Does the minimum repayment of Ping An Bank’s credit card affect your credit report?
Only paying the minimum repayment of a credit card will generally not affect your personal credit. However, only the minimum repayment amount is repaid, and the bank will charge interest to the cardholder.
The minimum repayment amount is the repayment amount after the bank approves it. If you pay the minimum repayment amount on the repayment date, the bank will recognize your repayment behavior. For cardholders, the minimum repayment can reduce the repayment pressure, but a daily interest rate of about 0.05% on the remaining balance is usually charged.
Credit reporting is a Chinese vocabulary, the pinyin is zhēngxìn, which means to collect, organize, preserve and process the credit information of natural persons, legal persons and other organizations in accordance with the law, and to provide external credit reports, credit assessments and credit information consultation and other services to help customers judge and control credit risks and conduct credit management activities. From "Zuo Zhuan: The Eighth Year of Duke Zhao", "A gentleman's words are believed and conquered, so the resentment is far beyond his body." Among them, "faith and credit" means that one can verify the truthfulness of one's words, or solicit and verify credit.
Credit reporting is an activity in which a professional, independent third-party agency establishes credit files for individuals or enterprises, collects and objectively records their credit information in accordance with the law, and provides credit information services to external parties in accordance with the law. Professional credit institutions provide a platform for sharing credit information.
Credit reporting records an individual’s past credit behavior, which will affect the individual’s future economic activities. These behaviors are reflected in the personal credit report, which is often referred to as the “credit record.” Until 2012, there was no law or regulation in China's current legal system that provided a direct basis for credit reporting business activities. If you borrow money from a bank, the bank needs to know who you are; it needs to determine whether you can repay the money on time; whether you have borrowed money before, and whether you have a record of not repaying borrowed money, etc. Before the credit report appears, you need to provide the bank with a series of supporting materials: employer certification, salary certificate, etc.; the bank's loan officer will also call your employer to visit you. It may take two weeks or more before the bank will tell you whether it will lend you money. The bank is really tired, and so are you. Borrowing money is really troublesome.
The emergence of credit bureaus has simplified the way banks understand your credit status: they hand over the credit information they have about you to a specialized agency to compile it, and this specialized agency will build a credit card for you. Files (i.e. personal credit reports) are then provided to various banks for use. This kind of activity of sharing credit information between banks through third-party institutions is credit reporting, in order to improve efficiency, save time, and serve you faster. With the intervention of the credit reporting agency and your credit report, when you borrow money from the bank, the bank loan officer can check your credit report with your consent, and then spend some time to focus on verifying some issues. Let you know quickly whether the bank will offer you a loan. The bank saves trouble and you save worry. In China, the Credit Reference Center of the People's Bank of China (hereinafter referred to as the Credit Reference Center) is a specialized agency that establishes your "credit file" and provides personal credit information to commercial banks.
My credit card is from Ping An Bank! I pay the minimum payment every time! This will affect my credit__
The minimum monthly payment will not affect my tax bill letter.
1. Introduction to the minimum repayment amount of Ping An Bank’s credit card
If you choose the minimum repayment amount to repay your credit card account, you do not need to pay the entire amount at once every month. You only need to pay the minimum repayment amount. In this way, you can maintain a good credit record and reduce the pressure of one-time repayment. It is a good choice for your flexible financial management.
2. Minimum repayment requirements for Ping An Bank credit cards
After successfully applying for minimum repayments for Ping An Bank credit cards, if your first month repayment amount is greater than or equal to the minimum repayment amount, then The minimum repayment amount for the next month will be automatically reduced from 10% to 5%. After Ping An Bank credit card holders choose the minimum repayment, the minimum repayment amount in the first month is generally about 10% of the total amount. If your repayment amount in the first month is greater than or equal to the minimum repayment amount, the minimum repayment amount in the next month will be Automatically reduced from 10% to 5%.
