Is it still necessary to use a credit card after reducing its limit to zero? Be careful when selling cards!

Nowadays, bank risk control is becoming more and more strict, and card delimitation and card delimitation are happening every day. Although some cardholders have not been blocked, their credit card limit has been reduced to zero. There are still cases like this Do I need to continue using the card? If you plan to cancel your card, what should you pay attention to? Let’s briefly introduce it today.

Is it still necessary to use a credit card after reducing its limit to zero?

In fact, if the credit card limit is reduced to zero, as long as the card is not blocked and the card status is normal, it is still recommended to continue to use the card. Although there is no limit, you can deposit money into the credit card for consumption, preferably in When you have consumption needs, you can then deposit money into the card. If possible, you can deposit 5,000 yuan first.

When you deposit money, remember to swipe your card to keep the money in the card flowing at all times. Otherwise, if you deposit money and don’t use the card for a long time, it will be bad. If there is no transaction for more than 180 days, the credit card is likely to be damaged. Bad debts form and are reported to the central bank for credit reporting, affecting personal credit.

Although you are using your own money to deposit money into a credit card for consumption, it is still more cost-effective than directly swiping a savings card for consumption. One is that you can participate in credit card promotions, which can save some money. ; One is to be able to regain approval from the bank by swiping the card, and the limit may be increased.

Of course, whether you want to use the card or not depends on your needs. If you think there is no need to continue using the card, consider that there are risks if the credit card is not used for a long time, such as annual fees being deducted, fraud, etc. , you can cancel your credit card.

However, you still need to be cautious when canceling your credit card. There are some things you must pay attention to!

1. It depends on whether the credit card has an overdue history. If there is and the overdue record can be found, such a credit card cannot be cancelled. It must be properly maintained and deposited into the card as mentioned above. To spend money, you must use the card for at least 2 years, develop good card usage behavior, and reduce the impact of overdue cards. Otherwise, once the overdue card cancellation record is fixed, it may never be eliminated.

2. It also depends on how difficult it is to apply for a card. For example, some credit cards are difficult to apply for. For example, the cards of the four major state-owned banks pay more attention to the applicant’s asset strength, and people with average financial resources will be approved for the card. You still have to keep it well. Although the limit will be zero, the credibility is still there. You might as well use it as a stepping stone to apply for a credit card from a commercial bank, maybe you can get a large-value card approved.

3. If you really want to cancel the card, make preparations, such as paying off the debt, making sure there is no extra money in the card, and then call to apply for card cancellation. The calculation will start from the date of cancellation. Within the first 45 days, no money will be charged to the credit card. If the annual fee is deducted, repay it as early as possible, and there will be no refund. The card can be successfully canceled on the 46th day.

In short, if the credit card limit is reduced to zero, as long as the card is not blocked, you can still save money and continue to use the card. You may be able to make a good turnaround. If you do not plan to use the card, you should be cautious when canceling the card. You need to pay attention No one should be left alone to avoid unnecessary trouble.

Can I still use my credit card after reducing my limit to 0? It will become clear after you give it a try

Since entering 2019, major banks have tightened their risk control. We often hear news that cardholders’ credit cards have been reduced, and some even have bad luck and have a credit limit of tens of thousands. dropped directly to 0. Many cardholders are not sure whether they can continue to use their credit cards if their credit limit is reduced to 0. Let’s discuss this topic below.

In fact, when the credit card limit is reduced to 0, whether you can continue to use the card mainly depends on whether the credit card status is normal and whether it has been frozen by the bank. Here is an analysis from two aspects:

1 , only reducing the limit, not blocking the card or restricting transactions

For credit card transactions, the card status must be normal before the limit is considered, and if the limit is only reduced to 0 by the bank, but If the card is not blocked or transactions are restricted, you can still use the card. However, because there is no limit on the credit card, you must first deposit money into the credit card before you can use the card to make purchases. In fact, you still use your own money.

