Moreover, the temporary quota has a certain validity period, generally between 30 days and 45 days. After the expiration, the quota will be restored to the original fixed quota, so as to remind everyone to spend reasonably and avoid overspending. In a word, our temporary credit card limit must be paid off in full when it expires, and it cannot be repaid by installments. If you can't repay in full when due, the unpaid part will lead to the overdue of your credit card, which will not only lead to high penalty interest, liquidated damages and late payment fees, but also affect our personal credit information, laying a hidden danger for handling cards, withdrawing cash and handling loans again in the future.
1. Once the temporary credit card limit expires, do I need to pay it off?
Pay off in one lump sum. The temporary credit line used after the expiration of the temporary credit line (exceeding the fixed limit) is included in the minimum repayment amount of the latest bill and needs to be paid off in one lump sum on the repayment date. If the temporary limit does not expire, it has nothing to do with the repayment time, as long as the bill amount is repaid on time according to the bill before the repayment date of this period. The temporary repayment date of the credit card is the bill repayment date of the cardholder; Whether there are the same rules as credit card consumption, such as grace period and overdue fee. For the part that has used the temporary limit, you can also try to apply for installment, but whether the application is successful and the final amount that can be installment is subject to the comprehensive evaluation result of the credit card center.
2. How often can I apply for a temporary credit card limit?
Mainly depends on the rules of the issuing bank (different banks have different rules). For example, some banks' credit card temporary quotas are valid for 30 days, and they can reapply after the expiration, which is equivalent to applying once a month. This is the case with China Merchants Bank. However, the number of applications for temporary credit card quotas in some banks is limited each year. For example, China Industrial and Commercial Bank stipulates that the number of applications for temporary credit card transfer exceeding the total amount cannot exceed four times a year, which means that ICBC can only apply for a temporary credit card limit once every three months.
If you don't know how often a credit card can apply for a temporary credit line, customers can directly call the customer service hotline of the issuing bank to consult the bank staff. However, if most banks want to apply for a temporary credit line, they usually need to use the card for more than three months. If it is a new credit card, it is impossible to apply for a temporary credit line. As for the quota, it usually takes more than half a year to apply for promotion.