Recently, the central bank "loosened" the credit card overdraft interest rate, which triggered a heated discussion among netizens. According to the notice of the central bank, the upper and lower limit of credit card overdraft interest rate is loosened from 202 1 1, which is no longer mandatory, and is determined by the issuing bank and the cardholder through independent consultation.
Previously, according to the regulations of the central bank, the upper limit of the daily interest rate of credit card overdraft was five ten thousandths, and the converted annual interest rate was about 12.6%, which was not low or even a little high. After canceling the upper and lower limits of credit card interest rates, it means that the marketization of loan interest rates will be further promoted.
How will the credit card overdraft interest rate go after the central bank loosens the rules?
Industry analysts believe that in the short term, the bank's credit card interest rate may not change much, but in the long run, with the further fierce competition in the credit card market, it is imperative to lower the interest rate.
Credit card interest rate is the main source of income for card-issuing banks, which consists of overdue interest after the cardholder borrows money and interest after withdrawing cash in advance. Even a few banks charge high annual card fees to further promote cardholders' consumption. It is foreseeable that canceling the upper and lower limits of credit card overdraft interest will be beneficial to banks with strong credit cards. In order to increase their competitiveness and win customers, some small commercial banks will inevitably reduce interest to a relatively low level; At the same time, banks may also implement ladder interest rates according to customers' grades. The higher the grade, the lower the overdraft interest rate.
The fierce competition of credit cards will counter online credit consumption loans such as flower buds.
It has to be said that before the "birth" of online credit consumption loan products such as flower buds and borrowing buds, credit cards were definitely the king of credit loans and the necessary items for consumers to consume in advance. The birth of flower buds and borrowing buds, using their own platform advantages, robbed the credit card market.
Previously, bank credit cards were not the "opponents" of online loan consumer loans in terms of interest rates. Compared with the daily interest rate of credit cards, the daily interest rate in Bai Hua can be as low as about two ten thousandths. In contrast, consumers will definitely choose consumer loan products with lower interest rates. This time, the central bank has loosened its grip, and credit cards can regain the "territory" they once owned with "high quota and low interest rate".
For consumers, the reduction of credit card overdraft interest rate is undoubtedly a good thing, but it is worth noting that loosening does not mean leaving supervision. The central bank clearly stipulates that credit card issuing banks must clearly mark the overdraft interest rate of credit cards in official website in time and update it in time.
However, compared with the cancellation of the upper and lower limits of credit card overdraft interest rate, users are more concerned about the interest-bearing method of credit cards. If the overdraft is 10000 yuan and the repayment is 9999 yuan, the interest will still be calculated at 10000 yuan. Is this reasonable?