Of course, there are benefits to doing this. Firstly, you can continue to enjoy various credit card discounts. Secondly, by depositing money into the credit card for consumption, you can prove your financial strength to the bank and have reached the point where risk control has been lifted. Purpose, generally after 6 months of use, there is still a chance to increase the limit.

2. Not only the credit card limit is 0, but the card has also been blocked

In this case, the card must not be used. You must call the bank to unfreeze the card and return the card to normal status. You can continue to use the card.

However, it should be reminded that the success rate of generally unblocking bank cards is very small. Especially if the card is blocked due to illegal card use such as cashing out, it will most likely not be lifted. . Unless you can provide relevant consumption vouchers to prove that you have not cashed out.

To sum up, whether a credit card can continue to be used after its limit is reduced to 0 mainly depends on the status of the card. Of course, it also depends on the cardholder's willingness to use the card. After all, some cardholders will not want to use the card when their credit card limit reaches 0, so it is recommended to cancel the credit card.

Can I still use my credit card with a credit limit of 0? It’s better to do this if you don’t want to use the card!

It is not unusual for a credit card limit to be 0. Cardholders often encounter such situations. One is due to innate factors, and the other is caused by acquired factors. So, facing a credit card with 0 limit, is it still necessary to use it? Let’s answer your questions below.

1. What causes the credit card limit to be 0?

As mentioned earlier, the credit card limit is 0, which is caused by both congenital factors and acquired factors.

1. Innate factors:

Refers to cardholders who do not meet the conditions for using credit cards, but banks consider the potential spending power of such people and regard them as potential customer groups. After training, I was issued a credit card with a limit of 0. Common ones include credit cards for college students issued by various banks. Because college students do not have the ability to repay, the credit card limit for college students they apply for is 0.

2. Acquired factors:

Mainly refers to cardholders who are risk-controlled by the bank due to improper use of the card or failure to repay overdue payments, and the bank will confiscate their credit card The amount is directly reduced to 0. For example, if you frequently use a credit card to cash out, it is easy to be risk-controlled; if the number of overdue payments exceeds six in a row, the bank will reduce the credit card limit to 0, or directly block the card, etc.

2. Can I still use my credit card with a credit limit of 0?

According to the above two reasons, the situation of whether the credit card can be used is also different:

1. Innate factors:

In this case, In addition to having no limit, the 0-limit credit card has no restrictions on its use. After depositing money into the credit card, you can still use it as an overdraft for consumption, and it helps to establish a credit record early, and you can also enjoy various preferential measures of the credit card. The bank may increase the limit based on your card usage, so it is still necessary to use it.

2. Acquired factors:

In this case, the card cannot be used in most cases, especially if the card is blocked due to illegal use of the card, it is difficult for the bank to unblock you. . Even if the ban is lifted, but you have a "criminal record", you will not easily increase your quota. If you don't want to use the card, you can cancel the credit card as long as there is no overdue record.

In short, whether a credit card with a limit of 0 can still be used mainly depends on the status of your credit card and whether you have a need for a 0-limit credit card. If you feel that there is no need to use a 0-limit credit card, it is best to cancel the card and account when there is no overdue record.

What should I do if the available limit of my ICBC credit card is zero?

If you are using it normally, you can repay it as soon as possible and the credit limit will be restored immediately. If your credit card is frozen, you can only pay off the balance and apply to the bank to restore it to normal. If that doesn't work, you can only The account has been closed

What does it mean when the available credit limit of a credit card is 0?

The available credit limit of a credit card is 0 means: the usable limit has been used up/the credit card has a bad record and the credit card can no longer be used. To perform operations such as swiping a card for consumption, you must first repay/increase the original consumption amount before you can continue to use the credit card for consumption.

According to Article 7 of the "Regulations on the Supervision and Administration of Credit Card Business of Commercial Banks": A credit card refers to a credit card that records cardholder account information, has bank credit lines and overdraft functions, and provides cardholders with relevant banking services. All types of media.

