What do you think about the central bank's cancellation of the upper and lower limit management of credit card overdraft interest rates?

the central bank may have chosen this approach in order to better promote the marketization of interest rates. Recently, the central bank announced that the overdraft interest rate of credit cards is freely determined by cardholders and card issuers, and the central bank cancelled the upper and lower limits of the overdraft interest rate previously stipulated. Earlier, the central bank stipulated to credit card issuers that the maximum daily interest rate of credit card overdraft is .5%, the annual interest rate is 18%, and the minimum interest rate is 12.6%. Now, the relevant overdraft interest rate is completely cancelled, and credit card issuers can set many kinds of credit cards in the future. However, the new regulations stipulate that credit card issuers must update the relevant interest rates in a transparent and timely manner, and the cardholders are fully informed.

Credit card related analysts said that the central bank's cancellation of the restriction on credit card overdraft is a business after the earlier online loan rectification: unbinding. At present, the loan service of the Internet platform used by the public is basically five ten thousandths of interest per day. After the cancellation of relevant restrictions in the future, credit card pricing is more flexible, especially for some small and medium-sized banks, they can constantly adjust their own credit card interest rates to carry out differentiated competition and realize the mode of coordinated development with large banks. According to the latest data, the number of credit cards issued in China has exceeded 76 million, and the balance of credit card loans overdue for half a year is 1 trillion, which accounts for 1.1% of all credit lending balances. As a whole, it belongs to the security background, so the central bank chose this time to cancel the overdraft limit, also in order to better promote the development of the credit card industry.

In the long run, after the central bank lifts the restrictions, the overdraft interest rate of credit cards will decline, but it will not necessarily fall into vicious competition of low prices, because the regulatory authorities have supervision over overdraft consumption and excessive consumption, so in the future, bank credit cards may usher in small profits but quick turnover, and consumers can get more benefits by exchanging low interest rates for more users. There are also views that in the future, the bank's credit will be more differentiated, the interest rate of quality customers will be lower, and the interest rate of ordinary customers will be higher. This allows the central bank to maintain a balance between risks and benefits.

In the past, although all banks issued credit cards, the products were similar. After the interest rate was released this time, the differentiation of credit cards among banks will be more obvious, and customers will have more choices. In the future, banks will use more big data technologies to portrait customers, open credit cards with different interest rates to customers with different risk levels, and the products will be more abundant. Generally speaking, customers can get more diverse and multi-level services, and the competition among banks will be more intense.

What changes have been made in the new credit card policy in 218

What changes have been made in the new credit card policy in 218

Recently, the People's Bank of China issued new credit card business regulations, including the management of overdraft interest rate range, the cancellation of late fees, the cancellation of interest-free overdraft period and the minimum repayment amount, which aroused widespread concern in the market.

after the release of the new credit card regulations of the central bank, consumers found that the overdraft interest rate had the possibility of 3% discount, while the central bank had previously stipulated that the overdraft interest rate should be unified to five ten thousandths of the daily interest rate.

"If the overdraft interest rates of different banks are different, I will shop around, and the one with the biggest discount is undoubtedly the most attractive." Mr. Chen, a Beijing citizen who is used to buying electronic products by credit cards in installments, told the reporter, "After deducting the minimum repayment amount, the overdraft of 1, yuan will be delayed for 3 days to pay interest 15 yuan, and 3% off will be less than 45 yuan."

behind the financial consumers' haggling over overdraft interest rate, it is the first step of marketization of credit card interest rate that commercial banks are about to take under the guidance of the central bank.

this time, the central bank carefully chose to set the upper and lower bounds for the transition. The central bank said that at present, the risk control ability and pricing ability of credit cards of various card issuers are uneven, and guidance on the upper and lower limits of interest rates is conducive to preventing individual card issuers from blindly reducing prices and fighting price wars.

"For banks, the implementation of interval management will give commercial banks a certain degree of freedom, meet the diversified needs of cardholders and promote the refined development of business, which will greatly stimulate the vitality of the credit card market." Dai Bing, general manager of the Credit Card Center of China Everbright Bank, said that although the discount on overdraft interest rate will have a certain impact on credit card revenue in the short term, banks can acquire more customers through differentiated pricing, which will make banks that meet the market demand gain greater development in the long run.

Credit card overdrafts need to pay interest after the interest-free period. If the minimum repayment amount is not reached, an additional 5% late fee will be paid, which is much higher than the interest. Suppose this overdraft "maxes out" the card, and an overrun fee will be charged. However, from January 1, 217, liquidated damages will replace late fees, and the over-limit fees will also be cancelled.

Zhang Xiaotian, an analyst at Yinlv.com, said: "The cancellation of late payment fees and the change to liquidated damages reflect the equal status of cardholders and card issuers, and the relationship between the two parties has changed from administrative to civil, which also reflects the central bank's management thinking of implementing marketization and advocating the spirit of contract."

Dai Bing believes that in the past, the late payment fee rate was single, and after the replacement of liquidated damages, not only banks, but also different customer groups of the same bank, and even different customers, may have different liquidated damages policies, which put forward higher requirements for banks' customer risk prediction ability.

