If you need cash, credit cards can also meet your needs. Cash installment and credit card loan are two good choices. So, which is better? Take China Merchants Bank as an example today to analyze which is better, credit card cash installment or loan.
1, cash installment
Generally, at the invitation of the bank or the initiative of the credit card holder, the amount in the credit card is converted into cash and transferred to the designated debit card, and the cardholder repays the loan in monthly installments.
2. Credit card loan
In order to meet the demand of credit card holders for cash loans, the bank's credit products and repayment methods are more flexible, and the bank will provide various loan products for different customer groups.
Let's take China Merchants Bank as an example to analyze which is better, cash installment or loan:
1) application conditions
Cash installment and loan application conditions are relatively loose, and no guarantee or mortgage is needed. If you have our credit card, you can apply directly online. However, the credit of the cardholder will directly affect the loan amount, and has little effect on the cash installment.
2) Quota
The amount of cash installment is determined by the credit limit of the credit card. China Merchants Bank can apply for a maximum amount of 50,000 in cash installments, which will occupy the credit card limit; However, the loan amount does not account for the credit card amount, and the amount is high. For example, E can apply for a loan of up to 300,000 yuan.
3) repayment method
The repayment method of cash installment is generally monthly repayment on schedule; Loans can be repaid flexibly, that is, they can be repaid with the loan or on schedule.
4) Fees for formalities
The cash installment fee rate varies according to the number of installments, and the cash installment fee rate of China Merchants Bank credit card is between 0.75% and 0.95%. If e-loan is repaid with the loan, the handling fee will be charged at the interest rate of five ten thousandths per day, and the installment repayment rate will be determined by the bank's comprehensive evaluation, which is similar to cash installment.
As can be seen from the above, which is better, credit card cash installment or loan? The key depends on the actual situation of customers' demand for cash. If the amount of funds to be turned over is small and the repayment period is short, you can choose cash installment; If the required funds are relatively large and the repayment ability is unpredictable, it is better to choose a loan.
20 18 how much is the interest of 20,000 credit card loans? The most pit is actually this bank!
Is the car loan a credit card installment or a bank loan?
Credit card installment payment is very cost-effective. There is no interest on buying a car by credit card in installments, just pay the corresponding handling fee. However, the brands and models that support this business will be limited, and the amount that can be applied for is limited. If you want to buy a luxury car, you can't choose credit card installment. However, there is no limit to the amount of car loan. Basically, all models support loan purchase, but correspondingly, it is necessary to pay more loan interest than installment payment. So you can choose the way to buy a car and a family scooter according to your actual needs. As long as the model supports, the credit card installment method is obviously more cost-effective. Attachment: Disadvantages of buying a car with a bank loan: It is difficult to apply for a traditional car loan from a bank. Consumers are required to provide a series of proof materials to the bank: ID card, work certificate, bank flow in the past year, social security certificate for more than two years (inclusive), real estate license or house sales contract or purchase invoice, etc. Third-party guarantee and pledge are also needed.
Whether buying a car is a loan or a credit card installment is like comparing.
With the continuous development of social economy, cars have become a means of transportation for many people, and buying a car has also become the pursuit of many young people. However, not everyone can pay the high cost of car purchase at one time. Many people will choose loans or installment payments. So is it better to buy a car by loan or by credit card? This paper lists the differences between buying a car with a loan and buying a car with a credit card in several aspects. As for which is better, card friends can choose according to their own situation.
I. Bank loans
The benchmark interest rate for bank loans: 6% from 6 months to 1 year, and 1 year to 3 years as the application conditions: buy a limited range of cars from a special dealer recognized by the bank, and have stable professional income or assets that are easy to realize.
Advantages: the interest rate is relatively low; The cycle can be flexibly selected, and the interest on prepayment will be saved.
Disadvantages: the loan time is relatively long; Loan approval is troublesome and strict; The down payment ratio is higher.
Second, credit card installment.
Credit card installment fee, 12 The minimum installment fee for the bill is the floating rate of each installment fee under the benchmark rate. Application conditions: stable income and no bad credit record; It is best to have real estate, and the bank has quality customers.
Advantages: low threshold for credit card installment, simple procedures and short approval time.
