Various new regulations and new policies are officially implemented and will gradually penetrate into and affect people's daily lives. For cardholders who have a large need for overdraft consumption, the new policy on credit cards (debit cards) is the most concerned. I have summarized six major points, which are disruptive changes, and they are all good news for the people! As we all know, the biggest benefit of using a credit card (debit card) is that you can make overdraft purchases without interest, and you can withdraw cash if you have tight cash on hand. However, there are also some hidden dangers in using the card, such as: overdue repayment, overdraft interest, credit card ( credit card) fraud, etc.

To avoid these hidden dangers and hazards, you must fully understand the following new credit card (debit card) regulations:

1. The maximum interest-free period may exceed 60 days

p>

For credit card (debit card) cardholders, interest-free repayment period and minimum repayment amount treatment are two core services. According to the current "Bank Card Business Management Measures", the interest-free repayment period for credit cards (credit cards) is up to 60 days, and the minimum repayment amount in the first month must not be less than 10% of the overdraft balance of the month. The new regulations relax the above restrictions, and the specific operation methods are decided by the card issuing bank.

After the new regulations relax restrictions, how likely is it that banks will extend the interest-free repayment period to more than 60 days? "Large banks are less likely to do so, and it is not ruled out that small and medium-sized banks can use this as a weapon to compete in the market." A person from the credit card (debit card) center of a major state-owned bank said that for banks, extending the interest-free repayment period will not only extend The loan period has been extended and the speed of capital accumulation has been reduced. However, if the market competition becomes fierce in the future, extending the interest-free repayment period will still be a trend.

2. The minimum repayment amount is determined by the bank independently

After spending crazy overdrafts, I was shocked by the bill and I was unable to repay the full amount. What should I do? Don’t worry, minimum payments can save your personal credit. But the minimum repayment may become an important factor affecting your limit increase.

Before the new regulations, the minimum repayment limit for credit cards (debit cards) was 10% of the overdraft consumption limit (all expenses need to be repaid in full, such as annual fees, interest, etc.); after the new regulations, the first The minimum monthly credit card (debit card) repayment amount is determined by the bank.

3. Liquidated damages replace late payment fees

After the implementation of the new regulations, late payment fees for credit cards (credit cards) have been cancelled. But this does not mean that there is no penalty for not paying the debt, but that the bank will charge "liquidated damages" instead. No interest shall be accrued on the liquidated damages, annual fees, cash withdrawal fees, currency exchange fees and other service fees collected by card issuers from cardholders. This new regulation is regarded by industry insiders as the one with the greatest impact among the new regulations.

It is understood that among the several banks that have announced the completion of modifications to their charging standards, there has been no change in the charging standards that have been changed to "liquidated damages for overdue repayment" and "liquidated damages for repayment". Some banks are slightly different. In addition to announcing the name change, they have added the content of "collecting according to the agreement" in the new terms, confirming that liquidated damages can be negotiated.

4. The overdraft interest rate can fluctuate up and down

From a single rate to a floating upper and lower limit. In the past, overdraft interest was charged at 0.5% per day beyond the interest-free period. The new rules impose upper and lower limits on credit card (debit card) overdraft interest rates. The upper limit of overdraft interest rates is 5/10,000 daily interest rates, and the lower limit is 0.7 times the daily interest rate of 5/10,000 percent.

It is understood that currently all banks have generally adjusted their overdraft interest rates to a range of 0.035-0.05. A joint-stock bank said that from next year, if cardholders encounter overdraft interest rates, they will be subject to new regulations. Cardholders with different credit backgrounds will also enjoy differentiated overdraft interest rates.

Everyone knows that overdraft interest increases in direct proportion. If the amount is larger, the repayment time will be longer, and it will be a large sum month after month. The daily interest rate of 0.05 is converted into an annual interest rate, which is as high as 18.

5. The daily limit of ATM cash withdrawal is 10,000 yuan

Specifically, cash withdrawal means that cardholders use self-service machines such as counters and automated teller machines (ATMs) to withdraw cash. The funds within the cash advance limit of a credit card (debit card) are obtained in the form of banknotes; cash transfer means that the cardholder transfers the funds within the cash advance limit of a credit card (debit card) to his or her bank settlement account; cash recharge means that the card holder A person transfers funds within the cash advance limit of a credit card (debit card) to his or her payment account opened at a non-bank payment institution.

Under the new regulations, the limit for cardholders to handle credit card (debit card) cash withdrawals through self-service machines such as ATMs has been increased from the previous daily accumulated RMB 2,000 per card to RMB 10,000. . For other cash advance business limits, the card issuer shall independently agree with the cardholder through an agreement based on the business strategy, cardholder risk level and limit setting requirements.