If I pay off a credit card in advance but then charge it off, does it count as repayment? Pay attention to these matters

In order to create a zero bill, many cardholders will pay off the credit card in advance after the credit card statement comes out, and then withdraw the money they paid back. However, repaying a credit card in advance and then wiping it off does not necessarily count as repayment. Even if it counts as repayment, we do not agree to do this frequently because it is not conducive to maintaining the credit card limit. Let’s take a look below.

If I pay off a credit card in advance but then charge it off, does it count as repayment?

This mainly depends on whether the repayment amount has arrived before the card is swiped. After all, many bank credit cards are debited the next day. If you repay in advance on the same day and then swipe it out immediately, this may not be counted as repayment, so it is recommended to start swiping the card the next day after repaying in advance.

As for the credit card limit after being credited, if it is operated before the bill comes out, you still have to repay it this month. And if the credit card is swiped after the early repayment, there is no need to repay this month, and the amount swiped will be included in the next bill.

For example, if you spend 3,000 yuan on a credit card and the bill is paid on the 15th, you will pay the 3,000 yuan to the credit card in advance on the 11th. After the account is credited on the 12th, the previous overdraft will have been paid off. If you continue to swipe the card for 5,000 yuan without repayment, you will have to pay back 5,000 yuan after the bill comes out on the 15th. If you swipe the card again after the 15th, you will not have to repay this month, and you will have to wait until next month to repay.

It should be noted that regardless of whether early repayment of a credit card and then swiping it out is considered as repayment, in order not to affect the limit maintenance, the following card swiping behaviors must be avoided:

1. Repeated swiping of the card at the same merchant or the same type of merchant within a short period of time, especially for large repayments, can easily be considered as illegal use of the card;

2. Swipe out the repayment on the same day. , firstly, it is not confirmed whether the repayment amount will be received, and secondly, it will also be considered as cashing out;

3. Swipe the card during non-business hours of the merchant, such as jewelry stores, breakfast shops, etc. in the middle of the night .

Is there any impact if I use the credit card after it has been paid off?

Is there any impact if I use the credit card after it is paid off?

Every purchase we make is actually monitored by the bank. Many cardholders have no choice but to do this in order to avoid overdue credit reports being affected. However, the risk of such repayment is actually very high. The bank will determine that you are performing illegal operations and are very taboo about such card use. At worst, your credit limit will be reduced by the bank, and at worst, your card will be frozen and blocked by the bank.

For users who often do this, the bank will determine that your debt ratio is high and your repayment ability is poor. If the bank grants you a high credit limit, the risk will increase, and it will naturally reduce the risk and implement risk control measures for you.

Credit card repayment has a period of time that allows cardholders to have sufficient time to prepare funds for repayment. This period is from the statement date to the repayment date. Many cardholders think that credit card repayments must wait until the repayment date. In fact, we can make repayments when the statement comes out.

As long as the credit card is repaid and the credit limit is restored, we can use it directly. Because credit card repayments only look at the income and not the outgoings. What this sentence means is that when we pay back the debt on the billing day or repayment day, it means that our debt this month has been paid off. The amount consumed after the repayment is completed will be calculated on the next billing date and will not be disbursed until the next month.

Literally speaking, there is absolutely no problem in using such a credit card. When the repayment date arrives, you will not only pay off this month’s bill, but you will also avoid the problem of overdue credit and penalty interest. On the surface, there is no problem, but in fact, this repayment method still has a great impact.

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).

After repaying a credit card in advance, can I use it again?

Hello everyone, I am a home financial manager, a bank practitioner who focuses on sharing investment and financial management knowledge and skills. After repaying a credit card in advance, you can generally "swipe the card again", but there are also some special reasons why you cannot "swipe the card again." The specific reasons are analyzed as follows:

1. Under normal circumstances, repayment in advance can "swipe the card again"

When the credit card is in a normal state, repayment before the due payment date ( That is, repayment in advance) can be "re-swiped". For example, Xiao Wang's credit card limit is 10,000 yuan, August 15 is the repayment date, and the repayment amount is 8,000 yuan. Xiao Wang recently made a large purchase of 6,000 yuan and wanted to pay by swiping his card.

When the repayment was not made in advance, the credit limit of Xiao Wang's credit card was only 2,000 yuan, which was not enough to pay the 6,000 yuan payment. Therefore, Xiao Wang repaid 4,000 yuan in advance, and the available credit limit on his credit card returned to 6,000 yuan (2,000 yuan + 4,000 yuan), and he could pay for the large purchase of 6,000 yuan.

2. Special reasons may lead to the inability to "re-swipe the card" after early repayment

1. Temporary limit

If the previous credit card consumption was a temporary limit of the credit card If you repay the loan in advance when the temporary limit expires, the temporary limit for the early repayment cannot be used by "re-swiping the card". For example, the normal limit of Xiao Wang's credit card is 5,000 yuan. Last month, Xiao Wang applied for a temporary credit limit of 5,000 yuan due to large purchases. The temporary limit expired on August 15. Xiao Wang repaid 5,000 yuan in advance. When he swiped his card again on August 20, the temporary limit of 5,000 yuan was gone (that is, it was taken away by the bank).

