About credit cards, what we must know in our daily basic use is the annual fee, bill and repayment date. For example, if you brush it several times a year, you won't deduct the annual fee, or when will you deduct the annual fee?
Knowing the bill mainly means knowing the date of the bill and checking whether the bill is accurate. Generally, credit card bills are accurate, but just in case, you can at least know how much you have spent, and then adjust your later consumption budget.
The repayment date is familiar to everyone. Refers to when the credit card will be repaid, and the repayment date will be 24:00 at the latest. If it is overdue, it is likely to be reported by the credit reporting agency.
In addition to these basic elements, we also need to know the credit card limit. Because the credit card limit directly limits how much you can spend with this credit card.
Second, why reduce the credit card limit?
There are two main aspects to understand the credit card limit: increasing the limit and reducing the limit. At present, credit card holders are basically seeking to increase the quota.
We all know that the credit card limit is determined by the banking system. And the existence of credit cards itself is for profit. So if you make the bank feel that you are a credit card-oriented user and keep bringing benefits to credit cards, then your credit limit will have a chance to increase.
There are many tips to increase the credit card limit. My sister will tell you another day. Today, my sister mainly tells you how to avoid the decline of credit card limit.
1, prepayment
Theoretically, as long as the repayment is within the interest-free period, it is not overdue, so some new credit card users are very worried about forgetting the repayment date, so they repay the credit card "in time" every time.
To tell the truth, my sister doesn't know why she used a credit card. Wouldn't it be more convenient to pay directly in cash?
In fact, there is a customary habit of using credit cards: pay the bill on the day of repayment.
Early repayment is sometimes considered illegal. If the credit card limit is too large or too small, it may affect the credit card limit.
2. Overdue repayment
Everyone is familiar with overdue repayment, which means that the repayment is not made on time, only after the repayment date.
However, most bank credit cards have a time limit, usually three days. In other words, if you repay before 20:00 three days after the credit card repayment date, it can be regarded as timely repayment, and it is also a welfare for friends who easily forget the repayment date. The 20:00 here is the credit card capacity of most banks, and individual banks may be slightly different.
In addition, it should be noted here that the sharing of multiple credit card limits does not mean the sharing of repayment.
Now many banks have launched different series of credit cards, and some friends may have handled multiple credit cards in the same bank card. These credit cards share the total amount when they are used, but there may be cases where one credit card must be used for repayment. At this time, multiple credit cards are needed to repay one by one.
3. Always swipe your card at the same POS machine.
Now basically all formal financial institutions have their own risk control system. If your credit information is tainted, basically you can't apply for a credit card.
If you often swipe your card on the same POS machine, it will be considered as cashing out. At present, cashing out credit cards is a very serious violation. Once found, reducing the credit card limit is a relatively light punishment. In particular, the current risk control is tightening, and more attention should be paid to repayment on time.
In short, although credit cards provide great convenience for our lives, if they are not used well, they may go to the "abyss" because of excessive consumption.
Finally, America hopes that everyone can remember that every penny borrowed must be paid back and must be consumed rationally.
I'm here to share a few things about the credit card limit reduction. What else do you know that may lead to the reduction of credit card limit?