Will borrowing and repaying a credit card affect your credit? This is possible

Jiubei is a well-known credit card repayment APP. When many cardholders have no money, they will borrow money from Jiebei to repay their credit cards, and then repay the money to Jiebei. Although borrowing and repaying a credit card will not overdue, it does not mean that it will not affect the credit card. Let’s take a look below.

1. Jiebei pays credit card on behalf of credit card check credit report

Jiebei cooperates with financial institutions and some banks. When they lend money, they will check the applicant's credit report. Credit report, and each time a check is made, a query record will be left in the credit report, which will have an impact on the credit report. If the number of queries is too many, the credit report will be ruined.

In addition, we personally repay credit cards with savings cards, but after borrowing money to repay it, the loan will be directly transferred to the credit card from the platform, and the repayment path will become institutional repayment. This is equivalent to repaying the card with a loan. Once the bank finds out, it will think that your repayment ability is insufficient. If things go on like this, it may be difficult to get approved for banking business.

2. Overdue credit card repayment by Jiebei will affect your credit

Jiebei will check your credit report. If you fail to repay the credit card in time after repaying the credit card, you will be charged. Then Borrower will report your overdue behavior to the central bank's credit reporting system, and it will also leave a bad credit record on the credit report.

Even if your credit card is overdue, overdue borrowing will still affect your credit.

To sum up, using a repayment app like Jiebei to repay credit cards does not mean that it has no impact on your credit. If you want to maintain good credit, you should find a way to borrow money and repay it yourself. If you don’t have the money to repay in full, try credit card bill installments, which can alleviate the repayment pressure to some extent.

Can I pay off my credit card through Ant Borrowing?

Of course you can. One of the great advantages of Alipay Borrowing is that you can borrow and repay at any time, and the application threshold is very low. You only need a Zhima credit score of 600 or above, and no other review materials are required. The maximum period is one year. time and repay in installments. Now there are two channels to repay credit cards, one is Alipay and the other is bank card repayment. :

(Cash withdrawal limit up to 100, cash withdrawal fee as low as 5 yuan per transaction)

Is it cost-effective to pay off a credit card with borrowed money? I'll take you to settle an account

You can also borrow and repay your credit card. This function is under trial operation and it will probably take some time to be available to everyone. However, although it is free to repay a credit card by borrowing bei, the borrowing installment itself requires interest. So, is it cost-effective to repay a credit card by borrowing? Let’s calculate it below.

When borrowing money to repay a credit card, you actually borrow money from borrowing money and pay it back to the credit card, and then repay it in installments to borrowing money. As mentioned earlier, interest must be paid for borrowing installments. Although the repayment is monthly, the interest is calculated at a daily interest rate of 45% to 40000%. However, borrowing installments have equal monthly installments. The total interest will also be different between the two repayment methods of interest first and principal later.

For example: Suppose you borrow 10,000 yuan to repay a credit card in 12 installments, with a daily interest rate of 4/10,000. The total interest for equal monthly repayments is interest first and then the principal. The total interest is 1500 yuan. In comparison, the interest of the latter repayment method is more than 600 yuan more than the former, so the former is definitely more cost-effective.

However, to see if it is really a good deal, let’s compare it with the credit card installment fee. Assuming the same amount is 10,000 yuan, and the credit card is divided into 12 installments, the total handling fee to be repaid in each installment is 780 yuan, which is 69 yuan less than borrowing equal monthly repayments.

To sum up, borrowing and repaying credit card interest is still relatively high and is not very cost-effective. If you really don’t have the money to repay, you might as well apply for installment repayment. This will not only ease the repayment pressure, but also pay less interest than borrowing money. Not to mention occasional installments, it is also helpful to increase the credit card limit.

How long does it take for the credit card to be borrowed and repaid? Depends on the repayment channel

Jiebei is Alipay’s consumer credit product. After applying for a loan, you can lend it to your bank card and then repay the credit card.

This is equivalent to indirectly repaying a credit card. The arrival time is still determined by the credit card repayment channel. The repayment arrival time is different in different channels.

After the borrowed money arrives, you can use the receiving bank card as a repayment card and repay through Alipay or other channels. Here are three common channels for repayment arrival times. :

1. Repay via Alipay’s credit card repayment function:

Select the bound credit card for repayment, and choose the payment method as the receiving bank card. To repay the credit card through this channel, There are three types of arrival times, namely immediate arrival, same-day arrival, and next-day arrival. The specific arrival time is determined by the credit card issuing bank.

However, this repayment method requires a repayment fee. If the repayment amount exceeds 2,000 yuan, the excess portion will be charged at the rate.

