What does credit card advance mean?

Credit card advance is also called credit card repayment. It generally means that the credit card user cannot repay the entire amount in the current month and wants to repay the full amount in order to get free payment. interest or points. Or the user is unable to repay the money and delays the repayment time by paying monthly advance fees and other methods.

Credit card advance repayment process:

The specific process of credit card advance repayment is: the repayer takes your credit card and first goes to the bank where the repayment is due. After paying off the money, wait for about ten minutes, and then cash out all the money you just paid back on his POS machine. The credit card holder pays a handling fee (1%-3% of the repayment amount) to the repayer, and the bank determines that the credit card user has repaid the loan in full and consumed it in full. Interest-free and the next bill will be sent.

Extended information

It is not illegal to repay a loan on behalf of someone else. However, credit card advances also involve cashing out after repayment. The recent "Interpretation on Several Issues Concerning the Specific Application of Laws in Criminal Cases Impeding the Administration of Credit Cards" clearly stipulates that cashing out of credit cards is illegal.

The "Interpretation" also stipulates: "Violating national regulations, using point-of-sale terminals (POS machines) and other methods to directly pay cash to credit card holders through fictitious transactions, false prices, cash returns, etc. , if the circumstances are serious, they shall be punished as illegal business operations in accordance with the provisions of Penalty Article 225.”

The essential feature of credit card cash-out is to directly convert the credit limit in the credit card into cash through deception. Take out the condom. Since the cash-out funds have separated from the normal credit management channels of banks and escaped the management sight and control of regulatory authorities, they have seriously damaged the management order of my country's financial market and planted unstable factors for the country's overall financial order.

Penalty:

The essential characteristic of credit card cash-out is to convert the credit limit of the credit card into cash through deception. Cash-out merchants collude with cardholders to use credit cards to conduct false transactions, which is actually a disruption and violation of the financial order.

Previously, due to the lack of clear legal basis, relevant departments could only impose soft penalties such as withdrawing POS machines and suspending transactions on merchants who were cashing out. There has been a lack of effective means and it was difficult to start from the source. Effectively curb the spread of arbitrage behavior.

Reference material: Baidu Encyclopedia - Credit card advance payment

Is it illegal to advance credit card payment?

Does not exist. It is not illegal to repay a loan on your behalf. However, credit card advances also involve cashing out after repayment. Credit card advance payment, also known as credit card repayment, generally refers to a situation where a credit card user cannot repay the entire amount in the current month and wants to repay the amount in full to obtain interest-free or points. Or the user is unable to repay the money and delays the repayment time by paying monthly advance fees and other methods. The specific process of credit card advance repayment is as follows: the repayer takes your credit card and first goes to the bank where the repayment is due to make the repayment. After paying off the money, wait for about ten minutes, and then cash out all the money you just paid back on his POS machine. The credit card holder pays a handling fee (1%-3% of the repayment amount) to the repayer, and the bank determines that the credit card holder has repaid the loan in full and consumed it in full. Interest-free and the next bill will be sent. Due to bank regulations, credit card payments cannot be delayed for one day. Otherwise, it will be considered as expected and late payment fees and interest will be charged. You can't just pay interest, you must pay the minimum payment, otherwise it will be considered overdue, and bank personnel will constantly call to collect. When credit card users are unable to repay the minimum repayment in the short term, or are able to repay the minimum repayment but do not want to pay high interest, they usually choose credit card advances.

Is credit card advance still illegal?

It is not illegal to repay a loan on behalf of someone else. However, credit card advances also involve cashing out after repayment. The recent "Interpretation on Several Issues Concerning the Specific Application of Laws in Criminal Cases Impeding the Administration of Credit Cards" clearly stipulates that cashing out of credit cards is illegal.

According to the "Interpretation on Several Issues Concerning the Specific Application of Laws in Criminal Cases Obstructing Credit Card Management":

Article 12 Violating national regulations, using point-of-sale terminal machines (POS machines) and other methods , directly pay cash to credit card holders through fictitious transactions, false prices, cash returns, etc. If the circumstances are serious, they shall be convicted and punished for the crime of illegal business in accordance with the provisions of Article 225 of the Criminal Law.

Whoever commits the acts in the preceding paragraph with an amount of more than 1 million yuan, or causes the financial institution's funds to be overdue for more than 200,000 yuan, or causes the financial institution to suffer economic losses of more than 100,000 yuan, shall be deemed to have It is a "serious circumstance" stipulated in Article 225 of the Criminal Law; the amount is more than 5 million yuan.

If it causes overdue repayment of more than 1 million yuan of funds of a financial institution, or causes economic losses of more than 500,000 yuan to a financial institution, it shall be deemed as a "circumstance" stipulated in Article 225 of the Criminal Law. Extremely serious." If a cardholder maliciously overdrafts in the above manner for the purpose of illegal possession and should be held criminally responsible, he will be convicted and punished for credit card crimes in accordance with the provisions of Article 196 of the Criminal Law.

Extended information:

According to the "Interpretation on Several Issues Concerning the Specific Application of Laws in Criminal Cases Obstructing the Management of Credit Cards":

Article 6 The cardholder shall be charged with illegal possession If the card is overdrafted beyond the prescribed limit or within the prescribed period for the purpose, and the card is not returned for more than three months after two effective calls by the card-issuing bank, it shall be deemed as a "malicious overdraft" as stipulated in Article 196 of the Criminal Law.

