How about automatic credit card repayment? Automatic credit card repayment is actually equivalent to linking your credit card and a certain debit card. When the credit card issues a bill, the bank will automatically deduct it directly from the linked debit card on the final repayment date. The corresponding bill amount. This repayment method itself is very good. The money is deposited into the associated debit card in advance, and the bank will automatically deduct the current bill on the repayment date. Cardholders no longer have to worry about late repayment due to forgetting the time. . Many cardholders have set up automatic repayment on their credit cards, but don’t think that you can sit back and relax just by setting up this repayment method. We would like to remind you that even if automatic repayment is set up, there will still be certain risks.
What are the risks of automatic credit card repayment? The risk of this repayment method is mainly reflected in the deduction. If the balance of your associated automatic repayment savings card is insufficient, most banks will send you a text message asking you to deposit money. If you do not pay attention to the short message, If the interest fails to make up the balance before being deducted, the repayment is likely to fail. If you only find out on the last repayment day that the balance in the associated account is insufficient, you can only choose to repay via ATM or online banking. However, since the batch processing time is uncertain, the repayment transfer time is difficult to predict. Therefore, it is recommended that all cardholders, even if they use automatic repayment, should check in advance whether the balance of the associated account is sufficient. If the balance is insufficient, they should deposit enough money as soon as possible to ensure successful repayment. Otherwise, there will be no late payment fees and interest. If it is not discovered for a long time, it will affect personal records. Even if the debt is paid off by then, the bad credit record will not be erased.