1. It is not a credit card, it is similar in nature to Weili Loan.
2. The interest rate of the WeBank Micro Card is not fixed and is determined according to each person’s usage. The WeBank Micro Card is a type II bank account that you open in WeBank. It can be used There is no limit on the amount of Weili Loan repayment. For details, please call WeBank’s official customer service hotline: 95384. Its main business scope includes absorbing public deposits, issuing loans, and handling bill discounts, etc. Commercial banks are one of the financial institutions that transfer funds from Weizhong Card to the credit card for repayment;
3. WeBank launched the inclusive financial loan product “Weilidai” in mid-May 2015. "Weilidai" is the first loan product in China that realizes online operation of the entire process from application, approval to disbursement, and is unique in being inclusive and convenient. Starting from April 11, 2018, the single-day limit for transferring funds or purchasing financial products on the WeBank APP will be reduced to 10,000 yuan. WeBank was initiated and established by Tencent, Baiyeyuan, Liye Group and other well-known private companies. It is headquartered in Shenzhen. It was approved by the regulatory authorities to open in December 2014. It is the first private bank and Internet bank in China.
WeBank Micro Card is an electronic account launched by WeBank. This electronic account does not have a physical card and is an Internet bank account. WeBank micro-card integrates savings, transfer, payment, financial management and other functions. The functions of WeBank's microcard are similar to those of bank cards issued by other commercial banks. The only difference is that there is no physical card, which is equivalent to a virtual account. However, WeBank WeChat Card currently only supports transfers to accounts with the same name in other banks bound to it. WeBank Micro Card is an electronic account of WeBank. It is just a virtual bank card. It has functions such as savings, transfers, payments, financial management, etc., as well as transfers between WeBank Card and bound accounts of the same name in other banks. Currently, functions such as credit card consumption and transfer to others are not supported.