What is Bank of Communications Haoxiangdai? How to apply for Haoxiang Loan?

Speaking of Bank of Communications credit cards, we all know that Bank of Communications credit cards cannot be used for installment payments. Therefore, Bank of Communications specially offers a credit card loan for credit card users - Haoxiangdai. Haoxiangdai is a new credit card installment business of Bank of Communications, which provides convenient services for credit card customers who need to make large purchases. Today, let me introduce it to you!

What is Haoxiangdai?

Haoxiangdai is a new credit card installment business provided by Bank of Communications, which provides bulk consumer credit support with a high exclusive limit and convenient service procedures.

Haoxiangdai is a separate limit added to the credit card limit. This limit is non-recyclable, but it will not affect the original limit in the credit card. The maximum is 150,000, and the validity period is 90 days.

The non-recyclable limit of Haoxiangdai means that the used limit of Haoxiangdai will not be automatically restored due to repayment, return, cancellation of installments, etc.

1. Customer application: Friends who hold Bank of Communications credit cards can directly call the service hotline of Haoxiangdai. In addition, platinum card customers can call the Platinum Card service hotline for consultation.

2. Bank review: After submitting the application, Bank of Communications will review it based on your current credit status, and will tell you the result immediately.

3. Telephone signing: After passing the review, you need to set the limit, starting transaction amount, and number of installments yourself. In addition, customers with online banking can independently sign contracts on Bank of Communications online banking.

How to apply for a credit card loan

Credit card loan process:

1. You need to apply for a credit card to the bank and submit relevant supporting materials, such as proof of identity and income. Certificates, work certificates, etc., and personal credit is good;

2. Wait for bank approval;

3. After approval, you can get a card with a certain credit limit from the bank.

After the applicant gets the card and activates it, he can swipe the card to purchase the goods he needs. However, after overdrafting a credit card, the cardholder must repay it in full and on time to avoid leaving a bad credit record.

Credit card loan definition:

Credit card loan is a credit card installment business launched by banks. The loan amount that cardholders can apply for is generally 20,000-200,000; there are three types of installments: 12 months, 24 months, and 36 months; there is no loan interest rate for credit, and the bank only charges a handling fee. The handling rates for different installments are Each one is different.

Credit card loan conditions

1. Hold a credit card from the bank applying for the loan;

2. Good card usage record;

3 , There are restrictions on the types of credit cards, such as China Merchants Bank’s commercial card, business card, purchasing card, ANA guaranteed card or supplementary card, which do not support cash installment business;

4. Cash installment payments cannot be used for investment (Including but not limited to house purchases, stocks, futures and other equity investments) and can only be used for consumption (including but not limited to decoration, home appliances, weddings, car purchases, student aid, travel, medical treatment, etc.).

Six banks support credit card loans:

Currently Industrial Bank, China Guangfa Bank, Ping An Bank, China CITIC Bank, Shanghai Pudong Development Bank, and Hua Xia Bank provide credit card loan functions.

At present, the application for credit card loan business is not very strict. As long as you have good credit and no bad repayment record, you can generally apply. The main methods used by banks are telephone invitations or proactive applications from customers. Through this method, you can apply for loan amounts ranging from 5,000 to 200,000.

The credit card loan transfer borrowing business is only suitable for people who want short-term loans. They can be used for it. It is not suitable for people who want long-term loans. Because after credit card transfer, although the cardholder can repay in installments, the longer the installment, the higher the interest. The monthly interest for 12 periods is about 0.75, which means that 10,000 yuan has an interest of 75 yuan. If you borrow 50,000 in advance and repay it in 12 installments, the monthly interest is 0.75. Calculated in one year, the interest is 4,500 yuan.

The current personal loan interest rate for 6 months to one year (inclusive) is 6.06, and the loan interest rate for more than 5 years is 6.60. Compared with traditional loans, the cost of credit card transfer loan business will be higher.

The difference between credit card loans and consumer loans

The scope of use of the two is different

General bank consumer loans will be fixed for the cardholder’s exclusive use, such as buying a house. Loans can only be used to buy houses, car loans can only be used to buy cars, renovation loans can only be used for renovations, consumer loans can only be used for specific types of consumption, and so on. Credit cards have a wider range of uses and are relatively more flexible. After applying for a credit card, you can pay by credit card at all merchants that accept credit cards.

The costs of the two are different

Consumer loans do not enjoy an interest-free period. Lenders need to repay each period on time from the effective date of the loan, and loan costs cannot be avoided. Credit cards enjoy an interest-free period of up to 50 days to 56 days. Cardholders are free of charge for overdraft consumption during the interest-free period. As long as the payment is repaid in full before the due payment date, there is no need to bear capital costs.

The convenience of application is different

Consumer loan application is cumbersome, the process is cumbersome, the approval is strict and the approval time is usually long. In many cases, applying for a consumer loan requires the applicant to provide relatively small amount of information. Many supporting documents, and even provide mortgages, guarantees, etc. Applying for a credit card is relatively easy. Customers can apply for a credit card through bank offline outlets, bank official websites and other websites, as well as through WeChat, mobile apps and other channels. During the application process, you only need to provide personal information and application materials such as proof of employment and income. Credit card approval times are relatively short and application is more convenient.

The repayment methods of the two are different

Consumer loans are repaid on a fixed schedule, while credit cards can be repaid in full, in installments or according to the minimum repayment amount, to the cardholder Provides more convenience.