In fact, Industrial Bank is not the only bank that issued this regulation recently. CITIC Bank also announced that, according to the regulatory requirements, from August 25th, 20 19, the overdraft amount of new credit card withdrawals and loans will be fully included in the minimum repayment amount of the current bill.
In fact, for a wider customer base, this matter has little impact on it. For example, Shengcaijun has never "borrowed" money from a credit card, and most industry experts also call on cardholders not to use this function unless there is an emergency.
"As early as May 24, 20 19, Industrial Bank adjusted the cash advance business of UnionPay cards and Taobao co-branded credit cards, which popularized all card types this time. The adjustment of the rules means that the proportion has increased from the previous minimum repayment amount 10% to 100%. " The customer service staff of Industrial Bank explained, "If the repayment does not reach the minimum repayment amount, it will be counted as overdue, which will affect personal credit information. If you want to reduce the repayment pressure, you can consider handling the cash installment business. " The customer service staff of CITIC Bank said that up to now, the bank has not issued other relevant notices, and the provisions on interest and breach of contract have not changed.
Then, the minimum repayment "welfare" of credit card overdraft can not only make banks increase profits, attract customers, but also promote consumption. Why did you cancel it?
Dong Ximiao, deputy dean of Chongyang Research Institute of Renmin University of China, said, "This is the Notice of the General Office of the China Banking Regulatory Commission on Strengthening the Risk Management of Credit Card Advance Cash Business issued by the former CBRC on 20 17, which made some provisions on credit card advance cash." According to the notice, "in principle, credit card cash advance business does not enjoy interest-free repayment period and minimum repayment amount." If the cardholder really needs to handle the installment payment of cash advance business, the banking financial institution shall sign a business contract on the basis of reassessing the credit status and repayment ability of the cardholder, and deduct the total amount of cash advance business from the total credit line of the credit card accordingly. "
It is understood that banks such as Industrial and Commercial Bank of China made adjustments in the year when the above notice was issued, and banks such as China Construction Bank and Huaxia Bank also made adjustments one after another. "In essence, it is to implement the requirements of the regulatory authorities." The insider said.
However, it should be noted that Dong Ximiao said: "The cash interest rate of credit card advance is relatively high, with a daily interest rate of five ten thousandths and an annualized rate of 18%, so some banks are reluctant to adjust. However, in recent years, credit cards have developed rapidly and risks have risen rapidly. In the first quarter of 20 19, the total outstanding credit of China's credit cards overdue for half a year was 79.74 billion yuan, 22 times that of 2008, while the number of credit cards issued in the same period only increased by 4 times. "
On June 15, the Blue Book of Bank Card Industry Development in China (20 19) issued by China Banking Association showed that the amount of credit card transactions in China reached 38.2 trillion yuan in 20 18, a year-on-year increase of 24.9%; The credit card balance was 6.9 trillion yuan, a year-on-year increase of 23.2%.
Therefore, in addition to the implementation of supervision, the adjustment also lies in preventing financial risks. According to the published consumption survey data, China's post-90s generation has dominated half of consumer credit users, accounting for 49.3%, ranking first among Asian peers. Among them, credit card, as an important carrier of consumer finance, has become an important tool for post-90 s consumption. An industry expert said that the convenience and speed of credit cards have also caused some young people to over-consume in advance regardless of their actual ability, and even have bad behaviors such as cashing out credit cards and "raising cards with cards".
So, what impact will this adjustment of banks have on financial consumers? In Dong Ximiao's view, such an adjustment will not have a big impact on consumers in essence. "For most consumers, cash is rarely borrowed by credit cards, and it is usually spent by credit cards. Cash advances have high interest rates, but they are only used occasionally. It is not recommended as a common means. " He said.
At the same time, some experts said that borrowing cash in advance is not a good consumption habit. Whether it is the overdraft function of credit card or the function of borrowing cash in advance, we should use it reasonably and control the consumption amount. "For young users, we must use credit cards rationally and be a card god instead of a card slave. Usually, we should live within our means and spend reasonably, and all kinds of repayment expenses, including credit cards, should not exceed one-third of monthly income; Don't rob Peter to pay Paul by handling multiple credit cards to prevent the snowball of debt from getting bigger and bigger. " Dong Ximiao also reminded that credit card overdrafts must be repaid in time to avoid negative impact on credit records.