What are the pitfalls of credit cards?

1. Minimum repayment amount with high interest. "Minimum repayment amount" refers to the minimum repayment amount stipulated by the issuing bank when the cardholder cannot repay all the due payables. Generally, the minimum repayment amount is 1% of the consumption amount and other payables. When the repayment period is not full, the cardholder who enjoys the minimum repayment amount will be charged high interest by the bank. Cold anatomy of the minimum repayment amount: the expected annualized interest rate of the "minimum repayment amount" is as high as 18%, which is the highest among all types of installment business. The setting of the minimum repayment amount of the bank can help cardholders who can't repay on time to a certain extent, but in essence, the repayment amount is divided into two phases, one is to repay a small part of the minimum repayment amount on the last repayment date, and the other is to pay off the remaining debts on the next bill repayment date. Consumers are advised to avoid choosing the minimum repayment amount when they can't afford it. It's easy to cancel the automatic installment bid. "Full automatic installment" is a special setting of credit card limit. As long as the credit card consumption in each period reaches the agreed amount, the bank will automatically treat this business as an installment business. Some consumers click on automatic installment when they apply for a card. Even if online shopping costs 1 yuan money, it will be paid automatically by the bank. Needless to say, the automatic installment business needs to bear a high rate. 3. Interest-free loans are really expensive. Among many preferential activities of the bank, interest-free loans will be provided. Its essence is to promote the installment payment business to cardholders, but the tool has become a cash limit, and the rate is often higher than the ordinary installment payment fee. The reason is that the investment of consumer funds in this installment business is uncertain and the risk is higher than that in the traditional installment business, so the handling fee is slightly higher. In fact, high-quality credit card customers can indeed enjoy interest-free loan lines, but it has become a high handling fee in disguise. The installment payment method adopted by banks can be divided into 6 to 24 installments. Although the number of installments is different, the handling fee for each installment is calculated, and the expected annualized interest rate that the cardholder really has to pay is 16.22%. 4. prepayment still can't escape the handling fee. Most banks stipulate in the installment payment service terms that if the cardholder applies to pay off the outstanding installment balance in advance, the cardholder must pay off the outstanding installment balance and handling fee in one lump sum after the approval of our bank. Such prepayment is obviously meaningless.

what are the pitfalls of credit cards?

1. Minimum repayment amount with high interest. "Minimum repayment amount" refers to the minimum repayment amount stipulated by the issuing bank when the cardholder cannot repay all the due payables. Generally, the minimum repayment amount is 1% of the consumption amount and other payables. When the repayment period is not full, the cardholder who enjoys the minimum repayment amount will be charged high interest by the bank. Cold anatomy of the minimum repayment amount: the expected annualized interest rate of the "minimum repayment amount" is as high as 18%, which is the highest among all types of installment business. The setting of the minimum repayment amount of the bank can help cardholders who can't repay on time to a certain extent, but in essence, the repayment amount is divided into two phases, one is to repay a small part of the minimum repayment amount on the last repayment date, and the other is to pay off the remaining debts on the next bill repayment date. Consumers are advised to avoid choosing the minimum repayment amount when they can't afford it. It's easy to cancel the automatic installment bid. "Full automatic installment" is a special setting of credit card limit. As long as the credit card consumption in each period reaches the agreed amount, the bank will automatically treat this business as an installment business. Some consumers click on automatic installment when they apply for a card. Even if online shopping costs 1 yuan money, it will be paid automatically by the bank. Needless to say, the automatic installment business needs to bear a high rate. 3. Interest-free loans are really expensive. Among many preferential activities of the bank, interest-free loans will be provided. Its essence is to promote the installment payment business to cardholders, but the tool has become a cash limit, and the rate is often higher than the ordinary installment payment fee. The reason is that the investment of consumer funds in this installment business is uncertain and the risk is higher than that in the traditional installment business, so the handling fee is slightly higher. In fact, high-quality credit card customers can indeed enjoy interest-free loan lines, but it has become a high handling fee in disguise. The installment payment method adopted by banks can be divided into 6 to 24 installments. Although the number of installments is different, the handling fee for each installment is based on calculation, and the expected annualized interest rate that the cardholder really has to pay is 16.22%. 4. prepayment still can't escape the handling fee. Most banks stipulate in the installment payment service terms that if the cardholder applies to pay off the outstanding installment balance in advance, the cardholder must pay off the outstanding installment balance and handling fee in one lump sum after the approval of our bank. Such prepayment is obviously meaningless.

why do you always get cheated by credit cards?

