Save it. Once you borrow it, will you check your credit information?

Southern metropolis daily

20 19-09-20

Credit card payment business is still very popular in many mutual gold platforms. Although the compensation business of the mutual gold platform is still in a regulatory gap, the barbaric growth in the early stage has taken root and the comprehensive cost is high. Some platforms even rudely require users to agree to more than 20 personal information authorization forms with different requirements with one click, including many compliance risks.

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Cross-listed companies are sought after.

The so-called "credit card balance compensation" means that credit card holders apply for loans from third parties when repaying bank bills. The platform first advances the user's credit card arrears and settles the credit card bill in one lump sum, and then the cardholder repays the loan to the third party institution in installments. Tracing back to the source, the originator of credit card compensation business is American company Capital One. In the early 1980s, Capital One implemented low-interest compensation to provide users with interest-free "bridge funds", allowing credit card users to transfer the outstanding balance to the platform's credit card account. In fact, it is equivalent to a transfer of creditor's rights, which has attracted many domestic mutual fund startups to follow suit.

At present, it is generally believed in the industry that the leading brands of domestic credit card repayment business are 5 1 credit card, credit card loan under WeChat Jinke, money saving under Samoyed Jin Fu, credit card loan under Xiaoying Technology, joint operation of digital technology and focus small loan, and Jiufuwanka under Jiufu Digital Branch to help you repay. Among them, only Samoyed Jinfu and Shuhe Technology are not listed, and other companies are listed in US stocks or Hong Kong stocks.

Regulatory gap? Hidden compliance risks such as privacy leakage.

Some users complained in public channels that after applying for loans and repayment through the credit card compensation platform, the credit card quota was reduced, claiming that the real interest rate of the mutual fund platform with low interest compensation was high.

Take Samoyed Jin Fu as an example. The interest rate of credit card installment business provided by "Save White" is between17 and 13%- 17.6%, and the interest rate of cash advance business is between 19%-24%. In the first half of 20 18, the average annual interest rate of credit card balance compensation was 20.7%, and the comprehensive annual interest rate of cash loan was 24%-36%. It is much higher than the upper limit of bank credit card installment interest rate 18.25%, which is not cost-effective. The low interest compensation strategy of Das Kapital does not seem to be favored by imitators.

Talking about the supervision of "credit card compensation" business, Xiao Sa said that the supervision of this industry is still lacking. There is no access mechanism, no definition of its nature, and insufficient warning of related risks, which is basically a barbaric regulatory gap.