Is there a handling fee for credit card repayment?

Whether there is a handling fee for credit card repayment depends on the repayment method and repayment channel.

Generally choose to repay in full without any fees or interest. If you choose to repay in installments, repayment fees will generally be charged based on the number of installments. When you choose the minimum repayment amount for repayment, there is generally no handling fee, but recurring interest will be charged at a daily interest rate of 0.5%.

To repay a credit card on WeChat, you need to pay 0.1% of the repayment amount as a handling fee, and to repay a credit card on Lakala, a 0.2% handling fee will be charged. There is generally no handling fee when repaying money at bank counters or ATM machines. There is no handling fee for automatic repayment when binding a debit card from another bank. When binding a credit card from another bank for automatic repayment, a handling fee of 0.1% to 0.2% of the amount will be charged. When repaying through online banking, most banks do not charge handling fees. Currently, only a few banks charge a handling fee of 0.1% of the amount.

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.

Application method:

Application:

In most cases, those with full capacity for civil conduct (citizens over 18 years old in mainland China), Citizens with certain direct financial resources can apply for a credit card from the card issuing bank. Sometimes, legal persons can also be applicants.

Applicants for credit cards can be divided into units and individuals. Applicants should be institutions, enterprises and business units, foreign-funded enterprises and individual industrial and commercial households with independent legal person status in my country. Each unit applying for a credit card can receive a main card and multiple (5-10) supplementary cards as needed. To apply for a credit card, an individual must have a fixed occupation and a stable source of income, and provide a guarantee to the bank. The forms of guarantee include personal guarantee, unit guarantee and personal capital guarantee.

The application method is generally by filling in a credit card application form. The content of the application form generally includes the name of the applicant, basic information, economic status or source of income, guarantor and his/her basic information, etc. And submit certain copies of documents and certificates to the card issuing bank. After the customer fills in the application form truthfully according to the content, the customer must also submit the relevant credit certificate while submitting the completed application form. The application form is accompanied by a credit card use contract. The applicant authorizes the card-issuing bank or relevant departments to investigate its relevant information, and submits a statement of the authenticity of the information, the card-issuing bank's privacy protection policy, etc., and must have the applicant's signature.

Review:

After receiving the application form and relevant materials from the applicant, the card-issuing bank must review the applicant's creditworthiness. The content of the review mainly includes whether the content of the application form is true. The creditworthiness of the applying unit must be evaluated, and the relevant circumstances of the guarantor must also be reviewed for individuals.

Usually, banks will judge whether to issue a credit card to the applicant based on the application information and various aspects of the applicant's information and financial situation. Factors considered include the applicant's past credit record, the applicant's known assets, professional characteristics, etc. The specific factors and processes reviewed by the card issuing bank are commercial secrets and are generally difficult for outsiders to understand. The standards of each card-issuing bank are also different. Therefore, the same materials may be issued with different credit limits and different types of credit cards in different banks. Some banks may even approve the application, while others may reject it. .

Card Issuance:

After the applicant successfully applies for a credit card, the card issuer will open a separate credit card account for the cardholder at the card-issuing bank for settlement after shopping, consumption and cash withdrawal. .

Card opening:

Since the card is sent by mail after the credit card application is approved, there is no guarantee that the recipient is the applicant. In order to protect applicants and banks from fraud losses, the credit card has set up a card opening procedure before it is officially launched. Card opening is mainly done by phone or online. The relevant personal information provided during the application is checked. Once the information is met, the card opening process is completed.

At this point, the applicant becomes the card holder and can officially start using it after signing on the back of the card. After opening a credit card, you generally need to set up a password for the card.

After accepting a credit card, a credit card merchant or bank must review the validity of the credit card and the identity of the cardholder.

Identification:

The credit card must have at least the following information:

Front: name and logo of the issuing bank, credit card number (organization logo) and holographic anti-counterfeiting mark ,, English or Pinyin name, activation date (generally calculated to month), validity date (generally calculated to month), the latest issued card is equipped with a chip on the front, and the chip account and the card magnetic stripe account are two relatively independent accounts.

Back: Card magnetic stripe, cardholder signature field (signature required after activation), service hotline number, last four digits or all of the number (to prevent fraudulent use), credit card security code (on the back of the credit card) On the signature line, the three digits immediately following the last four digits are used for credit card activation, password management, television, telephone and online transactions, etc.).

Authorization:

The merchant and bank confirm that the credit card is valid, and contact the bank to request authorization according to the contract signed with the card issuer. Authorization is to further confirm the cardholder's identity and the amount that can be used. Authorization is generally made when the usage amount specified in the contract is exceeded.

