What does a negative credit card limit mean?

A negative credit card available limit means that the user's credit card consumption limit has exceeded the credit card credit limit. For example, the credit limit is 2,000 and the credit limit has been used. is 2020.9, then the available quota is -20.9, and the excess limit is 20.9 yuan. Many banks will charge a certain fee when the credit card is used beyond the limit, and it must be returned on time after the limit is exceeded.

Credit cards, also called credit cards, are credit certificates issued by commercial banks or credit card companies to consumers with qualified credit. It takes the form of a card with the issuing bank's name, validity period, number, cardholder's name and other contents printed on the front, and a magnetic stripe and signature strip on the back. Consumers holding credit cards can shop or consume at specially designated commercial service departments, and then the bank will settle the accounts with merchants and cardholders. Cardholders can overdraft within the prescribed limit.

Credit cards stipulated in the relevant laws of our country ("Interpretation of the Standing Committee of the National People's Congress on Relevant Credit Card Regulations") refer to credit cards issued by commercial banks or other financial institutions with the functions of consumption payment, credit loans, transfer settlement , cash deposit and withdrawal and other full or partial functions of the electronic payment card. On December 1, 2017, the "English Translation and Writing Standards in the Public Service Field" was officially implemented, stipulating that the standard English name of credit cards is CreditCard.

Advantages

Compared with ordinary bank debit cards, the most convenient way to use credit cards is that they can be used for ordinary consumption without cash in the card. In many cases, as long as there is no cash in the card, Just return the amount spent.

You can use overdrafts without deposits, and you can enjoy an interest-free period of 20-56 days for on-time repayment without any interest charges (most banks will charge an interest of 50,000 cents on the day of cash withdrawal, and There is a 2% handling fee. ICBC cash withdrawals are free of handling fees and only charge interest).

Swiping your card when shopping is not only safe and convenient, but also provides points for gifts.

You can enjoy discounts when you use the card at the bank's designated merchants.

Accumulate personal credit and add a record of integrity to your credit file that will benefit you throughout your life.

It is accessible nationwide and you can withdraw money or make purchases by swiping your card at ATMs and POS machines with the UnionPay logo; (Note: Credit cards are only suitable for consumption and swiping. It is best not to withdraw cash. The handling fee for cash withdrawals is very high and very inconvenient. Cost-effective)

Swipe card purchases, collect existing points with some credit cards, and offer a variety of discounts and lucky draws throughout the year, so you can always be surprised as long as you use the card; (most credit card online payments do not have points, but online shopping payments Very convenient and fast)

Free mailed statements every month, allowing you to transparently control every consumption expenditure; (now promoting green environmental protection, paper statements can be canceled and changed to electronic statements)

The unique supplementary card function is suitable for couples to manage finances at the same time, or to control their children's financial expenditures.

The free choice of one card and dual currencies is available all over the world. Overseas consumption can be repaid in domestic RMB.

400 or the 5-digit short number starting with 9 is available 24 hours a day. Loss reports are effective immediately and there is zero risk of losing the card.

Have validity period: It is known that the validity period of domestic credit cards is generally three or five years.

Use third-party platforms (the domestic platform that supports credit card bill management is mainly Jujindou) for business cooperation to provide cardholders with preferential services.

What does a negative credit card limit mean?

A negative credit card available limit means that the user's credit card consumption limit has exceeded the credit card credit limit. For example, the credit limit is 2000 and the used limit is 2020.9. Then the available quota is -20.9, and the over limit is 20.9 yuan. Many banks will charge a certain fee when the credit card is used beyond the limit, and it must be returned on time after the limit is exceeded.

The credit card limit appears as a negative number

1. The temporary limit expires

The first reason is that when the credit card has a temporary limit , the total amount displayed = fixed amount + temporary amount. If you first use the temporary limit in this situation, but the temporary limit expires before you have paid off the payment, the total limit will become a negative number.

2. Exceeding the limit of usage

The second situation is that the cardholder uses up the limit when using the credit card, and also deliberately overdrafts. At this time, before repayment, The cardholder's credit card limit will also be displayed as a negative number.

