Credit card loan process:

1. You should apply to the bank for a credit card and submit relevant supporting materials, such as identity certificate, income certificate, work certificate, etc., and your personal credit is good;

2. Waiting for bank approval;

3. After approval, you can get a card with a certain credit line granted by the bank.

after the applicant gets the card activated, he can swipe his card to buy the goods he needs. However, after the credit card is overdrawn, the cardholder must repay it in full and on time to avoid leaving a bad credit record.

Definition of credit card loan:

Credit card loan is a credit card installment business launched by banks. The loan amount that cardholders can apply for is generally 2,-2,; There are three stages: 12 months, 24 months and 36 months. There is no loan interest rate for credit, and banks only charge fees, and the fee rates in different stages are different.

credit card loan conditions

1. Hold the credit card of the bank applying for loan;

2. Good card usage record;

3. There are restrictions on the types of credit cards, such as business cards, official cards, purchasing cards, ANA guarantee cards or supplementary cards of China Merchants Bank, and cash installment business is not supported;

4. The cash installment shall not be used for investment (including but not limited to house purchase, stocks, futures and other equity investments), but only for consumption (including but not limited to decoration, household appliances, wedding, car purchase, student aid, travel, medical care, etc.).

Six banks support credit card loans:

At present, Industrial Bank, China Guangfa Bank, Ping An Bank, China CITIC Bank, Shanghai Pudong Development Bank and Huaxia Bank provide credit card loans.

At present, the application for credit card loan business is not very strict. As long as you have good credit standing and no bad repayment record, you can generally apply. The main methods used by banks are telephone invitation or customers' initiative to apply, and in this way, they can apply for loans ranging from 5 to 2.

Credit card loan transfer loan business is only suitable for short-term borrowers, they can be used for capital turnover, but not for long-term borrowers. Because after the credit card transfer, although the cardholder can repay in installments, the longer the installment, the higher the interest. The monthly interest rate of the 12th installment is about .75%, which means that the interest of 75 yuan will come from 1, yuan. If you borrow 5, yuan in advance and repay it in 12 installments, the monthly interest rate will be .75%, and the interest will be 4,5 yuan in one year. At present, the interest rate of personal loans for six months to one year (inclusive) is 6.6%, and the interest rate of loans for more than five years is 6.6%. Compared with traditional loans, the cost of credit card transfer loans will be higher.

the difference between credit card loans and consumer loans

Are they used in different scopes?

General bank consumer loans will be earmarked by the cardholder. For example, housing loans can only be used for buying houses, car loans can only be used for buying cars, decoration loans can only be used for decoration, and consumer loans can only be used for certain types of consumption. Credit cards are more widely used and relatively flexible. After the credit card application, all merchants who can swipe their cards can pay by swiping their cards.

The cost is different

Consumer loans do not enjoy interest-free period, and the lender needs to repay each installment on time from the effective date of the loan, so the loan cost cannot be avoided. Credit cards, on the other hand, enjoy an interest-free period of up to 5 -56 days, and cardholders are free to overdraw during the interest-free period. As long as they repay in full before the due repayment date, they do not have to bear the capital cost.

is the convenience of application different?

It is troublesome to apply for a consumer loan, with complicated procedures, strict examination and approval, and usually a long examination and approval time. In many cases, the applicant needs to provide more supporting documents, even mortgage, guarantee and so on. It is relatively easy to apply for a credit card. Customers can apply for a credit card through offline outlets of banks, official websites of banks, WeChat and mobile app. In the application process, you only need to provide personal information and application materials such as work certificate and income certificate. Credit card approval time is relatively short, and application is more convenient.

are the repayment methods different?

consumer loans can be repaid regularly, while credit cards can be repaid in full, in installments or according to the minimum repayment amount, which provides more convenience for cardholders.

Baidu encyclopedia-credit card loan