Bank of China will determine whether it meets the requirements and credit limit according to the personal financial certificate and comprehensive credit status submitted when you apply for a credit card. Finally, please refer to the actual approval results. General credit card limits range from 0 to 2 million yuan.
The above contents are for your reference. Please refer to the actual business regulations.
How to buy a house with a credit card
The funds needed to buy a house are huge, and many families can't afford to buy a house at once, so they turn to credit cards to solve the problem of insufficient funds. Do you know how to buy a house with a credit card and what you need to pay attention to when buying a house with a credit card? Now let's have a look.
First, how to buy a house with a credit card
Buying a house with a credit card means paying the down payment of the house with a credit card, and then applying for a house loan at the bank. However, if you use a credit card to buy a house, the credit card amount must be enough, and the amount used should not be too large, otherwise you need to pay back the credit card and loan later, which is very stressful.
Second, what should I pay attention to when buying a house with a credit card?
1. If you are going to use the funds in your credit card to pay the down payment, it is likely to affect your credit card. Because the down payment of the house is relatively high, the funds that can be withdrawn by a credit card are limited, and how long it takes to withdraw enough down payment by using a credit card, but the pressure of repayment in the later period will be even greater.
2. For most credit cards, the temporary limit can be adjusted, and this limit cannot be used at will, which has a great influence on the personal later period. This is because the temporary line cannot be used for revolving credit and repayment in installments. In other words, it is very difficult to repay tens of thousands or even hundreds of thousands a month.
3. If you use a credit card to pay the down payment and later use a bank loan to buy a house, in this case, in addition to the monthly payment, there is also a credit card, and a person's monthly payment is limited, which may easily lead to psychological burden and even lead to overdue, which will affect personal credit information.
Here's how to buy a house with a credit card and what to pay attention to when buying a house with a credit card. You got it? Although it is feasible to buy a house by credit card, the pressure in the later stage is very great. If you have the strength, it is best not to use a credit card for the down payment.
How to get a credit card loan? How much can I borrow?
Credit card loan process:
1. You need to apply for a credit card from the bank and submit relevant supporting materials, such as identity certificate, income certificate and work certificate. , and your personal credit is good;
2. Waiting for bank approval;
3. After approval, you can get a card with a certain credit limit granted by the bank.
After the applicant activates the card, he can swipe his card to buy the required goods. However, after the credit card is overdrawn, the cardholder must repay in full and on time to avoid leaving a bad credit record.
Credit card loan definition:
Credit card loan is a credit card installment business launched by banks. The loan amount that cardholders can apply for is generally 200,000-200,000; There are three stages: 12 months, 24 months and 36 months. There is no loan interest rate for credit, and banks only charge fees. The fee rates are different at different stages.
Credit card loan terms
1. Hold the credit card of the bank applying for loan;
2. Good card use record;
3. There are restrictions on the types of credit cards, such as China Merchants Bank business card, official card, purchase card, ANA guarantee card or supplementary card, and cash installment business is not supported;
4. Cash installment funds shall not be used for investment (including but not limited to equity investments such as house purchase, stocks and futures), but only for consumption (including but not limited to decoration, household appliances, wedding, car purchase, student aid, tourism, medical care, etc.). ).
Six banks support credit card loans:
At present, Industrial Bank, Guangfa Bank, Ping An Bank, China CITIC Bank, Shanghai Pudong Development Bank and Huaxia Bank provide credit card loan functions.
At present, the application for credit card loan business is not very strict. As long as you have good credit and no bad repayment record, you can generally apply. The main methods used by banks are telephone invitation or active application by customers. In this way, they can apply for loans ranging from 5,000 to 200,000.
Credit card lending business is only suitable for short-term borrowers. They can be used on it, but they are not suitable for long-term borrowers. Because after the credit card transfer, although the cardholder can repay the loan in installments, the longer the installment time, the higher the interest. The monthly interest rate of 12 installment is about 0.75%, which means that 10000 yuan will have interest from 75 yuan. If you borrow 50,000 yuan in advance, 12 installment repayment, the monthly interest rate is 0.75%, and the annual interest is 4,500 yuan. At present, the interest rate of personal loans for six months to 1 year (inclusive) is 6.06%, and the interest rate of loans for more than five years is 6.60%. Compared with traditional loans, the cost of credit card transfer loans will be higher.
The difference between credit card loans and consumer loans
The scope of use of the two is different.
Generally, bank consumer loans will be earmarked for cardholders. For example, housing loans can only be used to buy a house, car loans can only be used to buy a car, decoration loans can only be used for decoration, and consumer loans can only be used for specific types of consumption. Credit cards are more widely used and relatively flexible. After applying for a credit card, all merchants who can pay by credit card can pay by credit card.
The cost is different.
Consumer loans do not enjoy interest-free period, and lenders need to repay each installment on time from the effective date of the loan, so the loan cost is inevitable. Credit cards enjoy a maximum interest-free period of 50 -56 days, during which cardholders can freely overdraw. As long as the repayment is made in full before the due repayment date, there is no need to bear the capital cost.
The convenience of application is different.
Consumer loan application is troublesome, complicated and strict, and usually takes a long time. In many cases, applicants need to provide more supporting documents, even mortgages and guarantees. Applying for a credit card is relatively easy. Customers can apply for credit cards through offline outlets of banks, official website, WeChat and mobile apps. In the application process, you only need to provide personal information and application materials such as work certificate and income certificate. Credit card approval time is relatively short, and it is more convenient to apply.
The two repayment methods are different.
Consumer loans can be repaid regularly, while credit cards can be repaid in full, in installments or at the minimum repayment amount, which provides more convenience for cardholders.