Credit cards stipulated in the relevant laws of our country ("Interpretation of the Standing Committee of the National People's Congress on Relevant Credit Card Regulations") refer to credit cards issued by commercial banks or other financial institutions with the functions of consumption payment, credit loans, transfer settlement , cash deposit and withdrawal and other full or partial functions of the electronic payment card. On December 1, 2017, the "English Translation and Writing Standards in the Public Service Field" was officially implemented, stipulating that the standard English name of credit cards is CreditCard.

Credit card consumption is a non-cash transaction payment method. There is no need to pay cash when consumption, and repayment will be made on the billing date (BillingDate).

Credit cards are divided into credit cards and quasi-credit cards. Credit cards refer to credit cards in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; quasi-credit card It refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund as required. When the reserve account balance is insufficient to pay, the cardholder can overdraw within the prescribed credit limit. The so-called credit card generally refers to a credit card only.

Starting from January 1, 2021, the credit card overdraft interest rate will be determined independently by the card issuer and the cardholder through independent negotiation, and the upper and lower limit management of credit card overdraft interest rates will be cancelled. The daily interest rate is 0.7 times 5/10,000).

On May 25, 2021, the Supreme People’s Court issued and implemented the “Regulations of the Supreme People’s Court on Several Issues Concerning the Trial of Bank Card Civil Cases.”

Interpretation:

According to Article 7 of the "Regulations on the Supervision and Administration of Credit Card Business of Commercial Banks": A credit card refers to a credit card that records relevant information about the cardholder's account, has bank credit limit and overdraft functions, and Various media that provide cardholders with related banking services.

What happens when the credit card limit is 0? Can I still use it if my quota is 0?

Credit card is a very popular payment method nowadays. Its advantage is to use its own limit to make purchases in advance, so when people apply for a credit card, they hope that the higher the limit of their card, the better. And sometimes people will encounter the situation where the card limit is 0. So, what happens when the credit card limit is 0? Can I still use it if my quota is 0? Let me answer it for you today.

What happens when the credit card limit is 0?

1. The comprehensive score is not high

When the bank is reviewing the applicant, if the applicant meets the application conditions, but the comprehensive score is not particularly high, but If there is development potential, the bank will still approve the applicant's card, but in order to reduce its own risk, the bank will approve the applicant's card limit to 0.

2. Quasi-credit card

When people apply for a credit card, sometimes the bank will approve a quasi-credit card for the applicant, but if you do not activate the overdraft function of the card , then the card limit will be 0.

3. Overdue or excessive consumption

In the first two cases, the limit after you apply for the card is 0. In the other case, your credit card itself has a limit, but you overspend. , the credit card was emptied, resulting in a limit of 0. Or if you fail to repay the money overdue for a long time, the bank will reduce your card limit to 0.

Can I still use my credit card with a credit limit of 0?

1. Save first and then spend

If the credit limit after applying for a card is 0, of course the credit card can still be used. When you get the card and the limit is 0, there is no need to rush to cancel the card. You can choose to save first and then repay. Do you deposit money into the card first and then make purchases?

And after using the card for a period of time, you can apply to increase the card's limit. Generally, you can increase the temporary limit after 3 months, and the fixed limit after 6 months. The card limit will gradually increase as you use the card.

2. Repay as soon as possible

If the credit card is emptied and the credit limit is 0, you can overdraw part of the credit limit. Of course, it is best to repay as soon as possible. Repay as soon as possible and the credit limit is It can be used once restored. The same applies to the situation where the credit limit is 0 due to overdue payment. Repay as soon as possible and allow the credit limit to be restored before you can use it.

The above is the answer to "What happens if the credit card limit is 0? Can I still use it if the limit is 0?" There are many situations where the credit card limit is 0, but even if you are approved and the limit is 0, you can still use it. Just deposit first and then spend.

This is the end of the introduction about whether a credit card with a credit limit of 0 can still be used and under what circumstances the credit card limit is 0. Did you find the information you need?