For the purpose of illegal possession, the cardholder’s credit record, repayment ability and willingness, the status of applying for and overdrafting the credit card, the purpose of the overdraft funds, the performance after the overdraft, and failure to comply with regulations should be considered. The reasons for repayment and other circumstances shall be judged. The purpose of illegal possession shall not be determined solely based on the fact that the cardholder failed to repay the loan as required.

If any of the following circumstances occurs, it shall be deemed as “illegal possession for the purpose” as stipulated in the second paragraph of Article 196 of the Criminal Law, but there is evidence to prove that the cardholder does not possess illegal possession. Exceptions for purposes:

(1) Overdrafts that cannot be returned due to large amounts of money knowing that one has no ability to repay;

(2) Overdrafts that cannot be returned after applying for a credit card using false credit certificates ;

(3) After overdraft, evade bank collection by hiding, changing contact information, etc.;

(4) Escape, transfer funds, hide property, and evade repayment;

(5) Using overdraft funds to carry out criminal activities;

(6) Other situations of illegally possessing funds and refusing to return them.

Article 7 Collection that meets the following conditions at the same time shall be deemed as "effective collection" as stipulated in Article 6 of this Interpretation:

(1) When the overdraft exceeds the prescribed limit or prescribed period

(2) Collection should be carried out in a way that can confirm the cardholder’s receipt, except where the cardholder deliberately avoids collection;

(3) Two collections must be at least An interval of thirty days;

(4) Comply with the relevant regulations or agreements on collection.

Whether it is a valid collection should be based on the phone recordings, information delivery records, letter delivery receipts, email delivery records, signatures of the cardholders or their family members, and other original evidence of collection provided by the card-issuing bank. material to make judgments.

Relevant evidence materials provided by the card-issuing bank should have the signature of bank staff and the official seal of the bank.

Baidu Encyclopedia - Solutions to several issues concerning the specific application of law in criminal cases of obstructing credit card management

How is the credit card repayment fee charged? How much is the handling fee for 5,000 yuan?

The handling fee is often charged in the form of interest, and the handling fee is 500 yuan for 5,000 yuan. This is actually a short-term loan.

1. Repay it for you

Based on the overdraft amount of 10,000 yuan, it takes one week to apply and the handling fee is 200 yuan; 2 The weekly handling fee is 300 yuan; the 3-week handling fee is 400 yuan; the 4-week handling fee is 600 yuan. Cardholders can freely choose the repayment time, which is more flexible for those cardholders who are in urgent need of repayment but whose wages have not yet been paid.

:

The process of credit card repayment and advance is as follows 1. Process

Find the entity or object who can repay the loan for you. (The credit card repayer can be an individual, an organization or an intermediary agency. If you want to choose a credit card repayment method, it is recommended that cardholders choose a more professional and more credible institution on the market to prevent being cheated. Liar.) Prove to the repayer that the credit card can still withdraw money. The repayer is afraid that after helping the cardholder repay the card, the card will still be frozen and cannot be used out, and he will not be able to obtain the repayment amount. Cardholders can choose to temporarily deposit a small amount to the card to prove its availability to the payer. The repayer transfers money to the cardholder's credit card, and the cardholder immediately withdraws the money after repayment.

This is the most important step in the credit card repayment process, that is, after the cardholder regains the credit limit, the money will be returned to the repayer through consumption immediately. According to the agreement, a certain handling fee is paid to the repayer, usually 1% to 1.5.

2. Bank of Communications Credit Card

The Bank of Communications Credit Card cash withdrawal fee is 1% of the cash withdrawal amount, with a minimum of 10 yuan/transaction. For withdrawals of 5K, the handling fee is 50 yuan; 2. Cash withdrawal interest is based on Calculated at 5/10,000 per day, 50000.05% = 2.5 yuan/day, 75 yuan/month, 65-day interest = 162.5 yuan. 3. If you choose to repay in 3 installments, the installment fee for each installment is 50000.72% = 37.17 yuan, 3 The total handling fee for the period is =111.51 yuan. It is recommended to choose installment repayment which is more cost-effective.

What is a credit card advance? How to apply

Credit card advance payment, also known as credit card repayment, generally refers to a situation where a credit card user cannot repay the entire amount in the current month and wants to repay the amount in full to obtain interest-free or points. Or the user is unable to repay the money and delays the repayment time by paying monthly advance fees and other methods.

The specific process for credit card advance repayment is:

1. The repayer takes your credit card and first goes to the bank where the repayment is due;

2 , wait for about ten minutes after repaying the money, and then cash out all the amount just repaid on his POS machine;

3. The credit card holder pays the handling fee to the repayer (on behalf of the repayer) 1%-3% of the payment amount), the bank determines that the credit card holder has paid off the loan in full and consumed it in full

4. Interest-free and the next bill will be sent.

In fact, according to bank regulations, credit card payments cannot be delayed for one day. Otherwise, it will be considered as expected and late payment fees and interest will be charged. You can't just pay interest, you must pay the minimum payment, otherwise it will be considered overdue, and bank personnel will constantly call to collect. When credit card users are unable to repay the minimum repayment in the short term, or are able to repay the minimum repayment but do not want to pay high interest, they usually choose credit card advances.

This is the end of the introduction to Hefei Yaohai Credit Card Advance and Hefei Professional Credit Card Advance. I wonder if you found the information you need?