Why is it taboo for ABC to withdraw cash by credit card?
In fact, the credit card withdrawal of Agricultural Bank of China is a credit card cash advance, which transfers the amount within the credit card limit to the bank in the name of the provider. Agricultural Bank of China itself supports this service because it can earn fees and interest, but it is not very friendly to cardholders.
1, repayment pressure increases. After the withdrawal, ABC will incur a handling fee, which is generally 0% of the transaction amount of 65438+, and it will also calculate interest on a daily basis, with a daily interest rate of five ten thousandths. The point is that withdrawal does not enjoy the minimum repayment amount. As soon as the next bill comes out, the principal and interest expenses must be paid off in one lump sum, and the repayment pressure suddenly increases in the short term. If it is not enough, there will be overdue penalty interest and liquidated damages.
2. Affect personal credit. This is from point 1. In fact, this means that it cannot repay the full amount. If it is overdue, it will be reported to the central bank for credit reporting. Even if the money is repaid in the future, the bad records need to be eliminated after 5 years from the repayment date, which will affect the withdrawal of credit cards and the subsequent application for loans and credit cards.
3. It is not conducive to abstinence. Usually, if ABC has a credit line, it will be easier to withdraw the credit line, but if ABC's credit card is used before withdrawal, the cardholder's credit line will be gone. Some card friends have measured it. It turns out that the credit card of Agricultural Bank of China is a fixed amount of10.3 million. As a result, after withdrawing cash by credit card, the amount in the pocket bank was gone the next day.
The above is the relevant introduction of "ABC credit card withdrawal taboo", and I hope it will help everyone.