3. Overpayment

The third situation is that if the cardholder deposits money into the credit card, or the repayment amount exceeds the consumption limit, a credit card will appear. Overpayment will also be displayed as a negative number. When using a credit card later, the overpayment will be deducted first. In this case, you only need to spend the extra amount with the card, and then deduct the card limit. I believe that many friends have encountered this situation.

Note:

1. The bank will not calculate interest on overpayment, which is a credit card deposit. This is completely different from a debit card.

2. Cash withdrawals by credit card are subject to charges according to regulations. The charging issue should be looked at from two aspects:

1. According to the regulations on the use of credit cards, ATM machine withdrawals basically charge a cash withdrawal fee. The usual standard is 0.5% of the cash withdrawal amount, with a minimum of 5 yuan; The handling fees for overseas cash withdrawals are higher.

2. If you withdraw money from an ATM machine under the condition of "overpayment", you will still be charged a cash withdrawal fee according to the credit card cash withdrawal standards. In this case, it is recommended that the cardholder transfer the overpayment on the credit card to a debit card of the same name in any bank, and then withdraw cash from the debit card. This reduces handling fees.

As for the handling fees for "overpayment" of cash withdrawals by credit card holders, the charging bank stated that although the credit card holders withdraw their own money, it takes up the bank's relevant resources. Because unlike ordinary debit cards, credit cards are cumbersome in terms of deposit and withdrawal account processing, and credit cards are used to encourage customers to spend, not for cardholders to use them as savings accounts, so the charges are reasonable.

What does a negative credit card limit mean?

1. A negative credit card available limit means that the user's credit card consumption limit has exceeded the credit card credit limit. For example, the credit limit is 2,000 and the credit limit has been used. is 2020.9, then the available quota is -20.9, and the excess limit is 20.9 yuan. Many banks will charge a certain fee when the credit card is used beyond the limit, and it must be returned on time after the limit is exceeded.

2. Credit cards must be returned on time after daily use. Overdue repayment is not allowed, because penalty interest will accrue after overdue repayment. The longer the time, the more penalty interest will be incurred. Moreover, the bank will collect money after it is overdue. A common method of collection is to call the borrower's phone number and continue to collect money until the loan is repaid.

3. When the credit card cannot be returned on time, you can use installment repayment or the minimum repayment amount. Certain conditions must be met when using installment repayment. When applying for installment, users can choose the number of installments according to their actual situation. , different installments have different handling fees, so everyone needs to pay attention.

4. When a credit card is overdue for repayment, the overdue record will be uploaded to the credit report center. When the credit report becomes bad, it will affect subsequent applications for various loans, such as car loans or housing loans, and after the debt is returned, , this overdue record will continue to be saved on the credit report for 5 years, and will automatically disappear after 5 years.

The credit card limit appears as a negative number

1. The temporary limit expires

The first reason is that when the credit card has a temporary limit , the total amount displayed = fixed amount + temporary amount. If you first use the temporary limit in this situation, but the temporary limit expires before you have paid off the payment, the total limit will become a negative number.

2. Exceeding the limit of usage

The second situation is that the cardholder uses up the limit when using the credit card, and also deliberately overdrafts. At this time, before repayment, The cardholder's credit card limit will also be displayed as a negative number.

3. Overpayment

The third situation is that if the cardholder deposits money into the credit card, or the repayment amount exceeds the consumption limit, a credit card will appear. Overpayment will also be displayed as a negative number. When using a credit card later, the overpayment will be deducted first. In this case, you only need to spend the extra amount with the card, and then deduct the card limit. I believe that many friends have encountered this situation.

Does a negative credit card limit affect your credit report?

A negative credit card limit does not mean that it is overdue, but that the temporary limit may have expired, or the credit card has exceeded the limit and has been reduced by the bank. for the sake of.

Under normal circumstances, if the credit limit becomes a negative number, as long as you have sufficient repayment ability, you can pay off the negative part of the credit limit in full without overdue, and it will not affect your credit report; conversely, if there is not that much Overdue repayments will definitely affect your credit score.

