Credit card loans and consumer loans are borrowing money, spending first and then repaying, and the consumption pattern is the same. So many people basically can't tell the difference between the two. So what's the difference between consumer loans and credit cards?
1. There are differences between consumer and credit card repayment methods. Consumer loans can be repaid regularly, while credit cards can be repaid in full, in installments or at the minimum repayment amount, which provides more convenience for cardholders.
2. Consumers and credit cards are different in the convenience of application. Consumer loan application is troublesome, complicated and strict, and usually takes a long time. In many cases, applicants need to provide more supporting documents, even mortgages and guarantees. Applying for a credit card is relatively easy. Customers can apply for credit cards through offline outlets of banks, official website, WeChat and mobile apps. In the application process, you only need to provide personal information and application materials such as work certificate and income certificate. Credit card approval time is relatively short, and it is more convenient to apply.
Consumption and credit card are different in cost. Consumer loans do not enjoy interest-free period, and lenders need to repay each installment on time from the effective date of the loan, so the loan cost is inevitable. Credit cards enjoy a maximum interest-free period of 50 -56 days, during which cardholders can freely overdraw. As long as the repayment is made in full before the due repayment date, there is no need to bear the capital cost.
There is a difference between consumption and credit card in the scope of use. Generally, bank consumer loans will be earmarked for cardholders. For example, housing loans can only be used to buy a house, car loans can only be used to buy a car, decoration loans can only be used for decoration, and consumer loans can only be used for specific types of consumption. Credit cards are more widely used and relatively flexible. After applying for a credit card, all merchants who can pay by credit card can pay by credit card.
The above is the introduction of the difference between consumer loans and credit cards, hoping to give you some reference.
What is the business process of Huaxia Bank's featured product consumer credit loan card?
1. If the borrower applies for a personal comprehensive consumer loan and is approved by the bank, he can use a consumer credit loan card to repay the loan.
2. After the loan is approved, fill in and sign the Application for Account Opening of Consumer Credit Card for Individual Customers, Huaxia Bank Personal Bank Account Management and Consumer Credit Card Use Agreement, and open consumer credit cards at outlets.
3. The borrower uses the consumer credit loan card to pay independently.
There is a kind of consumer loan. You buy a card and then withdraw it. What is the name of the loan?
This is called a credit card loan. A credit card means that you need to spend money in a designated online mall before you can get a loan. General consumption will exceed the loan amount. Credit cards that appeared in the market before all put interest first and induced consumers' consumption through low-amount loans. Lending is risky, so be careful when choosing.
Credit card consumption loan
Credit card consumption loan application conditions: 1. China citizens with full capacity for civil conduct, aged between 18 (inclusive) and 60 (inclusive).
2. It has legal and valid identity certificate and household registration certificate (or valid residence certificate) of the place where the loan bank is located.
3 have a stable source of income and the ability to repay the principal and interest of the loan in full and on time.
4. Have a good credit record and willingness to repay, without any illegal acts and bad records.
5. Obtained a risk level of Grade B or above in the retail internal rating system of China Industrial and Commercial Bank.
6. ICBC's stock customers should have more than 4 stars.
7. Open a personal settlement account in China Industrial and Commercial Bank.
Credit card consumption loan application method:
I. Mobile Banking
1. Enter the loan amount (from 600 yuan to the current maximum loanable amount), choose the loan term (from 2 months to 24 months), choose the purpose of the loan, and choose whether to apply for a grace period (if the loan exceeds 12 months, you can apply for not repaying the loan for the first 6 months, and repay the loan in equal amount every month from the seventh month).
2. Select collection and repayment; Enter the mobile phone number to receive the verification code, and the verification code passes; Read and accept the Personal Credit Consumer Loan Business Agreement, and click Next.
3. The customer confirms or fills in the customer information and contact information according to the page prompts to confirm the loan information.
4. After confirmation, you need to use a U shield or an electronic cipher for authentication.
5. Click "Next" and the application is successful.
Second, online banking.
1. Enter the loan amount (from 600 yuan to the current maximum loanable amount); Select the loan term (from 2 months to 24 months); Choose the purpose of the loan; Choose whether to apply for a grace period (if the loan exceeds 65,438+02 months, there is no need to repay it in the first 6 months, and the equal monthly payment will be made from the seventh month); Select collection and repayment; Enter the mobile phone number to receive the verification code, and the verification code passes; Read and accept the Personal Credit Consumer Loan Business Agreement, and click Next.
2. The customer confirms or fills in the customer information and contact information according to the page prompts to confirm the loan information.
3. After confirmation, you need to use a U shield or an electronic cipher for authentication.
4. Click "Next" to apply successfully.
Credit card consumption loan application amount:
ICBC's credit consumption loan amount is 600 yuan-300,000 yuan, which spans quite a long time. The bank will approve your available line according to your credit status. Whenever the end of the year, the beginning of the year or the festival approaches, ICBC will increase the credit limit for cardholders with good credit standing and frequent card swiping, generally by 10%-30%.
Ways to increase the quota:
1, personal credit record is good. It is very important for the borrower to have a good credit record when applying for a personal loan from ICBC. Generally speaking, individuals with good credit records can increase the personal loan amount accordingly.
2. The borrower has certain fixed assets under his name. Apply for personal loan from ICBC, even if it is unsecured personal loan, if the applicant can provide proof of real estate, car, etc. under his own name, the personal loan amount of ICBC can be increased.
3. The borrower has social security card and provident fund. If the applicant's unit has been paying five insurances and one gold, then when applying for personal loan from ICBC, the applicant can also provide these certificates to the lending institution or increase the loan amount to a certain extent.