Credit card is our usual consumption tool, and it is also a kind of consumption loan. It is a consumption mode of borrowing money from the bank in advance by using credit card quota, but compared with the traditional consumption loan, it is somewhat different. What are the specific differences between the two? Let me summarize for you. What is the difference between credit card loan and traditional loan consumption

1. The loan amount is different. Although credit card is also a kind of consumer loan, its credit line is generally between thousands and tens of thousands of yuan, while the traditional consumer loan line is as high as millions. Therefore, if you have large capital consumption demand, you'd better choose traditional consumer loans. You can choose credit card loans for small loans.

2. The scope of application is different. When applying for a consumer loan, the borrower must provide a true and reliable proof of use, that is to say, the loan needs to be earmarked, while the credit card has a wide range of applications, and there is no need to provide any proof of use, so it is simpler and more convenient to operate and easier to make payments.

3. The installment period is different. After spending by credit card, the borrower can apply for installment, but the installment period is generally only three years at the longest, while the traditional consumer loan period can be up to five years, and the turnover time is longer.

4. The application procedures are different. The application procedure of consumer loan is complicated, and the bank's approval is strict, and the loan is slow; However, it is relatively easy to apply for a credit card. As long as you can provide stable proof of work and income and proof of identity, you can easily get approval, and the approval time is short. If you want to make a quick loan, you can choose a small credit card loan.

5, the use cost is different. Credit cards have a certain interest-free period of up to 56 days, which means that as long as you repay in full and on time within the specified time, the issuing bank will not charge interest; However, traditional consumer loans have no interest-free period, so as long as the borrower succeeds in obtaining the loan, he has to pay interest. To sum up, customers who need small funds and get loans quickly can choose to apply for a credit card, and the credit card micro-loan can be used to make quick payments, which is easy to operate. Customers with large capital requirements and long turnover time can choose to apply for consumer loans. However, the cost of credit card loans is lower, and loans can be made faster ~