What are the consequences of having more than 5 credit cards?

What will be the consequences of having more than 5 credit cards?

Personally, I think it is not suitable to apply for too many credit cards. One person has 1-3 cards which are enough to use. Having too many credit cards will not It's a burden. If you don't use it properly, it will cause trouble for you. Let’s take a look at the consequences of having too many credit cards?

1. It is difficult to manage and prone to overdue credit cards

If there are too many credit cards, in order to be able to use each card, it is also necessary to The annual fee is waived by adding up the number of card swiping times. You must swipe this card today and that card tomorrow. If you use the card too much, the repayment will be confusing, so it is very possible that the repayment will be overdue;

2. Personal debt is too high, which will affect future card applications and loans

The "Bank Card Business Shortcomings Control and Security Management Guidelines" issued by the Payment and Clearing Association mentioned that banks are required to strictly control the use of multiple cards per person, Excessive credit extension; that is to say, a person holding too many credit cards may make it difficult to apply for a card again in the future, or even apply for a loan;

3. Excessive credit card swiping

If there are too many credit cards, the total credit limit will also increase accordingly. If there are 5 credit cards, and the average limit of each credit card is 5,000 yuan, then the total credit limit of the 5 credit cards will be about 25,000 yuan; if the total credit limit is too much, it may be You will not exercise restraint when swiping your credit card, which will lead to you discovering that you have overswiped it when you repay it later;

How should you use so many credit cards?

1. Try to make the repayment date as much as possible Stagger them and don’t put them all together; the repayment dates are stacked together, which may easily lead to the inability to repay them all in a short period of time;

2. Set up a memorandum for credit cards with annual fee preferential policies and credit cards without annual fee preferential policies. Make a memo and give priority to credit cards with free preferential policies;

3. Sort out the special rights and interests of each card so that you can swipe the corresponding card at the right time, such as refueling your car. If you use a car owner's card, you can use a Taobao co-branded card for online shopping, or you can use an airline co-branded card when you frequently go abroad;

Can I still use five credit cards? Pay attention to these when bank cards are approved

Nowadays, many cardholders like to apply for various credit cards, but they are worried that they will not be approved if they have too many credit cards on hand. For example, some people may ask whether they can apply for five credit cards. This depends on whether they are cards from the same bank or cards from different banks. Moreover, when banks approve cards, they not only look at the number of cards held, but also take into account many factors.

Can I still use five credit cards?

1. The same bank

Nowadays, many banks have regulations on the number of credit card applications. If the number exceeds the limit, the card will not be approved.

For example, Bank of Communications can only apply for a maximum of 9 main credit cards and use them at the same time, but the same type of credit card and the same card organization can only apply for 1; HSBC stipulates that one person can only apply for one set Card; Everbright stipulates that each person shall not apply for more than 5 cards; the maximum number of Minsheng credit card principal cards is 20, and the total number of supplementary cards is 10.

If there are no other bank regulations, just apply casually. There are no restrictions anyway.

2. Different banks

If you have credit cards from several banks, subsequent card applications will be considered as multiple credit extensions, but there are no specific regulations.

However, it is said that if China Construction Bank already has credit cards from 5 banks, it will be difficult to apply for one.

The bank should focus on these when approving cards

1. Credit card limit usage rate: Mainly look at the average usage limit of each credit card in 6 months. If the limit is too high, the monthly repayment amount will be large. This means that the applicant has a high risk of overdue in the future.

2. Credit card repayment status: Look at the historical repayment records of credit cards. One is the overdue record and the other is the special transaction record. It usually refers to three consecutive overdue records in the past 2 years. There are currently overdue records, and there are: Cards may be rejected if there are bad debts, compensation, or using assets to offset debts.

3. Number of credit card applications: Every time you apply for a credit card, your credit will be checked. No matter whether the card is approved or not, there will be a record. Frequent application for credit cards in a short period of time will mess up your credit.

The 5 most worthy credit cards. Will the credit card installments be subject to a credit check?

The 5 most worthy credit cards. Will the credit card installments be subject to a credit review?

