Under normal circumstances, China Merchants Bank’s mobile cash withdrawal will not affect your credit report.

1. Will mobile cash withdrawal affect your credit report?

Under normal circumstances , China Merchants Bank’s mobile cash withdrawal will not affect your credit report. China Merchants Bank’s mobile cash withdrawal itself is a cash withdrawal service launched for credit cards. And even if the cash withdrawal business is handled on the mobile phone, there will not be any reduction or exemption in the handling fees or interest for cash withdrawals. The interest on cash withdrawals on the mobile phone is still calculated based on the daily interest rate of 0.5%; the handling fee is 1% of the transaction amount. % to collect. For mobile cash withdrawals, you can choose to repay as you borrow, or you can choose to wait until the bill comes out and repay the cash withdrawal principal, handling fees, and interest all at once. As long as there are no overdue repayments, your credit score will not be affected.

2. Things you need to pay attention to when withdrawing cash from your mobile phone

It should be noted that the latest repayment time for cash withdrawal from your mobile phone is the last repayment date of the latest bill after the cash withdrawal. Users must Complete the repayment of the cash withdrawal amount before the repayment date, otherwise it will cause the credit card to be overdue, and once it is overdue, it will affect the user's credit report. In severe cases, it will also affect the normal use of credit cards.

3. Credit card cash withdrawals and personal credit are not the same category of issues. Of course, if your credit card cash withdrawals are not repaid on time, your personal credit will be affected.

If your consumption is before the current bill date, it will be included in the current bill, so please repay it before the current payment date; if it is after the bill date, it will be included in the next period's bill, you can Repay before the next payment date. Warm reminder: Credit card withdrawals (cash advances) are made through ATM machines. The handling fee for domestic withdrawals is 1% of the cash advance amount, and the minimum charge is RMB 10 per transaction. Cash advance transactions do not enjoy the interest-free repayment treatment. Interest will be charged at a daily interest rate of 0.5% from the transaction date to the repayment date, and compound interest will be charged on a monthly basis. It is recommended to repay as soon as possible.

4. Occasionally using a credit card to withdraw cash will not have any impact on the use of the credit card.

To be precise, using a credit card to withdraw cash once in a while will not have any adverse impact on the credit limit of the credit card. Banks issue credit cards to make money. Cash withdrawals with credit cards require payment of handling fees and interest to the bank. Banks do not Any objections may even be supportive. As long as repayments are made on time, using this function occasionally will not only increase your contribution to the bank, but will also be helpful for raising your balance.