The daily interest rate of Ant loan is between 0.015% and 0.06%, which is determined by the comprehensive evaluation of the system. Different people have different interest rates. We calculate based on the more common daily interest rate of 0.04%, and borrow 10,000 yuan in 12 installments.

The repayment methods of Ant Borrow include:

1. Equal monthly repayment method, the interest is 754.69 yuan per day, which is converted into an adult interest of 754.68÷10000≈7.55%.

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2. Interest first and then principal repayment method, the interest is ***1408 yuan, and the converted annual interest is 1408÷10000=14.08%.

At present, the mainstream credit card borrowing methods include direct withdrawal and billing Divide into two types.

When obtaining a credit card, banks usually calculate interest at 0.05% per day, and it is compound interest, which is the legendary interest.

Assuming that 10,000 yuan is obtained directly, one year After repaying it in full, the interest that needs to be repaid at that time is 10000*(1)^365≈12002. It is equivalent to paying an interest of 2002 yuan per year, which is higher than the two repayment methods borrowed by Ant. Moreover, when a credit card appears, the bank charges 1 % handling fee.

Credit card bill payment in installments, that is, using a credit card to consume, and then dividing the monthly bill into multiple installments to repay. The handling fee is different depending on the bank statement. For details, please see the photo .

Compared with 12 periods, Ant’s monthly equal installment repayment method of 7.55% is in the middle of the credit card bill splitting fees of major banks, but the interest first, principal repayment method of 14.08% is far away. Much higher than the split of credit card bills from major banks.

To sum up, Ant is more cost-effective than obtaining a credit card directly, and is also more cost-effective than credit card bills from some banks.

Of course, This is just a comparison in terms of borrowing. Except for the application conditions and daily consumption, the two are evenly matched.

The threshold for Ant's borrowing and credit card is not low. No matter how you say you can apply for a credit card by yourself, Ant's borrowing only requires You can wait for the system to be activated. There is a free period of 18-56 days after daily use of the credit card. No interest will be charged if you repay in full before the repayment date. Interest will be calculated after Ant borrows the money.