Car loan credit card (debit card) can be used normally after paying off the car loan. After paying off the car loan, the user can call the bank customer service to inquire whether the credit limit and related functions of the card have been restored. If it returns to normal, then this card can continue to be used for credit card (debit card) and consumption. When the bank stipulates that the card has no function after paying off the car loan, then the user can only apply for a new credit card (debit card).
Whether the car loan credit card (debit card) can continue to be used after the car loan is paid off depends on the regulations of the issuing bank.
Are car loans and credit cards still useful after repayment?
Generally speaking, the car loan credit card cannot be used after repayment. Car loan credit card is specially used for car loan repayment, which can be used continuously within the validity period of the card and automatically become invalid after the amount is paid off. However, you can apply for a new credit card from the bank, and the bank will give you a higher amount after paying off the car loan. At present, in some banks, car loan credit cards can be used as credit cards, giving customers more money than monthly, and can also apply for withdrawal for normal credit card consumption and online payment.
Why is the mortgage not automatically released after the car loan is paid off?
The reason why the car loan is not automatically released after it is paid off: 1. A car without a mortgage can't be traded. In fact, if we don't let go of the car mortgage, the control of the car will not be in our own hands. Therefore, as long as the car mortgage is not lifted, the car is not considered as its own property right and cannot be traded in the bank. If you want to sell a car or apply for a loan, it will be blocked, so it is very important to cancel the car loan. 2. After deducting the last month's mortgage payment, you can get your mortgage back from the bank that handles the installment payment in about 10 working days. It is best to call the bank customer service phone in advance to check whether all customer service calls have been settled, which can be found on the back of the repayment card; 3. For car loans handled by financial companies, you can call the customer service phone number of the financial company you belong to or go to the car dealer for consultation. You must also get a motor vehicle registration certificate. You must hold your ID card to get other possible procedures: motor vehicle driving license, bank repayment details, etc.