Tips for credit card monthly mortgage repayment

Try to set the credit card statement date before the mortgage repayment date. Since the credit card limit can be used repeatedly, you can use the reverse card Ways to pay off credit card bills. When using a credit card to pay the monthly mortgage payment, do not overuse the funds in the credit card.

First, a credit card, also called a credit card, is a credit certificate issued by a commercial bank or credit card company to consumers with qualified credit. It takes the form of a card with the issuing bank's name, validity period, number, cardholder's name and other contents printed on the front, and a magnetic stripe and signature strip on the back. Consumers holding credit cards can shop or consume at specially designated commercial service departments, and then the bank will settle the accounts with merchants and cardholders. Cardholders can overdraft within the prescribed limit.

2. Credit cards stipulated in my country's relevant laws ("Interpretations of the Standing Committee of the National People's Congress on Relevant Credit Card Provisions") refer to credit cards issued by commercial banks or other financial institutions with the functions of consumption payment, credit loans, An electronic payment card with full or partial functions such as transfer settlement, cash deposit and withdrawal, etc. On December 1, 2017, the "English Translation and Writing Standards in the Public Service Field" was officially implemented, stipulating that the standard English name of credit cards is CreditCard.

Third, credit card consumption is a non-cash transaction payment method. There is no need to pay cash when consumption, and repayment will be made on the billing date (BillingDate). Credit cards are divided into credit cards and quasi-credit cards. A credit card refers to a credit card in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; a quasi-credit card refers to a credit card in which the cardholder can A quasi-credit card that deposits a certain amount of reserve fund and can be overdrafted within the specified credit limit when the reserve account balance is insufficient for payment. The so-called credit card generally refers to a credit card only.

Fourth, starting from January 1, 2021, the credit card overdraft interest rate will be determined independently by the card issuer and the cardholder through independent negotiation, and the upper and lower limit management of the credit card overdraft interest rate will be cancelled. (The original upper limit was 0.5% of the daily interest rate, The lower limit is 0.7 times the daily interest rate of 0.5%).

5. On May 25, 2021, the Supreme People’s Court promulgated and implemented the “Regulations of the Supreme People’s Court on Several Issues Concerning the Trial of Bank Card Civil Cases”

There are handling fees for early repayment of mortgage loans by China Merchants Credit Card ?

For early repayment of a credit card, you must pay off all handling fees (without interest) and principal before applying to end the installment. Except for the Agricultural Bank of China

There are two types of early repayment of mortgage loans:

1. All prepayments, and interest calculation will end on the day when the principal and interest of the bank are repaid. You may also have to pay liquidated damages, which are generally stipulated by banks for 1-5 years, and the default amount is generally 1% of the early repayment part.

2. For partial early repayment, the bank will generally not charge liquidated damages, and the remaining outstanding loan will still accrue interest at the original interest rate

If it is a China Merchants Bank credit card, the consumption amount You can repay before the due "repayment date", and you can repay it to your credit card no later than 24:00 on the repayment date (subject to the actual arrival).

You can enjoy the "interest-free period" when spending with China Merchants Bank's credit card. The "interest-free period" refers to the period between the bank recording date and the due repayment date for consumer transactions that can enjoy interest-free treatment. time period. The maximum interest-free repayment period is 50 days, unless otherwise agreed between the card issuer and the applicant, but the maximum interest-free repayment period shall not exceed the maximum interest-free repayment period required by relevant laws and regulations (advance loan) (except cash).

How to apply for installment of credit card bill of China Merchants Bank:

1. Apply for installment via online banking of China Merchants Bank.

2. Apply for installment of China Merchants Bank Mobile Life.

3. Apply for installment through China Merchants Bank’s mobile banking.

4. China Merchants Bank interactive SMS application for installment.

5. Apply for installment through the China Merchants Bank customer service hotline.

Situations where bill installment application is not supported:

1. Cash advance transactions, installment transactions, real estate transactions and various fees (such as annual fees, interest, late payment fees and other credit cards Charges);

2. The amount applied for foreign exchange purchase;

3. Other transactions specified by the Bank’s Credit Card Center.

Restrictions on the amount of bill installment application:

1. When applying for RMB bill installment, the minimum amount applied for each time is not less than 300 yuan.

2. When applying for US dollar bill installments, the minimum amount applied for each time is no less than US$100.

3. The total amount of the installment application for unbilled transactions must be equal to the sum of the original transaction amount. Cardholders are not supported to apply for installment repayment of part of the amount of a single transaction.

How to use a credit card to pay off your mortgage every month?

1. According to personal habits, you can directly enter the Alipay interface, open the Taobao page, click the login button, enter your username and password, and click "Login".

2. After logging in successfully, click "Seller Center" at the top, and then enter the relevant center page.

3. Find the "Alipay Zone" in the middle of the seller center; if there is no Taobao store, you can also directly enter the Alipay page and log in.