Credit card limit, also known as credit card available limit, refers to the maximum amount that can be used by your credit card. It includes credit limit (that is, the maximum overdraft limit of a credit card) and the amount deposited into the credit card. .

The limit of any credit card depends on the effective income and asset security value provided by the individual during the application process. The credit limit of a credit card is positively correlated with the applicant's income and secured assets, that is, the higher the income and secured assets, the higher the credit limit obtained. Therefore, applicants must provide proof of income, provident fund social security, and asset guarantee statements. Asset guarantees include fixed assets such as real estate and cars, as well as current assets such as savings and bonds.

Credit cards are divided into credit cards and quasi-credit cards. Credit cards refer to credit cards in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; quasi-credit card It refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund as required. When the reserve account balance is insufficient to pay, the cardholder can overdraw within the prescribed credit limit. The so-called credit card generally refers to a credit card only.

Credit cards are issued by commercial banks to individuals and organizations. They can use them to shop and consume with special organizations and deposit and withdraw cash from banks. They are special carrier cards with consumer credit. They are in the form of a card with the card issuing number printed on the front. Cards with bank name, validity period, number, cardholder name, etc., and a magnetic stripe and signature strip on the back.

A real credit card has the following characteristics: it is not encouraged to deposit cash in advance, consume first and repay later, enjoys an interest-free payment period, can repay in installments independently (with a minimum repayment amount), join VISA, MASTER Wait for international credit card organizations to make it universally applicable.

There are five major credit card brands in the world, two major organizations: VISA International and MasterCard International, as well as American Express International Co., Ltd. (America Express) and Diners Club. ), JCB Japan International Credit Card Company (JCB) five professional credit card companies. There are also some regional credit card organizations in various regions, such as EUROPAY in Europe, UnionPay in China, United Credit Card Center in Taiwan, etc.

What does a negative credit limit mean?

In fact, it is very common for a credit card to have a negative limit, and there are more than one reasons for a negative limit. For example, the following situations will cause the limit to change. If it becomes a negative number, you must first understand the reason and then solve it.

1. Temporary limit expiration

When the credit card has a temporary limit, the total limit displayed = fixed limit + temporary limit.

If a temporary limit is used, but the temporary limit expires before it is paid off, the total limit will become a negative number.

Since the temporary limit needs to be paid off in one go, installments and minimum repayments cannot be processed, so the limit display will return to normal after the temporary limit is paid off.

2. Exceeding the limit of usage

If the cardholder uses up the limit when using the credit card, and also uses the overdraft beyond the limit, the cardholder will be charged before repayment. Credit card limits will also appear as negative numbers.

In addition, some credit cards also have a 10% over-limit usage limit, which means that the total credit card limit you can use is actually 110%, so the extra 10% will be displayed as a negative number.

It should be noted that there is no interest-free period for over-limits, and there are also high over-limit fees. Frequently swiping your card beyond the limit will also make bank risk control more sensitive, so it is generally not recommended to swipe your card beyond the limit.

3. Overpayment

If the cardholder deposits money into the credit card, or the repayment amount exceeds the consumption limit, there will be an overpayment on the credit card. This amount Also displayed as a negative number.

When using a credit card in the future, the overpayment will be deducted first. In this case, you only need to spend the extra amount with the card, and then deduct the card limit.

4. Being reduced

It means that the credit card is suddenly reduced, and the reduced amount is lower than the amount that has been consumed. It will also be displayed in the form of a negative number. After the repayment, the credit card will be reduced. will return to normal.

5. Minimum repayment penalty interest or overdue fees

The interest on the minimum repayment is called "full penalty interest". Some cardholders use the minimum repayment function. If the card is maxed out and penalty interest is incurred, the available balance will be displayed as a negative number when the bill is issued on the next bill.

In addition, if the cardholder's fixed limit has been used up and the payment is overdue due to failure to pay in time, the late fees, penalty interest and other fees incurred after the overdue period will occupy the limit, thereby causing the cardholder's credit card limit to increase. The case of negative numbers.

This is the introduction to the negative credit card available limit.