What does it mean when I applied for a car loan and received a text message that the bank sent me a credit card?

The user applies for a bank car loan. After being approved by the bank, the bank will send a credit card to the user. This credit card is used to repay the car loan every month. Banks generally do not accept car loans, but they do offer credit card installment car loans, that is, using the credit card limit to purchase a car in installments, so the credit card is used as a repayment bank card. This is a car purchase installment payment business handled through a credit card. You can also understand that it is roughly the same as a car loan. It means that a large amount of special installment payment will be approved on the credit card. You can not activate it and repay it directly to the card. The credit card card The bill date of each month will be stated on the letter. The repayment date of each month is the 20th day after the bill date. The repayment date of each month is fixed. When the first month's bill comes out, it should be Received a text message reminding you to repay.

In addition, users must return money to their credit cards on time every month. Unless there is a grace period for repayment, one day overdue will also be recorded on the credit report.

1. Procedures for applying for credit card car purchase installments

(1) Submit an application. After you are optimistic about the vehicle you want to buy, fill out the car loan application form and credit rating questionnaire, and submit them to the lending bank together with relevant proof of your personal situation.

(2) The bank conducts pre-loan investigation and approval. If the bank meets the loan conditions, it will promptly notify the borrower to fill in various forms.

(3) Notify the borrower to sign a loan contract, guarantee contract, mortgage contract, and handle mortgage registration and insurance procedures.

(4) The bank issues a loan (directly transferred from the bank to the car dealer's account).

(5) The borrower will hand over the down payment to the car dealer and go through the procedures for picking up the car with the passbook and the car delivery note issued by the bank.

2. Materials required for credit card car purchase installment payment:

1. First apply for a credit card;

2. Loan you to buy a car based on your credit record (that is, you need to activate the card after you get it) , then you need to use it for a period of time, swipe the card frequently, and then repay the money on time. Do not fail to repay the money after the due date. Have a good credit record);

3. Each bank cooperates with designated car dealers, which means that you only You can choose the car brand provided by the bank, and then after choosing the brand, you must choose the loan period (only 1 year, 2 years and 3 years) according to your own financial situation;

4. Then go directly to the bank branch to find it Account managers, they will help you handle everything, usually within 15 working days.

How did a safe car installment become a credit card installment?

The reasons for applying for a credit card installment for a car loan are as follows:

Banks generally do not handle car loans, but through The form of credit card installment car purchase allows users to apply for car loans, which can not only reduce the risk of lending, but also increase profits. Therefore, applying for a bank car loan will become applying for a credit card installment. If the user applies for a loan from an auto finance company, there is no need to apply for a credit card installment.

Why do you need a credit card (debit card) for a China Construction Bank car loan?

China Construction Bank’s car loan model is to purchase a car in installments using a credit card (debit card), so when applying for a car loan, you must apply for a China Construction Bank credit card (debit card). Users who already have a China Construction Bank credit card (debit card) can apply for a car loan directly. If you do not have a card, you need to apply for a credit card (debit card) first and then apply for a car loan. Banks are generally unwilling to do car loan business, but credit card (debit card) installment car purchase is a new car loan model, and it is also the car loan type mainly promoted by banks.

In fact, when applying for a car loan, 4S stores usually require users to go directly to a bank that has a credit card (debit card) to apply for a car loan, and will not recommend users to apply for a temporary credit card (debit card) Car loan.

This is the end of the introduction about why car loans are applied for with credit cards and why car loans are not approved by credit cards. I wonder if you found the information you need?