Card-for-card repayment can be understood as when the cardholder has more than two credit cards, and when repaying the credit card, he withdraws the available limit of another credit card to repay another credit card that is about to expire. However, it is recommended not to use this repayment method as it requires high costs.

Banks will charge certain handling fees and interest for credit card cash withdrawals. The interest here is calculated on a daily basis. Most banks calculate the daily interest rate at 0.05% until the cardholder pays off all the cash withdrawal limit. Cash withdrawal fees are generally charged once.

In fact, when users have difficulty repaying their credit cards, they can use installment repayment or the minimum repayment amount. When using installment repayment here, users can choose according to their income, but the longer the installment number, the more expenses will be incurred. When using the minimum repayment amount, all consumption in the previous period cannot enjoy the interest-free period.

When cardholders cannot repay their credit card debts on time, they must restrain their consumption and do not continue to spend too much. This can reduce the consumption limit month by month, and then they can repay on time. . It should be noted that late repayment will affect your personal credit score.

Nowadays, many young people apply for multiple credit cards and cash out and repay back and forth