Can CCB Quick Loan repay credit cards? You will understand after reading this

Many people are in trouble of lack of money, but they also have credit card debts to pay off. I heard that some banks have credit loans with relatively low thresholds, so I want to get a loan. Come and pay off the credit card. So, can bank credit loans be repaid by credit cards? Here we take CCB Quick Loan as an example.

Can CCB Quick Loan repay credit cards?

1. Look at the operation

Bank credit loans are divided into two types, one is consumer credit loan and the other is cash loan. Although the former is loaned to the bank card after application, However, you can only use your bank card to make purchases at the POS machines of designated merchants, but you cannot withdraw cash; the latter is to deposit money into the bank card, and you can withdraw cash after the money arrives, or you can also make transfers.

For example, CCB Quick Loan belongs to the former category. As a consumer credit loan, you cannot withdraw cash or transfer money after the application is successful. And we all know that credit card repayment requires transferring money from a bank card to a credit card for repayment, or withdrawing money from a bank card and transferring it to a credit card account.

So, from an operational point of view, it is obvious that CCB Quick Loan cannot be used to repay credit cards. Of course, some people may say that you can find a way to get the money out of the bank card, but there are certain risks in doing so. Once the bank monitors it, it may require you to pay it all off at once. For cardholders with weak repayment ability, For people, it is undoubtedly adding insult to injury.

2. Depend on the purpose

Banks have stipulated relevant purposes for this type of personal consumption loans, such as to meet the borrower’s legal, compliant and reasonable consumer fund needs. , and cannot be used for projects that are expressly prohibited by national laws and financial regulations such as securities, futures, and equity investments.

There is no clear explanation as to whether you can use quick loans to repay credit cards, but this is a kind of loan repayment of cards, and banks will probably not support it.

Can bank consumer loans be repaid with credit cards?

As the name suggests, bank consumer loans are used for consumption. When applying for a loan, the bank requires the borrower to clarify the purpose of the loan, and the loan limit cannot be used for non- In the consumer field, if you use it to repay credit cards, being monitored by the bank will affect your creditworthiness with the lending bank, and the approval rate for future loan applications will be lower.

Many banks have clear regulations for consumer loans. The credit limit can only be used in areas such as decoration, home appliances, weddings, student aid, tourism, medical care, etc. Borrowers should use the credit limit strictly according to the purpose of the loan.

Is it appropriate to use a loan to pay off a credit card? Never do this!

The loan industry is developing very fast now, with countless loan products emerging every day. Loans and credit cards have become two indispensable credit products in people's daily lives. Some users want to know if it is appropriate to use a loan to repay a credit card? Because you have credit card debt to repay every month, using a loan to pay off your debt can relieve a lot of stress.

From a general point of view, any bank will not stipulate the purpose of the loan, requiring that the loan can only be used for consumption, business, etc., and cannot be used for illegal accounts, improper use in violation of regulatory regulations, or failure to cooperate with bank investigations. It is easy to The credit limit will be directly frozen, and the balance owed under your name may be settled in full at once.

1. Repay a loan with a loan

Using a loan to repay a credit card is the same as using a loan to repay a loan. This way of quenching thirst by drinking poison is not advisable and will only make the debt bigger and bigger. Finally it got out of hand.

2. Being discovered by the bank

If your method is very simple, it may be discovered by the bank. For example, the loan amount is similar to the credit card debt, which can be found from the credit report. Then the bank may immediately cancel the limit and all the debts in the name must be settled in advance, including handling fees and interest, which will put a lot of pressure on the borrower.

3. Repayment Pressure

Some people are accustomed to using loans or credit cards to solve financial problems, and they may be unable to get loans because loans are not that flexible. If the capital chain is broken, it may lead to a situation of heavy debts, with irreparable consequences.

4. The credit report becomes black

Banks have very high requirements for the integrity of users. If such deposit behavior is discovered, they may be directly blacklisted, making it difficult to return in the future. Handle credit business.

Can I repay a credit card for a business loan?

Yes. Bank loans can be used for consumer loans and operating loans. If your credit card is used for consumption, you can use the bank loan for consumption to repay the credit card.

Is it okay to use the money from a bank loan to pay off a credit card?

Yes, this behavior is not illegal, but it is not allowed by the bank because it is a cash out.

Cash-in refers to the false exchange of cash benefits, which is mostly used for cash-out of credit cards, provident fund cash, securities cash-out, etc. "Interpretation of Several Issues in the Application of Law", cash out refers to violating national regulations and using point-of-sale terminals (POS machines) and other methods to directly pay cash to credit card holders through fictitious transactions, false prices, cash returns, etc.

In China UnionPay's "UnionPay Card Acquirer Merchant Risk Management Rules", the definition of arbitrage is: the merchant colludes with bad cardholders or other third parties, or the merchant itself uses virtual transactions to arbitrage cash.

Extended information:

The documents required to apply for a credit card are:

1. Identity certificate: aged 18 to 65 years old, with full capacity for civil conduct Applicant's ID card;

2. Proof of income or work: proof of salary, bank account statement, original official work certificate issued by the work unit, original work badge or business card showing comprehensive information, and unit showing Name, applicant’s name and social security/medical insurance/provident fund payment records in the past three months, etc.

3. Proof of financial resources: bank salary records, income certificate issued by the unit, income tax withholding certificate, self-owned real estate certificate/house purchase contract/bank mortgage repayment schedule, self-owned car driving license, Original or copy of bank deposit certificate and other documents.

4. When applying for a credit card, you must consider your own financial situation. If you have a loan, you need to pay off the credit card consumption amount every month. The repayment pressure may be heavy, so it is recommended to consider it carefully.