2. Suspicion of overdraft

If the credit card is deemed to be suspected of overdraft by the bank, then after the early repayment, the bank will lock the limit, making the credit card unusable. . For example, in early July, Xiao Zheng paid off a credit card debt of 10,000 yuan in advance, and then swiped the card for 10,000 yuan in a friend's tobacco store, but was unsuccessful. After consulting the bank's credit card center, I learned that the bank suspected that Xiao Zheng was "cash-out" and rejected the card payment. Because the bank believed that under normal circumstances, the amount of cigarettes purchased would not exceed 10,000 yuan, it deemed the transaction a "cash-out."

3. Card suspension status

Some credit cards have frequent malicious cash-outs, or the cardholder is in a situation of insufficient repayment ability, and the bank will stop the use of the credit card ( Commonly known as "stop card"). A credit card that is in a suspended status is "receive only, not pay", that is, it can only make repayments but cannot make purchases with the card. For a credit card in this status, after repayment in advance, the card cannot be "swiped again".

4. Restricted merchants

Sometimes, the status of the credit card is normal, but the merchant where the card is used for payment is not. In this case, after repaying the loan in advance, a "transaction failed" message will appear when swiping a card at this merchant. Why is this happening? Because the bank detects that the merchant's product sales are abnormal and frequently helps cardholders cash out, the bank will restrict the merchant's credit card consumption of larger amounts (for example, more than 3,000 yuan).

Finally, a friendly reminder to friends, now is the era of big data. Banks can monitor the card usage behavior of cardholders through various methods, and can easily detect whether cardholders have abnormal usage such as cashing out. card behavior. For minor card violations, the bank will take warnings, limit reductions and other punitive measures; for more serious card violations, the bank will directly implement measures such as "reducing the credit limit to zero" and "stopping the use of credit cards" to ensure that the bank Funds are safe. Therefore, everyone must use cards in compliance with regulations, maintain a good card-using image, and cherish credit records.

Is it okay to pay off my credit card today and use it again today?

I paid off my credit card today and use it again today. Is it okay?

If the credit limit of the credit card is restored on the same day after repayment, then you can swipe the card at this time. Different repayment methods have different credit limit restoration speeds. Credit card payments are due on the due date. If you can repay on the same day, you should confirm that it has been recorded:

1. Confirm that the repayment has been recorded;

2. Continue to refresh the overdraft limit after entering;

3. Calculate the outstanding amount after it has not been recorded in the account;

4. It is recommended to call the credit card center after repayment to confirm whether the repayment has been received.

If you fail to repay in full before the due payment date and do not choose the minimum credit card repayment amount, the penalties are as follows:

1. All consumption funds will no longer enjoy interest-free repayment. The bank will calculate interest on the principal amount on a daily basis from the date of consumption, with a daily interest rate of 0.05 and monthly compound interest;

2. Receive calls and letters from the bank;

3. Freeze your account and feed your debt record to the People's Bank of China to record it in your credit file, which will affect your personal credit.

Late repayment

The consequences of overdue repayment on a credit card will be serious, and overdraft consumption should be moderate. Although the biggest feature of a credit card is its overdraft function, it actually constitutes a lending relationship between the customer and the bank. Failure to repay overdue may not only trigger legal action, but may also incur high penalties and interest. The most important thing is that it will form a bad credit record, which will have a negative impact on future work and life.

Consequences of overdue credit card repayment

After a high penalty credit card defaults, the penalty fees usually involved are recurring interest fees and late payment fees. The essence of a revolving credit is an unsecured daily interest rate. If the full amount is not repaid on the last repayment date, revolving credit interest will accrue on the next statement, and the interest needs to be calculated from the consumption record date.

Except ICBC, the other 12 banks still impose full penalty interest. Full penalty interest means that even if the customer has repaid part of the amount, the repayment portion will not be deducted when calculating the penalty interest. Interest charges are usually calculated at 0.05 of the daily interest. In addition, some banks stipulate that within 15 days from the accounting date, the daily interest will be calculated at 0.05 of the daily interest, and for more than 15 days, the daily interest will be calculated at 10.05 of the daily interest. If it exceeds 30 days or the overdraft amount exceeds the prescribed limit, the default interest will be higher. .

Notes on credit card repayment:

There are more and more new repayment methods, but the mainstream ones are online transfer repayment provided by banks and third-party POS machine card-to-card repayment. loan, telephone banking repayment and other media. If there is a fixed customary repayment pattern and repayment cycle, the monthly credit card repayments will become a "little effort" and will never take up too much time, let alone waiting in long lines at the bank.

Another reminder is that when choosing a credit card, you should ask the bank what repayment methods it supports, try to apply for a credit card with more diversified repayment methods, and don't be fooled by small profits such as "card swiping discounts" . ". After all, the convenience of a credit card is the most important thing.

This is the end of the introduction to paying off and swiping credit cards.