How to borrow money with a credit card? There are only three ways to borrow money with a credit card
1. Cash installment
In order to cope with the increasingly rampant credit card arbitrage behavior, many The bank launched a cash installment business. 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.
Where can I get a loan if I have a credit card? Try these
Credit cards have many benefits. Not only can they provide overdrafts for consumption, but they can also help us get loans quickly. As for where we can get loans, banks must be given priority. Many bank credit cards can provide exclusive large-amount loans. Here are some cash loan services to introduce to you.
1. China Merchants Bank e-loan
China Merchants Bank e-loan is a short-term cash credit business with daily interest calculated by China Merchants Bank for eligible credit card holders. The maximum borrowing limit is 30W, which can be divided into up to 24 installments. There are two ways to repay the principal and interest in equal amounts, and you can borrow and repay at any time. After the application is successful, a separate account will be opened and the bill will be issued together with the credit card bill, but it needs to be repaid separately into the e-Zhao Loan account.
2. GF Caizhijin
nbspCardholders who have opened their GF cards for more than half a year can apply for GF Caizhijin. The application amount must be an integral multiple of 1,000 yuan, with a minimum of 2,000 yuan. After the application is successfully approved, the amount will be directly transferred to the domestic personal savings account designated by the cardholder. You can choose to repay in 6, 12, 18 or 24 monthly installments, with a handling fee of 0.75 per installment.
3. Industrial Bank Xingye Xingdai
Industrial Bank provides high-quality credit card holders with a one-time cash consumption limit in addition to the fixed limit of the credit card. The business model and standard pricing of this business It is completely consistent with the existing cash installment business, but it can only be applied by invited customers. After successful application, it can be transferred to your own Industrial Savings Card or other bank first-class cards, but an inter-bank transfer fee of 20 yuan per time will be charged.
4. Agricultural Bank of China’s consumption reserve fund
means that the cardholder applies for an installment limit from Agricultural Bank of China. After successful approval, Agricultural Bank of China will transfer the consumption funds to the designated credit card, and the cardholder will repay the principal in installments. And the business of paying a certain amount of installment fees is currently mainly targeted at high-quality credit card customers in the industry.
How to borrow money with a credit card
How to borrow money with a credit card?
When users hold a credit card, they can borrow money in the following two ways:
1. Apply for credit card cash installment. Now many banks have opened credit card cash installment business. If you want to apply for credit card cash installment, the cardholder needs to take the initiative to go to the bank to apply. After approval, the bank will convert the amount applied by the cardholder into cash and deposit it into the designated debit card.
2. To apply for a cash advance, users can directly take their credit card to the bank's ATM machine to withdraw money. Currently, there are handling fees and interest for cash advances. The handling fee ranges from 1% to 1% of the cash withdrawal amount. Three percent, interest is 0.05 per day.
How to borrow money with a credit card?
If you hold a credit card, you can borrow money in the following three ways:
1. Apply for credit card cash installment: the cardholder takes the initiative to go to the bank to apply, and the bank will review it. After approval, the amount applied by the cardholder will be converted into cash and deposited into the designated debit card, and the cardholder can return it in the designated number of periods.
2. Apply for cash advance: Users can take their credit card directly to the bank's ATM machine to withdraw money;
3. Credit card loan: For large-scale purchases such as car purchases and decorations , the bank will grant a certain loan amount based on the cardholder's credit status, and the cardholder will repay the loan in two ways: one-time principal repayment and installment repayment.
This ends the introduction on how to borrow money with a credit card and how to borrow money to buy a car with a credit card. Did you find the information you need?