2. Repay a credit card through Alipay transfer function:

Not only can you repay your own card, but you can also repay other people's cards. The arrival time is determined by the Alipay transfer time. There are three types of time, namely, the payment is expected to be received within 2 hours, the payment is expected to be received before 24:00 on the same day, and the payment is expected to be received before 24:00 tomorrow. The specific arrival time of the credit card issuing bank shall prevail.

Transferring money to a credit card through this method will involve a transfer service fee, which is charged at 1% of the transfer amount.

3. Repay credit card through mobile banking:

For example, you can use the mobile banking of the collection card to transfer and repay, enter the credit card, name, repayment amount, etc., and use the collection card You can pay with the borrowed money in the account. This method can repay it for free, and it can be credited to your account in real time as soon as possible.

The above is the relevant introduction of "How long does it take to get the credit card borrowed and paid back", I hope it will be helpful to everyone. In short, when repaying a credit card, it is best to choose a channel that can get the payment quickly and repay it for free. In this way, you don’t have to worry about the repayment not being received immediately or overdue things affecting your credit.

How to borrow and repay a credit card? If you don’t pay attention to these matters, you will lose a lot of money

Jiebei is a consumer credit product on Alipay. You can apply for a loan within the available limit and transfer the money to the debit card in your name. Many friends have heard that borrowing money can be used to repay credit cards, and they want to know how to do it. Let’s introduce the relevant matters about borrowing money to repay credit cards.

1. Can I pay back my credit card after borrowing money?

As a consumer credit product, Jiebei has clear regulations and can only be used for daily personal consumption, such as house decoration, purchasing home appliances, travel, etc., but cannot be used for home purchases, securities investments, etc.

Although paying back the credit card is not stated to be among the above purposes, as far as Alipay is concerned, as long as you do not use the money to buy a house or invest, as for the use of the money, you can use it however you like. Using and paying off credit cards is considered tacitly allowed.

2. How to use borrowed money to repay a credit card?

Using Jiebei to repay a credit card can be done directly through Alipay. There are two methods of operation:

1. You can directly click "Credit Card Repayment" on Alipay and find the link. If you want to repay a certain credit card and choose the repayment bank card as the bank card used to make payments on Jiebei, you can indirectly use Jiebei to repay the credit card. However, this method can only repay your own credit card.

2. You can also use the transfer function on Alipay, enter the credit card you want to repay, the bank where you opened the account, your name and other information, the amount you want to repay, click Transfer, and use the Jiebei payment bank card as payment With a bank card, you can transfer funds and repay, and it supports whether you are repaying yourself or others.

However, neither method of borrowing or repaying a credit card on Alipay is free. If you want to repay for free, you might as well use mobile banking that is bound to a Jiebei debit card to make repayment. Not only is it free, but it can also be credited to your account in real time as quickly as possible.

Is it cost-effective to pay off a credit card with Ant Borrowing? It can be operated directly!

Ant Jiebei, a subsidiary of Alipay, is a purely credit-based mobile loan. As long as you have real-name authentication and good personal qualifications, you will have the opportunity to obtain a credit limit and withdraw the money to your bank card. Now there is a new page for Jiebei Repayment. If you are unable to repay your credit card, you can temporarily use Jiebei Repayment.

So is it cost-effective to pay off the credit card with Ant Borrowing?

1. How to repay the credit card on Ant Borrowing?

The function of Alipay is a system evaluation system. Currently, only some users have this permission. During the trial run promotion period, only some users support borrowing and repaying credit cards, binding credit cards, and clicking on borrowing to withdraw cash to the credit card for repayment. That’s it.

Warm reminder: Only integers are supported, so overpayment will inevitably occur, which is a little inconvenient.

2. Is there any interest for Ant Borrowing Credit Card?

Borrowing and repaying a credit card will charge credit card repayment service fees and borrowing interest fees. That is to say, in addition to the interest fees of Ant Borrowing, you will also have to pay a part of the credit card repayment fee.

After the Alipay revision, there is only a basic free repayment limit of 2,000 yuan per person per month. If it exceeds the limit, service fees will be charged.

3. Is it cost-effective to borrow and repay a credit card from Ant?

From an operational point of view, it is no different from repaying the loan manually. It just saves some operations. There is no reduction in fees when you apply for a loan and then repay the credit card.

To sum up, the annualized interest rate of Ant Borrowing is about 18. Everyone’s interest rate is slightly different, which is much higher than the bank loan interest rate. Therefore, friends who have no problem with credit card repayment are not recommended. This method of repayment is only suitable for temporary emergencies when you have no money to repay your credit card and it is about to expire.

That’s it for the introduction of Ant Borrowing and Repaying Credit Cards.