Credit cards are also a type of small loans, but they are somewhat different from traditional bank small loans. For individuals, installment payments can effectively alleviate the financial pressure caused by large purchases. Credit card installments also bring a lot of convenience to everyone. The differences between credit cards and small loans are as follows:
1. Loan amount
Compared with traditional bank small loans, credit cards The credit limit for small loans is lower, usually around several thousand to tens of thousands, while the maximum loan limit for small loans can be up to 200,000.
2. Loan period
If you use a credit card for installment, the maximum installment period can only be two years, while the maximum period of a bank small loan can be three years.
3. Loan interest rate
As long as the cardholder uses the credit card normally, he can enjoy the interest-free discount for a certain period of time after swiping the card (the interest-free period for some bank credit cards can be up to 56 months) days), but when using a credit card to withdraw cash, the bank will calculate interest on a daily basis (daily interest is 0.5%), and will charge a certain amount of cash withdrawal fees. After the borrower successfully obtains a small loan, the bank will immediately start calculating interest, and the interest rate will generally rise above the loan base interest rate.
Warm reminder: The above information is for reference only. If you have funding needs, you can also apply through our bank’s official channels. Ping An Bank loans need to be evaluated based on your comprehensive qualifications. Whether you can lend money needs to be The final review result shall prevail. Different loan review processes are different. The specific requirements of the local branch shall prevail. You can log in to the Ping An Pocket Bank APP - Loan to learn about our bank's loan products and try to apply.
Response time: 2022-01-05. For the latest business changes, please refer to the official website of Ping An Bank.