Disadvantages: the repayment period after installment is relatively short, the applicant's credit is required to be high, and the prepayment fee cannot be less.
To sum up, if the cardholder only has short-term financial difficulties, he can choose credit card installment. If the loan time exceeds half a year, it is recommended to choose a bank loan, which will be relatively cost-effective. Whether buying a car is a bank loan or a credit card installment, card friends must ensure that they can repay on time. I want to buy a car by credit card, and introduce the credit card application entrance; If you want to borrow money to buy a car, you can click
The threshold is low, the loan is fast, the amount is high, and the most important thing is not to charge any fees, but also to ensure the safety of personal information.
Which is more cost-effective, credit card installment or loan?
It depends on whether credit card installment or loan is more cost-effective. If the amount is not large, credit card is recommended. The cost of bank loans is low, but the procedures are cumbersome and it takes time. However, if it is 654.38+ million, credit card is better. Credit card installment is relatively simple, but the cost is high. Even if it costs several thousand yuan in stages, the cost will not be much higher.
Credit card is a credit certificate issued by a commercial bank or credit card company to eligible consumers. Credit card is a kind of card with name, expiration date, number and cardholder's name printed on the front. Consumers with credit cards can go to specialized commercial service departments for shopping or spending, and then the bank will settle accounts with merchants and cardholders, and cardholders can overdraw within the prescribed limit.
Loan refers to a form of credit activity in which banks or other financial institutions lend monetary funds at a certain interest rate and must return them. A simple and popular understanding is that borrowing money requires interest. Through loans and monetary funds, banks can meet the needs of society for supplementary funds, expand reproduction and promote economic development; At the same time, banks can also obtain loan interest income and increase their own accumulation.
The "three principles" of loans refer to safety, liquidity and efficiency, and are the fundamental principles of commercial banks' loan operation. Article 4 of the Law of People's Republic of China (PRC) Commercial Bank stipulates: "Commercial banks should operate independently, bear their own risks, be responsible for their own profits and losses, and manage themselves by themselves in accordance with the principles of safety, mobility and efficiency." 1, loan security is the primary problem faced by commercial banks; 2. Liquidity refers to the ability to recover the loan according to the predetermined period or realize it quickly without loss of land, so as to meet the needs of customers to withdraw deposits at any time; 3. Efficiency is the basis of sustainable operation of banks. For example, issuing long-term loans, the interest rate is higher than short-term loans, and the benefits are good. However, if the loan term is longer, the risk will increase, the safety will decrease and the liquidity will weaken. Therefore, the "three characteristics" should be harmonious, so that the loan will not go wrong. Interest refers to the remuneration paid by the borrower to the lender for obtaining the right to use funds. It is the use price of funds (that is, the loan principal) in a certain period of time. The loan interest can be calculated in detail by the loan interest calculator. In civil law, interest is the legal result of the client.
Can help you distinguish between credit card installment and credit loan.
Many people will ask the question that credit card installment is unnecessary and the handling fee is not low. Anyway, all major banks now provide personal microfinance services. But the two are very different in nature. Next, Cai Xiao analyzed from the following aspects.
1, the funds are used differently.
Personal credit loans are usually widely used, while credit card installment business usually focuses on providing installment payment for users' various expenses.
2. The main customers are different.
Personal credit loans are more open to customers. At present, credit card installment seems to be based on customers who have already applied for the card or specific product demand groups to carry out installment payment business.
3. Different nuclear modes.
The amount of personal credit loan is one credit and one use, while the amount of credit card installment payment is one approval and one recovery, which is very convenient for users with multiple installment needs.
4. The review process is different.
Many banks need users to provide offline application materials for personal credit loan review, and the review process has a long time limit. However, the credit card installment business can be applied in real time after the user holds the card, which is convenient and fast.
Cai Xiao concluded: Different credit institutions differ greatly in terms of audit threshold and rate, and different products have different customer base optimization and risk assessment. In the consumer credit market, compared with internet finance, the rate of credit card installment payment is relatively lower and more useful. But in contrast, the interest rate of personal credit loans is generally lower than that of credit card installment. But applying for a credit loan is much more difficult than credit card installment.
So much for the introduction of credit card installment or loan.