card.
Which interest rate is lower, borrowing money or credit card?
The interest rate of a credit card will be lower, but you need to pay it back in time, and it is best not to exceed the interest-free period.
When you compare borrowing money with credit cards, you actually need to comprehensively analyze the two overdraft consumption situations in order to get an accurate interest rate.
The interest rate on credit cards will be lower.
We know that the annualized interest rate of credit cards can reach about 18%. However, credit cards basically have an interest-free period, which means that if you repay before the interest-free period, you will basically not be charged interest. , even if you exceed the interest-free period, the lowest monthly interest rate can still reach about 0.5%.
The borrowing model is different from the credit card model. When you successfully withdraw money from borrowing, your interest has already started to be calculated. So all in all, the interest rate on a credit card will obviously be much lower than that on a loan.
It will be more convenient to use it.
The interest rate for borrowing money is basically maintained at around 10,000 to 60,000 per annum. Although it does not seem that high, this interest is compound interest, and not many people will pay the second time after settling the payment on the same day. God will repay you. If you borrow money and don't pay it back, the compound interest will be very scary. If calculated over the entire year, the basic annual interest rate is even higher than that of a credit card. It is precisely because of this that people who often overdraft their purchases generally do not use borrowing money to overdraft their purchases, but use credit cards to stabilize their cash flow.
Whether it is borrowing money or using a credit card, I recommend everyone to spend rationally.
This reason is very simple, because no matter when we use any borrowing service, we are actually overdrafting our consumption and purchasing power. The money we borrow from these lending services is not our real money, but the money we need to repay in the future. For those users whose financial situation is not very good, these borrowing services will worsen their financial situation and will not play a role in repairing it.
Finally, if you can guarantee to repay the credit card during the interest-free period, I think a credit card is a good choice.
Does Ant borrow money with higher interest rates or credit card interest rates? A trick to teach you how to calculate
Does Ant borrow money have higher interest rates or credit card interest rates? One trick to teach you how to do math
Ant Borrowing is a loan service launched by Alipay to provide micro-enterprises and individual consumers. According to the user's sesame score, loan limits in different ranges are formulated.
Credit cards refer to electronic payment cards issued by commercial banks or other financial institutions that have all or part of the functions of consumer payment, credit loans, transfer settlement, cash deposits and withdrawals, etc.
As far as daily interest is concerned, the daily interest rate of Ant Borrowing is between 0.015% and 0.06%, and the daily interest rate of credit card is 0.05%.
In order to intuitively understand which of the two has higher interest, we take a loan of 10,000 yuan as an example, assuming it is divided into 12 installments.
1. Ant Borrowing has two repayment methods, equal monthly repayment and interest first and then principal repayment.
Assuming a daily interest rate of 0.04%,
1) Equal monthly repayments, that is, the monthly repayment amount is fixed. The calculated interest is 755 yuan, and the annualized interest = 755/10000 = 7.55%
2) The interest for repaying the principal after interest is 1,408 yuan, and the annualized interest = 1408/10000=14.08%
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2. Credit cards also have two repayment methods, direct cash withdrawal and bill installment. The daily interest rate is 0.05%, but the bank uses compound interest.
1) The interest for direct cash withdrawal is 2,002 yuan, and the annualized interest = 2002/10000 = 20.02%
2) Bill installment means that the cardholder pays the credit card to the credit card center after swiping the card for consumption. Request that the consumption amount be returned to the bank in installments. Since different banks charge different handling rates, the interest rates are also different. If the handling rate is low, the interest will be low, and if the handling rate is high, the interest will be high.
Therefore, according to the above results, it can be seen that the two repayment methods of Ant Borrowing are more cost-effective than direct cash withdrawal by credit card.
However, compared with credit bill installments, the two repayment methods of Ant Borrowing are only more cost-effective than some credit bill installments.
But credit cards have one advantage that Ant Borrowing does not have. That is, credit cards have interest-free repayment periods.
According to existing regulations, under normal circumstances, the minimum interest-free period for credit cards is 20 days and the maximum is 50 days. If the cardholder repays during this period, he only needs to pay the amount due on the bill without paying interest.
There is no interest-free period for Ant Borrowing. But for people who need long-term borrowing, this advantage is not important.
Does a credit card (debit card) have a lower interest rate or does a loan have a lower interest rate?
Credit cards (debit cards) have low interest rates.
Why credit cards (debit cards) are cost-effective
There is no interest-free period for credit cards (debit cards);
Credit cards (debit cards) ) The limit is relatively larger than that of Jiebei and it is more convenient to use;
Jiebei applies once to check the credit report once and withdraws once to report the credit report once. Frequent application and withdrawal affects personal credit report;
Although it is possible to repay borrowed money in advance, early repayment will reduce the amount or directly shut down the right to use;
It is relatively easy to increase the limit of a credit card (debit card), but borrowing money will basically not be used once it is used. It will be improved.
Let me compare the borrowing interest rate with the installment interest rate of credit card (debit card). According to the minimum daily interest rate of borrowing 0.04%, the credit card (debit card) borrows 10,000 yuan according to the monthly interest rate of 0.72% to calculate for everyone. .
Borrow: 10000x0.04%=4 yuan x30=120 yuan
Credit card (debit card) installment: 10000x0.72=72 yuan
Follow Based on my own circumstances, the interest on borrowing money is much higher than the installment fee of a credit card (debit card)! In the current situation, a credit card (credit card) is appropriate
The advantage of borrowing is that you can settle your credit card (credit card) in advance. Only certain banks can settle it in advance without charging the remaining installment fees.
The two are actually completely different financial products. If Borrower chooses from the perspective of interest first and then principal or short-term loan, it is still cost-effective to choose Borrower because Borrower can repay the loan in advance. Bank credit cards (debit cards) cannot be repaid in advance after installment, even if the handling fee (interest) for the remaining term of early repayment will be charged normally (only some banks will not charge it).
This is the end of the introduction about which one has the lower interest rate, credit card or borrowing money, and whether borrowing money or credit card has higher interest rate. Did you find the information you need?