4. Open the official Alipay website.

5. Then click on a "Personal Service" on the main page of Alipay. If there is a relevant drop-down list, click "Credit Card Repayment" or "Loan Repayment" as needed. Wait for options

6. Click on either "Credit Card Repayment" or "Loan Repayment" at will. You can see two selection buttons on the left side. Click and select as needed.

7. After clicking "Credit Card Repayment", a new interface will appear. Select the bank to be repaid and enter the account number of the relevant bank card as needed, and just follow the steps.

8. Click "Repay Loan" and enter the bank that also requires repayment and the relevant account number to perform related operations.

: Can real estate mortgage loans be repaid in advance?

According to the banking law, after a home buyer applies for a loan to buy a house, he or she can apply for early repayment, but it must comply with the bank's loan repayment requirements. The conditions will do. Real estate mortgage loans can be repaid early. However, to repay the real estate mortgage loan in advance, the applicant is required to have paid off the loan for one year to facilitate the process. Although you can repay the loan in advance before the full year is full, most banks will charge a certain amount of liquidated damages if the real estate mortgage loan is repaid before the full year is full, so it is not cost-effective. To repay a real estate mortgage loan in advance, it is best to repay it in advance after one year of repayment. To repay a real estate mortgage loan in advance, the repaying party needs to submit an application for early repayment to the bank that provided the loan 15-30 days in advance. After the bank agrees, the borrower will bring the information needed for repayment to the bank to go through the relevant procedures. In addition, if most of the personal property mortgage loan has been paid off, early repayment is not recommended in this case, and the individual can use the current idle funds for other purposes. This is more cost-effective than paying off the mortgage loan early.

Can a credit card be used to pay off a mortgage?

Credit cards cannot be used to pay off mortgages.

Because first of all, it is impossible to repay by swiping a card. The bank will automatically deduct the money from the debit card you opened an account with the Bank of Communications.

If you must use it, you can only withdraw it in cash and deposit it on the Bank of Communications debit card. But in this case, cash withdrawal fees, interest, etc. will be incurred. These costs are high.

You can earn credit card points by buying things in stores, etc. There are no points for withdrawing cash.

What I want to remind you here is that you have a provident fund every month, so it is possible to repay the monthly payment by deducting the balance of the provident fund every month. You have to ask the bank staff whether it is possible.

How to pay off the mortgage backwards with a credit card? What should you pay attention to when repaying your mortgage?

Almost everyone among young people in this era has at least one credit card. Credit cards can cover daily expenses, and indeed solve the problem of insufficient monthly salary. But when it comes to repaying the mortgage, this is a bit of a mystery. A mortgage is a loan, and repaying a loan should be unreasonable. So, how do you pay off your mortgage with a credit card backwards?

Almost everyone among young people in this era has at least one credit card. Credit cards can cover daily expenses, and indeed solve the problem of insufficient monthly salary. But when it comes to repaying the mortgage, this is a bit of a mystery. A mortgage is a loan, and repaying a loan should be unreasonable. So, how do you pay off your mortgage with a credit card backwards? What should you pay attention to when paying off your mortgage?

How to pay off the mortgage backwards with a credit card?

1. Credit cards cannot be used as a mortgage repayment account. That is to say, credit cards cannot be used to repay through consumption, and they cannot enjoy the credit card's interest-free period of up to fifty days. Expect.

2. Therefore, the so-called using a credit card to repay the mortgage loan is actually withdrawing cash from the credit card to repay the mortgage loan. Once a credit card uses the cash withdrawal service, it is the beginning of the cardholder's interest "trap": various banks charge a handling fee ranging from 0.5% to 1% for domestic cash withdrawals. In addition to the handling fee, the cardholder must pay There is also interest, calculated based on the daily interest rate of 5% and the annual interest rate of 18%. It is equivalent to borrowing another loan in addition to the mortgage.

3. Regarding whether misappropriating credit cards to pay off mortgages is considered illegal cashing out, some people in the industry said that this can only be said to be taking advantage of a legal loophole. However, the person also said that according to relevant legal provisions, malicious overdraft of more than 5,000 yuan can be sentenced to 3 years in prison.

What should you pay attention to when repaying your mortgage?

1. You need to contact the bank to adjust the repayment amount. Since it is the amount agreed between the home buyer and the bank, the monthly payment will not be reduced as the central bank cuts interest rates. Therefore, the home buyer needs to agree with the lending bank again to adjust the monthly payment amount according to the new interest rate starting from the first repayment date in 2016. Otherwise, the bank will still calculate the monthly payment amount according to the original amount, so it will not be possible to enjoy the interest rate reduction in the short term. actual benefits.

Commercial loans with equal principal and interest are suitable for home buyers with stable income. In most cases, the mortgage will be equal principal and interest, because for those buyers who know little about home buying or even home loan, all they need to know is just one How much is the fixed monthly payment? Equal principal and interest means that you have a fixed amount of money to repay every month. Although the overall interest will increase, it makes it easier for the borrower to arrange income and expenditure, and saves a lot of trouble.

