I saw an advertisement for Huanbei in Moments. I would like to ask if Huanbei is legal?

We now occasionally see some Moments when browsing WeChat Moments. Advertisement, a friend recently told me that he saw an advertisement for Huanbei in his circle of friends, and the content of the advertisement stated that users can use Huanbei to repay credit cards, with interest rates starting at 50% off. Because I have recently planned to repay my credit card in installments, I was a little tempted when I saw the advertisement for the low interest rate of repayment. I wanted to repay the credit card through repayment, but I was worried that the repayment was not legal and legal, so I was very confused.

In fact, the Huanbei platform is a credit card repayment platform launched by Chongqing Focus Small Loan Company. Chongqing Focus Small Loan Company is a licensed financial institution. Being licensed means that the company has obtained Recognized by the country, the business it launches is a formal and legal business, and there are currently not many licensed financial institutions in the loan industry. Therefore, Huanbei is also a rare regular player in the loan industry and is a formal and legal platform.

If users want to apply for a Huanbei loan credit card, the application method is relatively simple. Users only need to download the Huanbei app, then use their mobile phone number to register and log in. After logging in, follow the prompts to authenticate and bind. After setting your own credit card, you can apply for a loan according to the app prompts.

After the application is successful, Huabei will lend the corresponding amount directly to the credit card bound to the user, and the user can repay the loan amount in installments later.

In addition, the slogan of 50% off interest in Huanbei’s advertisement is not meant to deceive users. Generally, new users use Huanbei to repay their credit cards, and the interest on the repayment is generally the same as bank credit card installment fees. The installment fees applied for by different users are also different, but they will ultimately be lower than bank credit card installment fees. This is one of the important reasons why everyone now likes to use Huanbei for credit card repayments.

However, although Huanbei is relatively formal and its loan comprehensive interest rate is relatively low, I suggest that you do not use Huanbei too much for credit card repayments. When we use credit cards to make installment repayments, the bank can earn installment fees from it. If the user uses Huanbei to make installment loans, it means that the bank will have no money to make. Therefore, if the user frequently uses Huanbei to make repayments on his behalf, the bank will find out. Afterwards, the bank is likely to reduce the user's limit or impose other penalties on the user.