Nowadays, there are more and more cards in people's hands, and many cards are not much different at first glance. In addition, for convenience, they are set to the same password, so it is easy to confuse them when depositing and withdrawing money. If you are really careless and mistake a credit card (debit card) for a debit card when saving money, it will be a big deal. Because cash withdrawal by credit card (debit card) costs a lot of money-

Some people will ask, it's all my own money anyway, so why do I have to pay for it? Because this is a proud credit card (debit card)! Credit cards (debit cards) are free of charge if they are consumed first and repaid within the prescribed time limit. However, if you use a card to withdraw cash, the bank will charge a 1% credit card (debit card) withdrawal fee. Even if there is cash in the credit card account, the bank will charge a handling fee of 5‰. This is not a case. Now many banks such as Bank of China, Agricultural Bank of China and China Construction Bank have such regulations.

after paying a large sum of money, many people will choose the minimum repayment or installment repayment to return the card, but these two methods are not just to split the arrears into monthly installments.

Let's take a look at the minimum repayment method. As long as it is not repaid in full, you will not enjoy the interest-free period. After each swipe, interest of .5 ‰ of the swiped amount will be charged from the billing date (usually the day after the swiping date). If the minimum repayment amount is not paid by the next accounting day, a late fee of 5% will be charged.

Take a chestnut as an example: Xiaoming spent 2, yuan on May 18th, and on June 1th, this was the only expense in the bill. On June 25th, the final repayment date of the bill, he returned it to 2 yuan. However, even if his credit record is good, this consumption will still generate a lot of interest: First, the total bill amount of 2, yuan will start from the second day of consumption (that is, May 19), and the interest will be calculated at .5% per day until the minimum repayment amount is repaid on June 25; Second, starting from June 25, the unpaid arrears of 1,8 yuan will be charged at the interest of .5 ‰ per day until they are fully paid off. In other words, even if it is fully paid off on June 26, it will pay an extra interest of 38.9 yuan because it is one day late.

similarly, the installment plan didn't make you cheap. Installment payment does seem to relieve a lot of pressure, but banks will not lend you money for nothing, but change the overdraft interest of credit cards (debit cards) into a different pattern. After handling the interest-free installment repayment, the bank will charge a certain handling fee every month, which is generally higher than the preferential interest rate of loans of the same grade. Therefore, I suggest that friends should not be fooled by the so-called zero-interest stunt-

Credit cards (debit cards) are usually bound with one or more savings cards to facilitate repayment, but this does not guarantee your monthly repayment 1%. Although the bank will automatically deduct money from the savings account for repayment on the last repayment date. As long as there is enough money in the savings card, it will not be overdue. But what if there is not enough money in the savings card? Anything can happen when the brain is not good. Planning Jun once made such mistakes. On the repayment date of the credit card (debit card), the money in the bound savings card was not enough to repay, but he naively thought it was enough, and the result was overdue! Want to cry without tears.

So, I still need to say a few words in the credit card (debit card) forum. Even if your credit card (debit card) is bound with a savings card, you should check the repayment amount of the current month and the remaining funds in the savings card a few days before the repayment date to see if it is enough, or you will regret it if it is overdue.

nowadays, many banks use point redemption to attract friends to apply for cards for marketing. The reason why many people spend money by credit card (debit card) is to exchange points for gifts. But there are also traps-because some points are time-limited, when you try to save points by swiping your card for a gift, you may find that the previous points have been cleared directly by the time limit.

credit card (debit card) forum I would like to remind you that credit card (credit card) points are mostly for two years, and now the value of points in many banks is decreasing day by day, and large purchases such as buying houses and cars are being excluded from the scope of points concessions. With such a small credit card (credit card) score and a short validity period, I suggest you cancel your credit card (credit card) quickly.

Let's stop talking about why there are credit card traps.