The new credit card regulations also remove the restrictions on the interest-free repayment period, the minimum repayment amount, the method of calculating and settling interest on credit card overdrafts, and the interest-bearing restrictions on overpayments. In response to this series of cancellation and liberalization, card issuers are welcoming more and more "independent determination", "independent decision-making space", "flexible combination" and "agreement"

Li Chao, an analyst at iResearch, believes that after more than 3 years of development, the competitive mode of credit cards in commercial banks is gradually withdrawing from the market. The new credit card regulations are guiding commercial banks to intensify innovation, meet the personalized and diversified needs of cardholders, and open a new era of differentiation of credit card products and services.

"Differentiated service will bring a brand-new development space to the credit card market with serious product homogeneity, but it also brings many challenges." Dai Bing said that innovative products and services must involve a wide range of system transformation, need more and more accurate model setting, have stronger operation and analysis capabilities to support more flexible pricing strategies, and how to effectively manage risks behind differentiated products and services is also a new topic.

"In this regard, banks should cooperate more with Internet organizations. With the introduction of consumer credit products by Internet organizations such as JD.COM Baitiao and Ant Flower Garden, there is a lot of room for cooperation in innovative services and risk prevention and control." Li Chao said.

experts believe that the new credit card regulations will further guide banks to improve their experience in using credit cards, reduce customer interest expenses and safeguard consumers' legitimate rights and interests. In the future, banks may change the face of "going their own way" and start to solve a series of service and charging problems, such as full penalty interest, sleep card charges, easy card cancellation, and full handling fees for prepayment in installments.

New regulations on credit cards bring new changes to citizens' lives

Recently, the People's Bank of China issued the Notice on Matters Related to Credit Card Business (hereinafter referred to as the Notice), which made new regulations on overdraft interest, interest-free period, minimum repayment amount and fee collection of credit cards, which brought new changes to citizens' lives.

overdraft interest may be reduced. At present, the credit card overdraft interest of banks is generally .5% per day. The Notice cancels the current unified standard of credit card overdraft interest rate, and implements the upper and lower limit interval management of overdraft interest rate. The upper limit is .5% of the daily interest rate, and the lower limit is 3% of the daily interest rate. After the implementation of the new regulations, citizens can compare a number of banks with credit cards and choose banks with relatively low overdraft interest rates.

banks can decide the interest-free period and the minimum repayment amount by themselves. According to the relevant regulations, the current interest-free period of credit cards is generally about 5 days, and the minimum repayment amount shall not be less than 1% of the overdraft consumption balance of the month. The new regulations cancel the restrictions on the interest-free period and the minimum repayment amount, and banks can decide the interest-free period and the minimum repayment amount according to their own situation and the credit situation of cardholders. This means that in order to improve market competitiveness, some banks may launch credit cards with long interest-free periods, and the minimum repayment amount may be lower. This is a good thing for cardholders.

the fee will be charged at one time, and no interest will be accrued. The Notice stipulates that the card issuer shall not charge interest on the service fees such as liquidated damages, annual fees and cash withdrawal fees charged to cardholders. At present, the interest calculation method of domestic banks is mostly compound interest, that is, rolling interest, which may lead to sky-high arrears, and this situation will no longer exist, which is very beneficial to cardholders.

why does a bank have to launch different credit cards, but can't it push them centrally?

When a bank wants to launch different credit cards, the reasons why it can't push them collectively are as follows:

First, the discount of each credit card is different.

In fact, different credit cards can enjoy different preferential activities, because some cards are cooperative with a certain enterprise or unit and can enjoy special benefits. Users who apply for different credit cards have different needs. For example, users who apply for a Weibo card, when using this credit card, its points are linked with Weibo points. Another example is the petroleum card. For those who have private cars and need to refuel frequently, it is definitely more favorable to apply for this card.

if a bank pushes one card, it may be that the activities that it can get now are different from the discounts that it can get in the future. Maybe it can talk about more merchant discounts later. Maybe someone is not interested in the content of this card, but interested in the content of another card. If only one card is launched, it will not meet the needs of all users. And it is not convenient to increase or decrease the discount of activities in the future.

The most important thing is that the timeliness cannot be taken into account. For example, users who applied for credit cards the year before last did not have the function of Weibo points, but now they have increased, but this user does not need this function, so they can't delete the project content for individuals, so they can only differentiate and classify by issuing different credit cards, so as to provide differentiated services.

second: different credit cards represent different identities.

I may be able to apply for a basic credit card when I first started working, but I can apply for a more advanced credit card after a certain stage. Banks for such users also need to be classified and differentiated, which is also convenient for them to manage their target customers. After all, there are not many users who can use platinum cards and diamond cards, and banks need to distinguish them in a certain way in order to better safeguard their customers. And customers with different cards will feel different identities.

differentiated credit of ABC mortgage credit card

The credit line of ABC mortgage customers' exclusive credit card is granted according to the comprehensive situation of customers, and the amount granted varies according to different customer situations.

so much for the introduction of credit card differentiation.