The 5 most worthwhile credit cards

Many people now have the habit of keeping credit cards. In fact, the so-called keeping of credit cards involves increasing your credit card limit through some reasonable methods so that you can have a large credit card. By using a credit card, you can also leave a better record for your credit report.

Many users will choose to apply for a credit card when raising a card. They will choose a credit card with a faster limit and a higher limit to apply for. So what are the 5 most worth keeping credit cards now? Which 5 are there?

The type of credit card to maintain is actually mainly determined by the user's actual situation. There is no fixed ranking of the most worthy credit cards on the market.

Based on the current recommendations of various cardholders, the following five credit cards are the choices of many users when raising cards, and users can use them as a reference.

1. China Merchants Bank Young Card: This is a credit card with a lower threshold and a higher application approval rate. Moreover, this long-term credit card can increase its credit limit quickly. It is a relatively easy credit card to maintain. Generally As long as the user makes appropriate installments, uses the card for more consumption, and maintains sufficient repayment ability, it is easy to obtain a limit increase.

2. Ping An Car Owners Card: This card is a credit card specially launched for car owners. Users can enjoy discounts when refueling as long as they meet the card usage requirements, and the card limit is pretty good, and the limit can be increased It is also relatively fast and is a suitable credit card for car owners.

3. Bank of Communications Wal-Mart Card: This card is a credit card jointly launched by Bank of Communications and Wal-Mart. Everyone must know Wal-Mart, so this credit card is more suitable for users who do a lot of home shopping.

4. GF Zhenshang Platinum Card: This card has a higher limit, but the application threshold is also relatively high. In addition, its corresponding rights and interests are relatively superior, and it is more suitable for users with better financial conditions to maintain the card.

5. GF China Southern Sky Pearl Card: This is a credit card suitable for users who travel a lot. If the user often travels on business or travels, he or she can get a GF China Southern Sky Pearl Card.

Will credit card installments be subject to credit reporting?

Credit card installments will not be subject to credit reporting, and it will not have a negative impact on your credit reporting.

However, after a user applies for a credit card installment, if he or she later fails to return the installment bill as required and has overdue repayment, then a credit report will be filed at this time, and it will directly affect his credit score.

Will having 5 credit cards affect my credit report?

Applying five credit cards will not affect your credit record as long as you have no overdue records.

Which 5 credit cards are the most worth keeping?

The five most worthy credit cards are China Merchants Bank Young Card, Shanghai Pudong Development Bank AE White Card, Guangfa Zhenshang Platinum Card, Ping An Bank Car Owner Card, and Bank of Communications Walmart Co-branded Card

Answer: As there are more and more types of credit cards, we have more choices, but many cardholders who are just getting started don’t know how to choose a credit card that suits them. Some friends care about appearance, while others only care about credit limit and rights. So which banks’ credit cards are worth applying for? The editor has compiled for you five credit cards worth buying from different banks. Whether you are a novice who is just getting started or a senior card user who pursues rights and interests, these five credit cards can satisfy almost everyone.

1. China Merchants Bank Young Card

Yes, this internet celebrity card, which is called Xiaobai’s new credit card, is a common card, but it is very worthy of everyone’s support. The qualification requirements are not high, and it is very easy to apply for the card, but this card is only available to people under 30 years old, so if you don’t have a credit card, it is very good to choose this first. Similar to this card are Bank of Communications Youthpower and Pudong Development Youth. The application age for Youthpower is raised to under 35 years old.

But only this card can withdraw cash with a limit of 100, and there is no handling fee for the first time every month, and there are many benefits such as card opening gifts. It is very easy to maintain, and it only takes about a year to reach the limit of 50,000.

2. Shanghai Pudong Development Bank AE White

Yes, this is one of the four legendary cards, named American Express Platinum Credit Card. If you have this card, I think it is OK. Post it in a circle of friends, haha. If you apply for Pudong Development Ae White for the first time, you can enjoy an unconditional annual fee exemption for the first year. In addition, there are unlimited VIP room privileges throughout the year, 6 companions, 4 free airport pick-up services within the country, and 50,000 credit card points redeemable for domestic and overseas five-stars. A one-night stay experience in a first-class hotel! Very tall and worth raising.

