Similar to a credit card, Taobao gives a Taobao credit line to the buyer according to many factors such as the buyer's personal past purchases, reputation, violations and so on. With this quota, buyers can shop on Taobao and pay off the bill on time within the time specified by the system.

that is, Taobao establishes a Taobao credit line according to your personal purchasing power, and this line is given to you by Taobao. Generally, it doesn't exceed 5, yuan. You don't need to apply for any bank card. You can buy things with Taobao's credit line empty-handed. After a month, you must pay back the money to Taobao. If you don't pay back the money, Taobao will call first, then send a bill, and finally file a lawsuit.

Extended information:

Source of funds: open platform of banks? Taoqiao is good, so Taoqiao Net.

access criteria: screen users through online data.

credit line: calculate the credit line through online data.

usage scenario: wireless consumption scenario (Phase I) of Taobao, Alipay and external merchants. Charges: for contracted merchants-pay service fees.

for consumers: pay the service fee and comprehensive fee.

user's rights and interests: free of annual fee, with a maximum interest-free period of 38 days. There is no service charge for consumption in signed businesses.

repayment is easy to remember: billing date and repayment date are fixed, and repayment date equals birthday, which is easy to remember.