Is Shanghai Xiaoying Card an online loan? As people’s demand for funds increases, various online loans have gradually become the first choice for people to solve financial bottlenecks and urgent need for money. Among them, Shanghai Xiaoying Card is It is one of many online platforms, but many people still have many questions about Xiaoying Card. Let’s learn more about it below.

Is Shanghai Xiaoying Card an online loan?

Xiaoying Card Loan is an online loan. Xiaoying Kadai is a legal Internet financial company founded in 2016 and headquartered in Shanghai. The company provides convenient lending services, mainly for individual users with good credit. The loan amount is within 10,000 yuan and the term ranges from 3 to 12 months. It is an online credit card repayment installment service product developed by Xiaoying Technology. Users can repay their credit card bills in installments through Xiaoying Cardai, thereby achieving short-term capital turnover.

What will happen if the Shanghai Xiaoying Card is overdue?

(1) Penalty interest will occur

When your loan is overdue and you do not repay it, you will be charged daily Calculate interest. The longer the overdue period is, the higher the interest will be. If it is not paid off this month, compound interest will be calculated next month, and the interest will snowball.

(2) Impact on credit

Shanghai Xiaoying Card application meeting will have a credit check, so overdue credit records will also be left on the credit report, which will affect future credit card applications. Bank loan.

(3) Collection

If your loan is overdue, you will encounter various means of collection, such as text message collection, phone collection, and even door-to-door collection, which will make you extremely annoyed. bother.

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