However, the threshold for applying for this credit card is relatively high and requires the applicant to have certain qualifications. However, if you apply with a platinum card from another bank, the probability of applying for the card will be greatly increased, and recently Pudong Development Bank The bank’s platinum card is free, and those who have been rejected before can also give it a try.

3. GF Premium Platinum Card

The main benefits of this card are also in terms of travel, including discounts on air and rail. At the same time, this card also has 3 times the points, which can be redeemed for miles, so if you want to maintain a Guangfa credit card, this card can also be considered. The most important thing is that this is a platinum card with no annual fee and you can redeem miles at no cost. Like it or not!

4. Ping An Bank Car Owner Card

Almost all car owners will consider getting a truck owner card, because there are many targeted benefits and discounts, and Ping An’s card is even more popular among many car owners. It's all available, with 12% off on refueling every day, as well as 1.1 million yuan of personal accident protection insurance and free roadside assistance nationwide, making it irresistible to drivers. This card is divided into gold card and silver card. If your qualifications are average, you can consider the gold card, but gas is discounted, so it doesn’t matter which one you apply for.

5. Bank of Communications Wal-Mart Co-branded Card

If it is used in daily life, the benefits of this card are very good, because this card is almost specially designed for us to go to the supermarket. , and it is not difficult to apply, many people can apply easily. Because it is jointly launched with Wal-Mart, there are many super-value benefits for consumption at Wal-Mart. For example, every Saturday to Thursday, you can enjoy a 2.5 credit card discount when you shop at Wal-Mart. There is no annual fee for this card in the first year, and there is no annual fee for the following year if you swipe the card 6 times in that year. It is also easy to maintain. Just go to Wal-Mart a few times on weekends to buy things.

The above are the 5 most worthwhile credit cards that the editor has compiled for you. They are also the most widely used credit card types at the moment. However, although the credit card benefits are good, the editor still hopes that everyone can Use your card wisely to avoid becoming a card slave.

The 5 most worthy credit cards

1. China Merchants Bank Young Card: This card is a credit card with a low application threshold. College students who have just started working can apply, and This card can increase your credit limit quickly and is more suitable for card maintenance in the early stage.

2. Ping An Car Owner Card: This is a credit card suitable for car owners and friends to maintain their cards. Car owners can get corresponding discounts when using this card to refuel.

3. Bank of Communications Wal-Mart Co-branded Card: This is a co-branded card between Wal-Mart and Bank of Communications. Users have corresponding discounts when shopping at Wal-Mart. It is suitable for users who often do home shopping.

4. ICBC World Struggle Card: ICBC’s Struggle Card is also a credit card with a low application threshold and a fast limit increase speed. Novice card users can choose to upgrade the card.

5. Everbright Bank Taopiao Piao Cool Black Co-branded Card: This is a credit card co-branded by Everbright Bank and Taopiao Piao. Users have corresponding discounts when purchasing tickets on Taopiao Piao. It is suitable for young people to apply for and Keep the card.

Note: Listed in no particular order.

According to Article 7 of the "Regulations on the Supervision and Administration of Credit Card Business of Commercial Banks": A credit card refers to a credit card that records cardholder account information, has bank credit lines and overdraft functions, and provides cardholders with relevant banking services. All types of media.

Credit cards stipulated in the relevant laws of our country ("Interpretation 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, transfer settlement , cash deposit and withdrawal and other full or partial functions of the electronic payment card. 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.

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. Credit cards refer to credit cards in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; quasi-credit card It refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund as required. When the reserve account balance is insufficient to pay, the cardholder can overdraw within the prescribed credit limit. The so-called credit card generally refers to a credit card only.

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 credit card overdraft interest rates will be cancelled. The daily interest rate is 0.7 times 5/10,000).

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

That’s it for the introduction of the five credit cards.