Cash withdrawal by credit card is one of the inherent functions of credit card itself. Cardholders can withdraw cash from the bank by credit card. Credit card withdrawal mainly includes overdraft withdrawal and overpayment withdrawal. You need to pay interest for overdraft cash withdrawal, and the interest will be calculated from the day you withdraw cash, while the overpayment cash withdrawal does not require interest, only a part of the handling fee, depending on the bank's regulations.

The overdraft withdrawal amount is set according to the cardholder's use of the card, and the maximum is not more than 50% of the cardholder's credit limit. The daily limit of ATM withdrawal is 2000 per person per card. In addition to the withdrawal fee, domestic and foreign overdraft withdrawals also need to pay interest, and some banks can enjoy interest-free treatment.

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Precautions for cash withdrawal by credit card

1. The withdrawal part cannot be repaid in installments.

If you withdraw cash by credit card, the withdrawal part cannot be repaid in installments, and many bank credit cards are fully included in the minimum repayment amount. In other words, how much cash you withdraw must be paid back on the repayment date, and it must be paid off in one lump sum. There can be no default or insufficient repayment amount, otherwise it will be overdue and directly affect the credit investigation.

Second, the handling fee is high.

The handling fee for withdrawing cash from different banks is also different. Generally, the handling fee for cash withdrawal by credit card is between 1%-3%. In addition, cash withdrawal means that you can't enjoy the interest-free period, and the bank will charge the cardholder a certain interest. The interest shall be calculated on a daily basis from the bookkeeping date, with the daily interest rate of 15000 until the debtor pays off the debt.

Three. Withdraw the business that affects the application amount.

For the bank, after taking the demand behavior, the bank will think that the cardholder's repayment ability is insufficient and it is difficult to apply for cash withdrawal, so it is best not to do cash withdrawal business. Credit card withdrawal cost is high, and it can't be phased, which is easy to cause greater repayment pressure.

Reference source:

Baidu encyclopedia-credit card withdrawal

Baidu encyclopedia-credit card