Disadvantages of applying for temporary credit card line
1. The promotion of fixed credit line is affected
The biggest influence of temporary credit line on fixed credit line is in time, because most credit card withdrawals are stipulated in time, such as the interval between temporary credit line and fixed credit line is 3 months, which means that as long as you use temporary credit line, you need to wait for half a year to promote fixed credit line.
2. The temporary quota needs to be paid off in full at one time
The temporary quota is different from the fixed quota. Once it expires, it must be paid off in full at one time. You can't choose installment and you don't enjoy the minimum repayment. If it is not paid in full, it will be overdue, resulting in high interest charges, affecting the cardholder's credit record, and will bring a series of negative effects in the future.
3. There is no interest-free period
In fact, the temporary line is actually lent by the bank to the cardholder for emergency. If you have no financial difficulties, you can choose not to use it. It is different from the fixed line. Since it is for your emergency, the bank will naturally not suffer losses, and it is definitely necessary to charge interest.
Advantages of applying for a temporary credit card limit
1. Solve the dilemma of urgent money
When the urgent money and credit card limit are not enough, the temporary credit line can solve the dilemma of urgent money well. It is less difficult to apply for a temporary credit line than a fixed credit line. In general, as long as the cardholder has no overdue record, he can successfully apply for it.
2. It's beneficial to raise the amount
Why is it said that using the temporary line is beneficial to raise the amount? As we all know, if you want to withdraw the amount, on the one hand, let the bank know that your credit card limit is not enough, on the other hand, let the bank know that you can repay the loan on time. The use of a temporary line can achieve these two purposes, but you must remember to repay on time.
3. Earn points
You can also accumulate points for your credit card by using a temporary credit line. Although credit card points are already too small nowadays, it is naturally excellent to get one more point, and for some business people, more points also mean that you can redeem more air miles, thus reducing your consumption in the air.
Therefore, whether to apply for a temporary quota depends on your specific needs. I advise you not to apply for a temporary quota impulsively and blindly. Some friends think that the higher the quota, the better. If you apply for a temporary quota, you will continue to brush it. At that time, if you brush your card beyond your repayment ability and can't repay it on time, it will not be worth the candle.