Loop credit card is a new type of fraud that advocates consumption first and repayment later.

The scam is promoted through videos. The specific promotion content is:

"There is a kind of credit card that is not known by most people. It is called a revolving credit card. We will help you apply for it. Regardless of whether your credit report is qualified or not, we can help you apply for it. Cardholders have a fixed monthly limit of 50,000 yuan, and can withdraw an amount of 70 yuan per month, which is 35,000 yuan, and repay 100-200 yuan the next month. , the limit returns to 50,000 yuan. In this way, 35,000 yuan can be withdrawn, and so on every month! In this way, the cardholder can cash out 420,000 yuan from the card for free! , Unlimited, no overdue, interest-free, reusable! ”

According to the relevant information obtained by the police, when citizens apply for this “revolving credit card”, scammers have prepared a variety of methods to empty your money! pocket.

For example, to use this kind of "revolving credit card" normally, the cardholder must pay a membership upgrade fee ranging from 6,000 yuan to tens of thousands of yuan. Once you pay in full, the scammer will also offer "quick cash withdrawal" "Limit increase" and other serial schemes trick you into continuing to spend money.