1. Can I pay off my credit card with Huodaiyi? Xiaodaiyi is a personal consumption loan of Shanghai Pudong Development Bank. After approval by the bank, the Xiaodaiyi credit limit will be transferred from the personal credit limit to the exclusive Xiaodaiyi card. Cardholders can make purchases through the Xiaodaiyi card within the validity period of the credit limit. , or make a withdrawal. Usually banks have stipulated relevant uses for this type of personal consumption loans. The official information is that Xiaodaiyi funds should be used to meet the borrower's legal, compliant and reasonable consumer fund needs and cannot be used for securities. , futures, equity investment and other projects that are expressly prohibited by national laws and financial regulations. There is no clear explanation as to whether you can repay the credit card. If you want to withdraw the credit limit of Huidaiyi and use it to repay the loan, that’s fine.
2. What are the consequences of using the Easy-to-Pay Credit Card? After approving the loan, Shanghai Pudong Development Bank may require the lender to provide transaction certificates from Xiaodai.com to verify the specific use of funds. If it is used to repay a credit card, it is not considered personal consumption in the strict sense, so providing proof of repayment may not be recognized. If you say otherwise, the lender will be asked to pay off the debt in advance. And if the lender is not strong in repayment ability and cannot repay in full, overdue payments will affect your credit and incur high interest charges. Therefore, in order to avoid this situation, borrowers who do not have strong repayment ability are best not to use the consumer loan limit to repay credit cards.