2. The January monthly payment of equal principal and interest may increase. For commercial loans, due to different loan banks and repayment methods, changes in the monthly payment in January 2016 will also be different. Under the equal principal and interest repayment method, most banks will increase the monthly payment slightly in January. Specifically, while interest is decreasing, the adjusted principal paid has increased. This situation will change in February, that is, the monthly payment in February will decrease, and the monthly payment for the whole year will be based on February.

Equal-amount principal is suitable for home buyers who have relatively ample funds on hand. Because the principal of the mortgage loan is the same from beginning to end, the only difference is that the interest changes from more to less, so the monthly repayment The amount will decrease each month as time goes by. For home buyers who are in a hurry to buy a house and renovate it, the initial repayment pressure is too high and it is not a suitable choice. However, if you have ample funds on hand, it would be more cost-effective to choose equal amounts of principal and less interest.

3. It is not recommended to repay equal principal amounts in advance. Under the repayment method of equal principal amounts, the borrower's interest this month will decrease slightly, and the overall monthly payment will be lower than last year. Depending on the bank, the monthly payment in January will decrease or increase. Since repayments are based on equal amounts of principal, the first thing buyers pay back is mainly interest. When the central bank is currently in the interest rate cut channel, bank loan interest rates have dropped, resulting in a relatively reduced interest repayment at this time. Therefore, in January 2016, house buyers There is no need to rush to repay the loan early.

The above is what I mainly tell you about how to repay a mortgage with a credit card backwards, and what you need to pay attention to when repaying a mortgage. Now we know that everyone’s life is relatively stressful, and most young people are burdened with it. Mortgage move forward. But if we use credit cards to pay off the mortgage backwards, it will only increase our pressure, so everyone should think twice before doing so.

Can a credit card be used to repay a mortgage?

Credit cards cannot be used to repay a mortgage. To be precise, a credit card cannot directly use the credit limit to pay off the mortgage. Because after you apply for a mortgage, the bank will open a special repayment account for you. You can only complete the repayment of the mortgage by depositing cash into the account or transferring money to the account.

It is not impossible to withdraw cash from a credit card and then use the withdrawn funds to repay the mortgage. However, using this method will increase the interest on credit card cash withdrawals, which in turn increases personal repayment pressure. Moreover, this method is equivalent to using bank money to repay bank loans. Once discovered by the bank, it is likely to be considered malicious. Overdraft credit card. Therefore, when repaying a mortgage, everyone should repay it honestly and not try to take advantage of legal loopholes. Using a credit card to pay off a mortgage is obviously not advisable from the possible consequences.

:

1. A credit card, also called a credit card, is a credit certificate issued by a commercial bank or credit card company to consumers with qualified credit. It takes the form of a card with the issuing bank's name, validity period, number, cardholder's name and other contents printed on the front, and a magnetic stripe and signature strip on the back. Consumers holding credit cards can shop or consume at specially designated commercial service departments, and then the bank will settle the accounts with merchants and cardholders. Cardholders can overdraft within the prescribed limit.

2. Credit cards stipulated in the relevant laws of our country ("Interpretations of the Standing Committee of the National People's Congress on Relevant Credit Card Regulations") refer to credit cards issued by commercial banks or other financial institutions with the functions of consumption payment, credit loans, An electronic payment card with full or partial functions such as transfer settlement, cash deposit and withdrawal, etc. On December 1, 2017, the "English Translation and Writing Standards in the Public Service Field" was officially implemented, stipulating that the standard English name of credit cards is CreditCard.

3. Credit card consumption is a non-cash transaction payment method. There is no need to pay cash when consumption, and repayment will be made on the billing date (BillingDate). Credit cards are divided into credit cards and quasi-credit cards. A credit card refers to a credit card in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; a quasi-credit card refers to a credit card in which the cardholder can A quasi-credit card that deposits a certain amount of reserve fund and can be overdrafted within the specified credit limit when the reserve account balance is insufficient for payment. The so-called credit card generally refers to a credit card only.

4. Credit cards are generally special carrier plastic cards with a length of 85.60 mm, a width of 53.98 mm, and a thickness of 1 mm. The name of the card issuer, validity period, number, cardholder name, etc. are printed on the front and the name of the cardholder is printed on the back. Chip, magnetic strip, signature strip. Cardholders can use their credit cards to shop and spend money with special entities and deposit and withdraw cash from banks. China's credit card market is still one of the fastest growing product lines in China's personal financial services market. Although the economic benefits of the industry are full of challenges, driven by economies of scale and growth in consumer spending, the average annual growth rate of China's credit card issuance in the next 10 years will be The growth rate will remain around 14, and profitability will also tend to improve. It is expected that by 2020, the cumulative number of credit cards issued in China will exceed 800 million.

That’s it for the introduction of how to pay off the mortgage with China Merchants Credit Card.