Can I borrow money with a credit card?

"Yes" The credit card you just applied for can be used for loans, but you need to pay attention to the loan amount you apply for. The loan amount should be within your ability. Usually the monthly repayment amount should not exceed 50 of the total household income; the purpose of the loan must be legal and compliant; repayments must be made on time to avoid a bad credit record.

1. Credit card, also called credit card, is a credit certificate issued by a commercial bank or credit card company to consumers with qualified credit. It takes the form of a card with the issuing bank's name, validity period, number, cardholder's name and other contents printed on the front, and a magnetic stripe and signature strip on the back. Consumers holding credit cards can shop or consume at specially designated commercial service departments, and then the bank will settle the accounts with merchants and cardholders. Cardholders can overdraft within the prescribed limit.

2. Credit cards stipulated in the relevant laws of our country ("Interpretation of the Standing Committee of the National People's Congress on Relevant Credit Card Provisions") refer to credit cards issued by commercial banks or other financial institutions with the functions of consumption payment, credit loans, An electronic payment card with full or partial functions such as transfer settlement, cash deposit and withdrawal, etc. On December 1, 2017, the "English Translation and Writing Standards in Public Service Fields" was officially implemented.

3. Credit cards are divided into credit cards and quasi-credit cards. A credit card refers to a credit card in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; quasi-credit card A debit card refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve as required. When the reserve account balance is insufficient for payment, the card can be overdrafted within the specified credit limit. The so-called credit card generally refers to a credit card only.

4. Application

Applicants for credit cards can be divided into units and individuals. Applicants should be institutions, enterprises and business units, foreign-funded enterprises and individual industrial and commercial households with independent legal person status in my country. Each unit applying for a credit card can receive a main card and multiple (5-10) supplementary cards as needed. To apply for a credit card, an individual must have a fixed occupation and a stable source of income, and provide a guarantee to the bank. The forms of guarantee include personal guarantee, unit guarantee and personal capital guarantee.

5. The application method is generally by filling in a credit card application form. The content of the application form generally includes the name of the applicant, basic information, economic status or source of income, guarantor and his basic information, etc. And submit certain copies of documents and certificates to the card issuing bank. After the customer fills in the application form truthfully according to the content, the customer must also submit the relevant credit certificate while submitting the completed application form.

6. The application form is accompanied by a credit card use contract. The applicant authorizes the card-issuing bank or relevant departments to investigate its relevant information, and submits a statement of the authenticity of the information, the card-issuing bank's privacy protection policy, etc., and must Has the applicant's autograph.

Can I borrow money with the credit card I just applied for? Try these methods

Many card friends have just applied for a credit card and want to use the credit card to borrow money in urgent need. However, considering that they have not used the card much, they are worried that the bank will not lend them money. In fact, you can borrow money with the credit card you just applied for, and there are many ways to choose from.

How can I borrow money with the credit card I just applied for?

1. Credit card cash advance.

This is one of the basic functions of a credit card. Usually if the card you just applied for is successfully activated and there is an available limit on the card, you can apply for a cash advance to borrow money. The maximum borrowing limit is the credit card's available limit. 50. If there is a temporary limit in the card, the cash withdrawal amount will also increase.

However, there is a lot of pressure to borrow money and repay it in this way, because there is no minimum repayment, and you cannot pay it in installments. You have to repay it in full after the bill comes out. Unless it is a last resort, try to do as little as possible After all, a handling fee may be charged, and interest is calculated at a daily interest rate of 0.5%.

2. Credit card loans.

Many banks provide special installment amounts beyond the limit, which can be regarded as loans issued in the form of credit cards. However, many newly-applied cards cannot borrow money, and only apply for a loan directly after being approved. A newly approved credit card, but this type of credit card is a carrier of loans and cannot be used for overdraft consumption like ordinary credit cards.

For example, Bank of Communications’ angel loan will issue a designated credit card after successful application. Then go to the branch to activate the credit and angel loan limit simultaneously. Use the angel loan limit by swiping the card within the validity period, and then repay the money to the credit card. .

Can I get a loan with a new credit card? Pay attention to these matters

Many banks' credit cards, in addition to overdraft consumption, can also provide cardholders with cash loan services, such as China Merchants Bank e-Bank Loan, Pudong Development Bank, etc. Some cardholders’ credit cards are newly applied for, so can they also be used for loans? Let’s find out together.

Can I get a loan with a new credit card?

Credit card loans are actually credit card special cash installment services. They are services that only high-quality customers can enjoy. These customers usually accumulate slowly after using the card for a long time, because the bank will comprehensively evaluate the card holders when lending. The person's credit conditions, card usage, etc., and if the credit card usage time for the newly applied for is not up to standard, the bank will not be assured of approving the loan.

So if you want to get a loan with the new version of the credit card, you must use the card for at least 6 months, and you must also develop good card usage habits, spend more with the card, standardize the use of the card, and repay on time. Buy financial products at the card-issuing bank, apply for a bank card, and pay transactions, etc. Once your overall score is improved, you will easily be invited by the bank to apply for a loan.

Notes on credit card loans:

1. Seize the opportunity: Many banks can apply for mobile banking and official website WeChat, but they also encounter failure in approval after submitting the application. If If a bank invites you to apply by phone, this is relatively stable, but you should pay attention to the loan term, amount, fees, etc.

2. Keep the voucher: After the credit card loan is processed, the bank will ask for the consumption voucher at any time to verify whether the purpose of the funds is consistent with the reason submitted during the application. If it cannot be submitted, or the submitted voucher does not pass, The installment loan may be terminated early and the remaining principal and handling fees may be repaid in one go.

Can I apply for a loan immediately after I just applied for a credit card?

Yes.

The "Interim Measures for the Management of Personal Loans" has corresponding provisions:

Article 11 Personal loan applications should meet the following conditions:

(1) The borrower is a citizen of the People's Republic of China with full capacity for civil conduct or an overseas natural person who complies with relevant national regulations;

(2) The purpose of the loan is clear and legal;

(3) The loan application amount, term and currency are reasonable;

(4) The borrower has the willingness and ability to repay;

(5) The borrower’s credit status is good and there are no major bad debts Credit record;

(6) Other conditions required by the lender.

Extended information:

Relevant legal provisions of the "Interim Measures for the Administration of Personal Loans":

Article 34 If the borrower pays himself, the lender shall Make a prior agreement with the borrower in the loan contract to require the borrower to regularly report or inform the lender about the payment of loan funds.

In terms of the purpose of the loan, it is emphasized that loans without designated purposes are not allowed, and loan funds are managed and controlled clearly through the lender's entrusted payment or the borrower's independent payment, without targeting specific types of personal loan business. Apply to set additional conditions.

Article 35 Lenders should establish an effective full-process management mechanism for personal loans, formulate loan management systems and operating procedures for each loan type, clarify the corresponding loan objects and scope, and implement differential risk management. Establish an assessment and accountability mechanism for each loan operation link.