"Chopping hands" made me feel happy for a while, and I shed tears when I paid back the money. With the arrival of "Double 11", credit consumption has reached a peak. What should I do if I have no money to repay my credit card when it expires? Recently, many APPs have appeared on the market for repaying credit card loans, claiming to be able to temporarily repay the loan when you have no money to repay it, and the rates are ultra-low. Is this type of APP reliable?
Financial Media Reporter Wang Shu
Citizen: After filling in the information but not disbursing the loan
Recently, Mr. Wang, a citizen, because his credit card loan was about to expire, and Money was a little tight, so I thought about borrowing money through a mobile phone APP to temporarily repay the money. Unexpectedly, after filling in the mobile phone number, ID number, name and other information, the other party rejected his application for repayment. This made Mr. Wang very angry: "What about the promised three-minute loan and the promised lower handling fee than the bank? In the end, there is no limit. Isn't this a lie?"
Reporters searched online It was found that there are many apps that repay credit card loans, such as "Kakadai", "Wolaidai", etc. These apps basically claim "low rates", "high quotas" and "quick credit extension". In terms of rates, most of them offer a 30% discount on ordinary bank rates. In terms of terms, many APPs even claim that they can lend money in 3 minutes, which is very tempting.
Experience: The procedures are complex and the review is strict
So what procedures are required to repay a credit card loan? The reporter downloaded an APP to try it out. After successfully registering with his mobile phone number, he bound the credit card that needed to be repaid, and then filled in information such as ID card, name, home address, etc. as required. The other party directly refused because the information was incomplete. Application for repayment. Subsequently, the reporter tried to download another APP. The process of this software was more complicated. It not only required filling in materials, but also required facial recognition. After the reporter opened his mouth, blinked, and nodded according to the other party's request, the identification was finally successful. The system also asked for clear photos of the front and back of the ID card, etc. Due to the large number of steps, the reporter finally gave up the operation.
The reporter saw that the download reviews of these apps were more negative than positive. Some people said that they failed to pass after a long time; others said that they passed, but the amount was only 2,000 yuan, which was far from the advertised 50,000 yuan; there were also a small number of netizens who said that they got the loan, saying that the APP was indeed Relatively easy.
Relief: Credit reporting affects the loan amount
The industry insider also said that in fact, the loan amount and interest rate are also comprehensively evaluated based on various aspects of data, and different people will have different opinions. As a result, regardless of the low interest rates and high credit limits advertised by APPs, if they are actually operated, these APPs may not necessarily have more advantages than banks.
Opinion: The risk is not small and it is recommended not to use it
Regarding this type of APP that repays credit card loans, Chen Yong, legal manager of Huaian Rural Commercial Bank, said that this is essentially a small amount Online lending is just that the borrowed money is used to repay the credit card loan first and then repay it in installments. During the process of filling in information, users may face the risk of information leakage. "Mobile phone number, name, profile picture, ID number, bank card number, etc. are all a person's core information. If this information is mastered by the other party, it is difficult to ensure that the other party has strict confidentiality measures."
Chen Yong said that there used to be many such online small loan companies, but starting from the second half of 2018, the state has strengthened the supervision of such companies, requiring them to be approved by the China Banking and Insurance Regulatory Commission. The mixed situation in the online loan market has been effectively alleviated, and the financial The risk is greatly reduced. After my country implemented the LPR interest rate in 2019, in order to support the development of the real economy, major commercial banks continued to lower loan interest rates. Some banks also launched their own financial investment companies and launched small loan products with lower interest rates, which further compressed the online small loan market. loan company’s living space.
Chen Yong believes that since the risks are uncontrollable and the interest rate advantage is no longer available, when citizens are in urgent need of economic turnover, it is best not to try online loans, and it is recommended to choose regular commercial banks for borrowing.