1. Cash installments

In order to cope with the increasingly rampant credit card arbitrage behavior, many banks have launched cash installment services. Its purpose is to satisfy customers who are short of money and in urgent need of money, and it opens a legal channel for using cash. Different from cash withdrawal, cash installment needs to be applied for. After the bank approves the application, the credit card limit will be converted into cash according to the amount applied by the cardholder, and transferred to the designated debit card. The cardholder can return it according to the designated number of installments. In addition, it is worth our attention that cash installments can generally be divided into 1, 3, 6, 12, 24, and 36 installments. Once confirmed, the period number and amount cannot be changed, let alone canceled.

2. Cash advance

Cash advance is also called cash withdrawal. This method is the simplest. Just take your credit card to the ATM machine to withdraw cash. You can also apply to borrow money into a designated savings card through the APP and credit card online banking. Although the method is the simplest, cash advance also has shortcomings. For example, the advance limit can only reach 100 of the credit limit. If the limit is smaller, it will not be of much use. In addition, cash advance loans have handling fees and interest. The handling fee is generally 1-3 times per transaction of the cash withdrawal amount, and the handling fee is 0.05 per day.

3. Credit card loan

For large purchases, such as car purchases, renovations, etc., banks will grant a certain loan amount based on the cardholder’s credit status, and then the cardholder will There are two ways of repaying the principal: repaying the principal and repaying in installments. For credit card loans, we need to pay attention to five aspects, namely loan term, handling fee, down payment, limit and payment time. Among them, the credit card loan period generally does not exceed 36 months, and the minimum period is not less than 1 month. The handling fee is a one-time fee. The fees of each bank are different and will be amortized into each expected repayment amount. The calculation method is: handling fee = installment amount × handling rate. In addition, credit card loans are mainly aimed at large purchases, so the necessary condition is that you have to pay the down payment amount, usually 10-30. In addition, credit card loans also have limits. Depending on the applicant's credit rating, the general loan amount is 20,000-200,000. After approval, payment will generally be issued within 7 working days.