After the regulation of cash loans, the industry shrank, and long borrowers were almost out of ammunition. Surprisingly, banks entered the industry at this time and issued a large number of credit cards (debit cards). A huge industrial chain has emerged again, and a large number of intermediaries have returned to the credit card (debit card) field. Because the People's Bank of China's credit information and mutual financial data have not yet been connected, old people with overdue online loans can successfully apply for credit cards (debit cards) after being packaged by an intermediary. And the intermediary business is booming again, with some people earning more than 5 million a month.
The bank’s rash entry has been questioned by the industry: Is this to reap the ultimate fruits of cash loans, or to become a takeover?
"History will always reincarnate." Ping Heshan, a large agent, recently reviewed his history in the agency industry at an agency gathering with a smile. He entered the industry 10 years ago and made his first fortune by helping customers apply for credit cards. Three years ago, with the rise of online loans, he switched to online loans and made a lot of money. Now, he has returned to his old business and started to issue credit cards. Unexpectedly, the business is astonishingly good, with a monthly income of more than 5 million. A large number of intermediaries are returning to the credit card (debit card) field from online loans.
"This wave of banks is crazy. Many banks have issued targets to increase the number of card issuances by 10 times in half a year, and the threshold has been set very low." Ping Heshan said that some credit cards (debit cards) for the sake of momentum have been approved. The card rate will be as high as 90%. Now, intermediaries package information for customers, which is “easier than online loans.”
Intermediaries are also aware of certain banks’ internal “white lists”. "For local star companies, the bank's risk control system may open a back door. If the customer's comprehensive score is high, the customer will be reviewed directly without a call back," Zhang Wenwu said. "We will set up call forwarding on the customer's mobile phone, and the bank's electronic review will be transferred to us." Zhang Wenwu said. How do intermediaries learn about these risk control rules? Within the intermediary, there is also a "card application procedure" widely circulated.
If you want to apply for multiple credit cards (debit cards), the order of submission is important. First apply for CITIC, followed by Ping An, Xingye and Pudong Development Bank. One day after these four companies have completed the payment, they will then start paying to other companies, such as Minsheng, Guangfa, China Everbright, and China Construction Bank. The Bank of Communications has many return visits and the pass rate is low, so it can be placed at the end. Zhang Wenwu said. This sorting is particularly interesting: put those with fast risk control and good batch cards at the front, and the more difficult ones at the back. How do credit card (debit card) intermediaries charge? "We will charge an intermediary fee of 10% according to the approved card limit." Zhang Wenwu said.
In other words, if you help a customer place a credit card (debit card) with a limit of 30,000 yuan, he will charge 3,000 yuan. Another intermediary, Li Shaowen, said that the industry usually charges customers an intermediary fee of 10%-15% depending on the card approval limit.
For those customers who are fully packaged and whose quota is between RMB 70,000 and RMB 80,000, 20% of the agency fee can be received. Because of this, credit card (debit card) intermediaries are also a hugely profitable industry.
"I will develop many downlines below. When they acquire customers, I will give them a commission, and they can earn tens of thousands a month." Ping Heshan said that the idea of ????MLM has been used to the extreme by them. . Among the intermediary army, there are also many "salesmen at bank credit card (debit card) centers".
In addition to promoting credit cards (debit cards) themselves, they also develop downlines and recruit intermediaries to help them complete their business volume. "Because the unit price per customer is higher than that of online loans, our income now is higher than when we were an online loan intermediary," Ping Heshan said. "Many people in the online loan group are actually credit card (debit card) users, but their credit limit is not enough for them to spend, so they borrow online loans." Ping Heshan said that now these users can be brought back to credit cards (Credit Card) field.
Many long-term borrowers of online loans have entered a new stage: using credit cards to support loans. "90% of the people who come to me for help are long-term borrowers." Zhang Wenwu said, "After getting a credit card (debit card), they will withdraw cash to repay online loans." Among Li Shaowen's customers, 60% All have a history of long lending.
Just when the supervision of cash loans became stricter and long-term borrowers could no longer "borrow new to repay old" and use loans to support loans, banks suddenly opened the door. In 2017, the number of credit cards (credit cards) issued in China increased dramatically. By the first quarter of 2018, the cumulative number of credit cards (credit cards) issued nationwide had reached 612 million.
Intermediaries have discovered that as the credit card (debit card) market sinks, some pure white accounts (that is, customers who have not applied for a credit card) who were rejected by banks in the past few years have also begun to be welcomed by some banks. . The large-scale opening of bank gates once made some users "survive the crisis". In the second quarter of 2018, Zhang Sinan, a long-term loan user, "escaped from death" because of an Everbright Platinum Card.