3. Minimum repayment amount of Ping An Bank credit card = 100% of the consumption ratio coefficient (5% or 10%) of the credit limit, cash advance transaction amount, and 100% of the unpaid portion of the minimum prepayment amount 100% of the annual fee and other expenses and interest ratio coefficient (5% or 10%) exceed the credit limit consumption ratio coefficient (5% or 10%)
How to cancel the Ping An Credit Card?
1 There are two ways to cancel a Ping An Bank credit card. One is to cancel by phone. This method is more convenient and faster. You can directly call the 95511 credit card hotline on the back of the credit card and then be transferred to manual service. After the customer service picks up the phone, they will ask you why you want to cancel your credit card and will try their best to persuade you not to cancel it. At this time, you just need to be firm. The next step is to verify your personal information, ID card information and bank card password, and then cancel the card. After canceling the card, it is best to destroy the card so that others cannot access your card.
2 Another way to cancel is to cancel at the counter. To cancel at the counter, you need to bring your ID card, credit card, and a small amount of money to the bank counter. Give your ID card to the staff and accept some questions from the staff. Generally, they will ask you your name, ID card information, bank card account number and card password, etc. As long as you answer the questions correctly and pass the review, you can log out. credit card. It should be noted that after canceling the credit card, you also need to close the account, which would be better.
The telephone hotline for Ping An Bank’s credit card is on the back of the credit card and is 95511. It is best to destroy the card after cancellation. If your card is intact, it can still be used in some consumption places that only require but not verify the information. Others will also use your card for malicious consumption. The above is the cancellation of Ping An Credit Card. The introduction of the method, I hope it will be helpful to you.
How to apply for minimum repayment with Ping An Bank Credit Card
No application is required for minimum repayment with Ping An Bank Credit Card. The minimum repayment amount of bank credit card is calculated based on your actual consumption type and consumption situation. Yes, the monthly minimum repayment may be different. Paying the minimum repayment on time will not affect your personal credit, but you will not be able to enjoy the interest-free period. The interest and remaining unpaid payment will be included in the next bill, and the interest will be calculated according to Each transaction in your bill will be calculated at 50,000 per day starting from the consumption recording date until you pay it off. You can check the minimum repayment amount of each period through Ping An Pocket Bank APP-Credit Card-My Bill. If you need to inquire about Ping An Bank's credit card business, you can click the link below and select "My" in the lower right corner - exclusive customer service or follow Ping An Credit Card's WeChat public account (paxyk95511) for consultation.
How to calculate the minimum repayment amount and interest of Ping An Bank Credit Card?
Minimum repayment amount of Ping An Bank credit card = (the unpaid portion of the annual fee of the minimum repayment amount in the previous period is recorded in the principal, handling fees and the resulting interest in each installment of the installment business. The cash withdrawal principal, handling fees and Interest accrued on this pair) 100% (other expenses of the consumption amount) 10%. Interest is calculated based on the daily interest rate of 0.05% of the amount used.
Other fees include liquidated damages, interest, loss reporting fees, damage repair fees, etc., except annual fees, cash withdrawal interest and handling fees. If the customer has paid off the minimum repayment amount on time in one period, the calculation of the consumption amount and fees will be changed from the original 10% to 5% in the calculation of the subsequent monthly minimum repayment. If the minimum repayment calculation method changes, the latest rules published by the bank on its official website shall prevail.
Extended information:
How to handle overpayments on Ping An Bank's credit cards
Overpayments refer to the funds that Party B deposits in the credit card or the amount of repayment. The funds paid are the portion exceeding the limit approved by the bank (fixed temporary limit). Party A will not accrue interest on the overpayment on Party B's credit card. If Party B reclaims all or part of the overpayment on the card, it must submit an application to Party A in a method approved by both parties. After confirmation by Party A, the overpayment will be remitted to the personal account designated by Party B by remittance. Party B shall bear the handling fee for overpayment recovery. If the overpayment is withdrawn through self-service equipment, transfer or bank branch counter, it will be regarded as a cash withdrawal transaction and a cash withdrawal fee will be required.