Some users who use Bank of Communications credit cards find that when they check their credit cards on the mobile app, they have an option of "making an appointment to borrow money". So what does Bank of Communications mean by "advance loan"?

The "advance loan" of Bank of Communications credit card is a kind of cash transfer and cash installment business that can be carried out within the credit card limit. Generally, the maximum amount of "advance loan" can reach 50% of the total credit card. Once the user transfers money or withdraws cash through "advance loan", it will occupy the total amount of credit card.

For example, if the credit card limit of the cardholder is 50,000 yuan, the "reserved loan" limit is 25,000 yuan, and the user advances 20,000 yuan through the "reserved loan" function, then the credit card limit that the cardholder can use now is 50,000-20,000 = 30,000 yuan. After the user returns the "reserved loan" later, the credit line will return to the cardholder's credit card again.

Bank of Communications will charge the user a certain handling fee for the "advance loan", and the bank needs to pay interest at a daily interest rate of five ten thousandths when using credit cards to advance cash. The cash advance handling fee is charged at 1% of the advance loan amount, with a minimum charge of 10 yuan for each loan.

How to operate the bank of communications credit card reservation loan?

Bank of Communications credit card users can use the funds in their credit cards in the following ways if they want to borrow them in advance.

1. Cash withdrawal at the counter: users can bring their ID cards and credit cards to the business hall of Bank of Communications outlets, explain the situation to the counter staff, make an "appointment loan" to withdraw cash, and return it later on schedule.

2.ATM cash withdrawal: users can take a credit card to the ATM of Bank of Communications to withdraw cash, as long as it does not exceed the cash withdrawal amount, the cash withdrawal can be successful.

3. Direct installment of mobile banking: users log in to the Bank of Communications credit card mobile APP, click "Advance Loan", and enter the amount of cash they want to borrow in advance according to the prompt requirements, and advance loan can be successful.

How long does it take for Bank of Communications to book a credit card loan?

The "advance loan" of Bank of Communications arrives in real time. As long as the user sends an application and fills in the corresponding information as required, after the submission is successful, the user's "advance loan" will be directly transferred to the bank card bound by the user.

Although Bank of Communications will directly transfer the "advance loan" to the user's bank card, the specific arrival time needs to be determined according to the actual situation, because there are certain differences in the arrival time of each bank.