How to get a loan with a credit card? How much can I borrow?

Now, more and more people have their own credit cards. In addition to using credit cards for shopping, some people even use credit cards to solve their financial problems.

question. So how to get a personal credit card loan? How much can you borrow?

1. What is a credit card loan?

Credit card loan refers to the overdraft function granted by the bank to the cardholder within a certain credit limit, which transforms the consumer loan function of the credit card into an unsecured one. It is a credit card transfer and borrowing business. After the credit card loan application is approved, the bank will transfer part or all of the credit card limit to the debit card, and the loan will be repaid according to the repayment period agreed with the bank, and the cardholder will pay the corresponding handling fee.

2. How to apply for a credit card loan

The application threshold for credit card loan business is not high. As long as the cardholder's credit status is good and there are no abnormalities in the account, he can generally apply. To apply for this business, except for a few banks that adopt the bank's initiative invitation method, most banks implement two methods: telephone invitation and customer initiative application. Customers who are proactively invited by the bank generally receive a higher loan amount than those who proactively apply.

3. How much can you borrow with a credit card loan

Through credit card loans, you can apply for loans ranging from 5,000 yuan to 200,000 yuan, and no mortgage is required, as long as the credit card is held People can lend money if they meet the qualifications.

4. Credit card loan fees

Since credit card transfer borrowing is suitable for people with short-term urgent needs, it is not suitable for long-term borrowing. Therefore, after transferring a loan using a credit card, the cardholder can repay the loan in installments, with the number of installments ranging from 3 to 36. However, it should be noted that the longer the installment period, the higher the expected annualized interest rate. The monthly interest rate for 12 periods is around 10,000 yuan, which means that 10,000 yuan will generate 75 yuan in interest per month.

If you borrow 50,000 yuan in cash in advance and repay it in 12 installments, the monthly interest will be one year, and the total interest will be 4,500 yuan. The expected annualized interest rate for personal loans of 6 months to one year (inclusive) is . The expected annualized interest rate for loans with a term of more than 6 months is . Compared with traditional loans, the cost paid for credit card transfer loan business will be higher.

Since different banks have different regulations, the loan limit is basically related to the original limit of the credit card.

Finally, I would like to remind those friends who want to get a loan that there are often people in society who use the banner of "can apply for mortgage-free and guarantee-free business" to target people who are in urgent need of money. They often send text messages to find them. client. Many of them are doing private loans, and the monthly interest rate is generally more than 2 cents, and the highest is about 5 cents. Therefore, if you want a loan, you must apply for it at a regular bank or other financial institution to avoid being deceived.

How many days does it take to get a credit card loan? Mainly depends on the bank

Credit card loans are usually the hidden limit of the credit card, that is, the cash installment business beyond the limit, such as China Merchants Bank e-Zhao Loan, CITIC New Express, Minsheng Quanminle Installment, etc., this type of loan If you apply directly online, the approval speed is relatively fast. As for how many days it will take, it mainly depends on the regulations of each bank. Here is a list of a few.

How many days does it take to get a credit card loan?

1. China Merchants Bank e-loan:

China Merchants Bank’s credit card special quota installment business, the maximum loan amount can be 300,000, the loan period can be up to 2 years, and the lowest interest rate can be passed when there are discounts China Merchants Bank Credit Card WeChat official account, or application via Palm Life, the loan is generally released within 48 hours after processing, and the fastest real-time loan will be issued. You will be notified by SMS after success, please wait patiently.

2. Industrial Bank Xingxiang Loan:

Industrial Bank provides high-quality credit card holders with a one-time cash consumption limit that is independent of the fixed limit of the credit card. In addition to not occupying the limit, , the business model and pricing are consistent with Industrial Cash Installment, which can be processed through self-service channels, customer service channels, and e-sales channels such as WeChat, short links, and Haoxingdong APP, and real-time loans can be issued.

3. CITIC New Express:

CITIC Bank’s additional cash installment business, up to 300,000 yuan, depending on the cardholder’s card usage and credit conditions, the maximum loan period is 3 Year, the review will be completed within 1 to 3 working days after application. The time for the loan to arrive depends on the bank card submitted. The fastest for our bank's card is 12 hours, and the slowest is 1 working day; for other bank's cards, the fastest is 12 hours. 3 working days at the latest.

In short, the time for credit card loan disbursement will be different from each bank, but there will always be a text message notification after the loan is successfully processed, so everyone should pay attention to it.

How to get a Bank of China credit card loan

When our bank approves your credit card application, we will determine the total credit limit for you, which can be used repeatedly. It is a daily Small unsecured loans that bear interest. You can freely use the card to spend within this credit limit, and you can pre-borrow a certain proportion of cash within the limit. The available limit changes based on your monthly card consumption and repayment status. You can choose how much to repay on your outstanding balance in each cycle, and we will automatically restore the corresponding credit limit for the portion you have repaid.

The above content is for your reference, please refer to actual business regulations.

If you have any questions, please feel free to consult Bank of China’s online customer service.

You are sincerely invited to download and use Bank of China Mobile Banking APP or Bank of China Cross-border GOAPP to handle related businesses.

How to approve and disburse Bank of China credit card cash installment?

Bank of China credit card cash installment approval and disbursement:

When you submit a credit card cash installment application, the application result is subject to final review. Please pay attention to the SMS notification. After approval, Bank of China will transfer the funds to the Bank of China debit card under your designated name.

The above content is for your reference, please refer to actual business regulations.

If you have any questions, please feel free to consult Bank of China’s online customer service.

You are sincerely invited to download and use Bank of China Mobile Banking APP or Bank of China Cross-border GOAPP to handle related businesses.

This is the end of the introduction about credit card loan and how long it takes. I wonder if you found the information you need?