1. What is the universal fund of Shanghai Pudong Development Bank? Although the universal fund of Shanghai Pudong Development Bank is nominally a credit card loan, its essence is a credit loan, which can be said to be a credit loan issued by the bank in disguise based on a credit card. In other words, for loans exceeding the credit card limit, the bank will charge a certain handling fee without approval. Users can control it freely and even cash it directly. The "universal money" personal credit business issued by Shanghai Pudong Development Bank was first tried out in early 2007. Relying on the credit card, the cardholder's cash withdrawal limit is increased without occupying the credit limit. However, it is also different from pilots. First, interest rates are different. At the time of the pilot, the one-year interest rate was about 12% to 14%, and now it is 8%. Secondly, other bank debit cards can also be processed during the pilot period. At present, Pudong Universal Fund is limited to the debit card of Shanghai Pudong Development Bank.
Of course, the universal fund of Shanghai Pudong Development Bank also has some shortcomings. First of all, its advantage is that it does not occupy the credit card limit of the credit card itself, that is, it takes a sum of money for nothing; If your cash flow is difficult, the universal fund may save you; Can be repaid in installments. The interest rate is lower than the credit card withdrawal rate. The third installment has the lowest total handling fee, the 24th installment has the lowest monthly handling fee and the 36th installment has the lowest monthly repayment amount. Then its disadvantage is that it does not support prepaid. You need to pay liquidated damages for prepayment, and charge 3% of your prepayment principal at one time; Therefore, the universal fund of Shanghai Pudong Development Bank can be borrowed, but attention should be paid to its use and repayment. Be sure to think it over before borrowing it.
Every month, when the credit card reaches the reconciliation date, it will contain the amount you need to repay. Even if the credit card has the lowest monthly payment, there is no need to worry about overdue repayment. You can choose Alipay to enter the credit card according to the bill amount. In addition, your bill includes universal fund and consumption, so after you repay it, it will be credited the next day. Part of the Universal Foundation has been removed, and the rest can be recovered within your card limit.