The Guangzhou Bank credit card is a trap.

Guangzhou Bank credit cards are also divided into gold cards and platinum cards. Platinum cards are further divided into elite cards, airline cards, etc. Different card types have different functions.

Disadvantages:

1. The application requirements are very strict

All you need is a work permit and ID card. But only those with household registration in Guangzhou, Jiangmen, Foshan, Shenzhen, Nanjing, Huizhou, Zhongshan, or those with a bachelor's degree or above, or those who have purchased provident funds, or institutions (schools, hospitals, institutions) can apply.

2. Generally speaking, the probability of passing the review is relatively low. If you don’t have a unit, it’s best to have real estate, cars or other fixed assets under your name. Or if you have a stable source of income, you can also go to the bank where the transaction occurs to obtain a bank statement and apply to the bank. If your income source is relatively stable, your application success rate is still very high.

Moreover, GF’s new pitfall: tiered management of overdue liquidated damages. New regulations were released in March, and China Guangfa Bank implemented tiered management of overdue penalty fees for credit cards. The so-called cascade management means raising prices secretly. If a cardholder fails to repay the minimum repayment amount of each bill on time for more than 2 consecutive months (inclusive), the penalty rate for the unpaid portion will be increased from 5 to 6. In addition, depending on the credit score of cardholders (i.e., the "reliable value" of Guangfa Bank's credit cards), the minimum charge limit for liquidated damages is also different: if the score exceeds 750 points, the minimum charge is 10 yuan, and if the score exceeds 620 points to 750 points, the minimum charge is 20 yuan. Scores below 620 will be charged a minimum of 30 yuan.

In addition, Guangfa Credit Card only has a one-day grace period. Yes, it’s only one day, once a year. You can’t miss it and you have to call to apply. Different from the three-day grace period of most banks, GF is willing to use hard lessons to help customers develop the habit of repaying on time. In addition, GF's tolerance is only 9.99. Some cardholders said that they once paid 10 yuan less, but the customer service said no, the tolerance is not higher than 10 yuan, so they can pay 9.99 yuan less, but not 10 yuan less.

: The reasons for failing to pass the credit card application review include: the applicant’s insufficient repayment ability. The applicant’s insufficient repayment ability will involve two aspects. One is the applicant’s income. If the applicant’s income exceeds If it is too low and exceeds the bottom line of the credit card issuance limit, the bank will reject it. The other aspect is whether the applicant's job is stable. Many applicants have a high income, but due to unstable sources of income, such as self-employed people, the bank will worry about the applicant's future repayment ability and may reject the application.