After receiving the authorization notice, the card-issuing bank will issue an authorization instruction based on the deposit balance of the cardholder's deposit account and the bank's agreement to allow overdraft, and reply whether it agrees to conduct the transaction.

Use:

Credit cards are usually only used by the cardholder himself. Lending them to others is generally a violation of the use contract.

Cancellation:

Before canceling a credit card, the account balance must be cleared. The entire process of canceling the card must be completed within 45 days after the application is submitted.

Is there any handling fee for credit card repayment?

Generally, the repayment provided by banks does not need to pay the repayment handling fee, but if the repayment is done through a third-party institution, Then a certain handling fee will be charged according to different repayment situations. After using a credit card for consumption, the cardholder needs to repay the debt on time. The current repayment methods mainly include WeChat repayment, Alipay repayment, bank APP repayment, and online payment. Bank repayment and ATM machine repayment, etc.

1. If a user uses Alipay on the mobile phone to repay a credit card, no handling fee will be charged whether he is repaying himself or repaying for others. However, if you use Alipay on the computer to repay, whether there is a handling fee depends on the situation. If you repay the credit card with the same name as the Alipay account, no handling fee will be charged. However, if the user uses Alipay to repay others, the computer Alipay will charge a repayment fee, which is 0 or 20% of the repayment amount, with a minimum of 2 yuan per transaction and a maximum of 25 yuan per transaction. Alipay's free limit is limited to 2,000 yuan and is free of handling fees. That is to say, Alipay stipulates that from March 26, 2019, users will be charged a service fee for credit card repayments using Alipay. Each person has a free limit of 2,000 yuan per month. The portion exceeding 2,000 yuan will be charged a service fee of 0.1%. In addition, when the quota is insufficient, users can directly obtain free quota by redeeming points and borrowing free quota from friends. The free limit is uniformly 2,000, and a 0.1% service fee will be charged for the excess. This means that if the repayment amount is 5,000 and the total exceeds 3,000 yuan, the service fee will be 3 yuan.

2. WeChat can now also carry out some financial transactions, supporting functions such as loans, financial management, payment, transfers and credit card repayments. There is a handling fee for WeChat credit card repayment. Each user has a cumulative free repayment limit of 5,000 yuan per month. If the amount exceeds 5,000 yuan, a repayment handling fee of 0.1% of the repayment amount will be charged.

3. Currently, there are still some users who are not good at using mobile phones to make repayments. They will choose ATM machines to repay credit cards. Generally, there is no handling fee for repayments using our bank's ATM machines. Generally, banks have their own mobile APP, and users can make repayments through mobile phones. There is no need to pay handling fees for repayment through mobile APP.

I pay off my credit card according to the minimum payment every month. Will there be any handling fees?

Interest is required but no handling fee is required.

The minimum repayment amount is only 10% of the total overdraft, which may seem easy, but it may not be true.

After the minimum repayment amount, although you can continue to enjoy revolving credit, you will no longer enjoy the interest-free repayment treatment. The bank will also charge interest on the entire consumption amount at a daily interest rate of 0.05% starting from the date when the consumption is recorded. The annual interest rate is 0.5%. Up to 18.25%.

The minimum repayment amount is generally to repay 1/10 of the overdraft amount of the month, while installment repayment means dividing the original one-time repayment amount into several installments. Currently, many banks’ credit cards only require a single payment. When your consumption reaches a certain amount, you can enjoy the installment repayment function.

Experts have calculated that credit card installments may not be more cost-effective than car loans. Assume that a consumer uses bank installment payment to purchase a car worth 100,000 yuan, and the repayment is divided into 24 installments. If the handling fee rate is 7.0%, the first month's handling fee will be 7,000 yuan, and the monthly repayment will be 4,166.67 yuan.

If the consumer goes to the bank to apply for a car consumer loan, based on a two-year benchmark interest rate of 5.40%, the total interest required to be paid is 5,400 yuan. The latter can save 1,600 yuan compared with the former.

Extended information:

New regulations on credit cards in 2019:

The maximum interest-free period for credit cards may exceed 60 days. According to the current "Bank Card Business Management Measures", the interest-free repayment period for credit cards is up to 60 days, and the minimum repayment amount in the first month must not be less than 10% of the overdraft balance of the month. The new regulations relax the above restrictions, and the specific operation methods are decided by the card issuing bank.

The minimum repayment amount is determined by the bank independently. Before the new regulations, the minimum credit card repayment limit was 10% of the overdraft consumption limit; after the new regulations, the minimum credit card repayment limit in the first month is determined by the bank.