He has worked with more than a dozen small loan institutions and has been living a life of "borrowing new loans and repaying old loans". Because of proper planning, he has never been overdue. But the situation is getting worse and worse - he is on the blacklist of a certain big data risk control company, it is getting harder and harder to renew the loan, and the limit is getting lower and lower. His capital flow was about to be cut off.
With the help of the card application agency and relying on the China Merchants Bank Platinum Card, ID card and social security information, he successfully applied for an Everbright Platinum Card. "Ebright should have approved card approval indicators at that time, so the review was relatively loose." Zhang Sinan recalled.
But at first, in order to prevent the borrower from bypassing him and applying directly to the bank, the intermediary did not tell him which bank he was applying to. "The price is that I paid a high intermediary fee." Zhang Sinan said, "If I hadn't been short of money at the time, I definitely wouldn't have applied."
The limit of this card is 50,000, and the intermediary fee is 2,500 Yuan. In addition, this card has an annual fee of 1,188 yuan, of which 688 yuan can be offset with 100,000 points. In any case, with this credit card (debit card) that only requires a minimum monthly repayment of 10%, Zhang Sinan no longer has to humble himself and seek help from his mother. In fact, the Everbright Platinum Card was once the favorite of intermediaries: the credit limit is high, usually 30,000 to 50,000, so the handling fee is also high.
Why can a "black account" with an extremely bad online loan record still be able to apply for a credit card (debit card)? Many people in the industry pointedly pointed out that this is because the data between the mutual financial credit investigation and the People's Bank of China credit investigation are not connected. The issuance of credit cards (debit cards) depends on the People's Bank of China's credit report; the granting of online loans depends more on big data.
There is a huge gap between the two that has not been filled. "It's not that banks don't want to use long-term lending data, but the current mutual financial data is a bit messy, with different sources and cannot be verified." A bank practitioner said frankly. As a result, an interesting cycle has emerged: credit cards (debit cards) are gradually becoming a life-saving straw for long-term borrowers, "using cards to support loans."
Faced with such a large-scale bank opening, people will ask: Are banks harvesting the fruits of cash loans, or are they becoming the ultimate takeover? In this crazy wave of customer acquisition, banks’ delinquency rates are rising. According to data from the central bank, in the first quarter of 2018, the total outstanding credit of China's credit cards (debit cards) that was overdue for six months was 71.148 billion yuan, a month-on-month increase of 7.29%. By the second quarter, this figure was 75.667 billion yuan, an increase of 6.35% from the previous quarter.
Industry insiders believe that this round of retail expansion of banks is undoubtedly on the way to becoming a takeover. Fortunately, some banks that sensed danger signs began to slowly tighten their credit card (debit card) business. "In May and June this year, the approval of credit cards became more stringent. Starting from July, it is not easy for Everbright to approve credit cards. Recently, GF and CITIC have been particularly strict." Zhang Wenwu said. "Now out of ten people, only two can pass," he said.
He found that banks would run secondary checks on suspicious users. Many of his customers have also had their accounts reduced, for example from 10,000 to 8,000. Li Wenshao, a bank practitioner, said that not long ago, the head office of his bank sent resident risk directors to the credit card (debit card) departments of branches in various locations. Some branches with a large number of customers have begun to strictly check the Internet entry channels-if they involve POS machines, card application and maintenance agencies, local distribution, p2p financial management, and cash loans, they will be excluded.
He said that the head office will also provide a blacklist. If the credit card (debit card) department's cooperative enterprise's entry channel appears among them, it will be offline. But many banks are still taking risks. "Some banks have not completed their KPIs this year and are preparing to make another push at the end of the year." Ping Heshan said that recently, there have been signs of loosening. Long-term borrowers are also becoming more and more unscrupulous - for a limit of 10,000, they are willing to pay a handling fee of 2,000, as long as they can get the card approved.
The girl who applied for an ICBC credit card (debit card) to pay off the cash loan has already been depleted and can only rely on selling houses at home to pay off the debt. And her family background is actually mediocre.
Although he is working as an intermediary, deep down in his heart, Li Shaowen has always been worried about over-indebted young people.
When helping many young people with multiple loans to apply for credit cards, he would ask one more question: "What should I do if I owe so much and can't pay it back?" "It's okay, there must be a way." The answer is often no hesitation. Few people can remain rational in the face of money.