I believe that many friends hold credit cards, and some even hold multiple credit cards. Did you know? The new credit card regulations will be implemented in 2019. There are 5 major changes that can be said to be closely related to your interests. Let’s take a look at them below.

1. The interest-free period may exceed 60 days

For our card users, the interest-free service is a real discount. According to current regulations, the maximum interest-free period is 60 days. From next year, the country may relax this regulation, but the specific terms will still be stipulated by the card issuer. In fact, the editor thinks that the probability of this regulation being implemented is relatively high. For the National Bank, this regulation will not have a great impact on them, but for commercial banks or small banks, in order to attract users and enhance competitiveness, it is very possible to extend the interest-free period.

2. The card issuer independently determines the minimum repayment amount

The feeling of swiping a card for consumption is very satisfying, but after swiping, you will face the pain of repayment, such as When encountering events like Taobao’s Double Eleven, everyone can’t help but go shopping. But after excessive consumption, we may not be able to pay off the overdraft amount at once, so the minimum repayment becomes particularly important. After the new regulations are introduced, the minimum repayment amount may no longer be a fixed 10%, but will be determined by the card-issuing bank.

3. Cancel late payment fees and change liquidated damages

In the past, if you failed to repay in time, you had to pay a certain amount of late fees. After the new regulations are introduced, the collection of late payment fees will be cancelled, and the change will be considered a breach of contract. gold. But this is not just as simple as changing the name. When charging liquidated damages, the card issuer is not allowed to calculate the interest. At the same time, the annual fee, service fee, currency exchange fee, etc. are not included in the interest. It can be said that this provision is very important.

4. The overdraft interest rate can be floated

We all know that if the interest-free period is exceeded, interest will be charged. In the past, the overdraft interest rate was 10% or 50% (daily interest rate). , the same below), the new regulations stipulate that the interest rate changes from fixed to floating between the minimum and maximum limits. The maximum limit is 5/10,000, and the minimum limit is 0.7 times 5/10,000. The card issuer will adjust the interest rate according to the corresponding situation and different credit backgrounds.

5. ATM cash withdrawals are limited to 10,000 yuan per day

Although you can now go out and make purchases with a mobile phone, we still use a lot of cash many times. Although credit cards used to be used in the past, Cash withdrawals can be made through ATMs, but the limit is 2,000 yuan. After the introduction of the new regulations, the daily limit for ATM cash withdrawals will be increased to 10,000 yuan. For other cash-out services, such as transfers to personal accounts, or recharges to applications such as Alipay, card issuers will The user determines the amount after evaluation.

Through the above introduction, I believe everyone has a certain understanding of the new regulations. Hope it helps everyone.