What is the Pudong Development Bank Credit Card Universal Gold?

The Shanghai Pudong Development Bank Credit Card Universal Gold business is a disguised form of using a credit limit instead of a credit limit.

The Universal Money cannot be withdrawn directly in cash, but must be transferred to the applicant's debit card first. It is essentially a credit loan, and the credit card limit is approved by the credit card department. The universal limit is not included in the credit limit. It exists in the form of a loan and is a credit limit issued based on a credit card. The review of the credit limit is generally determined by the credit department.

Pudong Development Bank’s Universal Gold is based on a credit card and is an installment loan beyond the credit card limit of Shanghai Pudong Development Bank. Cardholders can submit an application to Shanghai Pudong Development Bank, and after you swipe the card, you can repay it in installments.

Shanghai Pudong Development Bank has clear regulations on the use of Wanyong Gold. Cardholders must keep the relevant consumption vouchers for cash payments so that the Shanghai Pudong Development Bank Credit Card Center can access them at any time to check where the funds have gone.

It clearly stipulates that Wanyong Gold can only be used for consumption, including but not limited to decoration, weddings, car purchases, home appliances, weddings, student aid, travel, medical care, etc.; it cannot be used for investment, including stocks and futures. , house purchase, and other equity investments, etc.

What does Shanghai Pudong Development Bank Universal Gold mean?

The meaning is as follows:

1. Pudong Development Credit Card Universal Cash is equivalent to the cash advance business of other banks, which means borrowing cash in advance from the card issuing bank and then repaying it in installments. Cash advance loans charge handling fees, and the handling fees vary according to the number of installments.

2. The "Wanyongjin" business loan interest rate is lower than the credit card overdraft interest rate. A one-year loan of 10,000 yuan only needs to repay 900.7 yuan per month (of which the interest is 67.4 yuan), regardless of funds. The time value, the annual interest rate is 8.084%; the two-year loan, the annual interest rate is 7.9%; the three-year loan, the annual interest rate is 7.971%, and they are all repaid in monthly installments.

3. A bank credit card center person analyzed that the "Wanyongjin" business has two main selling points. First, compared with credit card cash withdrawals, the interest rate is lower, which is equivalent to the interest rate of personal consumption loans; There are almost no restrictions on the use of funds, and users can use them as they please.

Extended information

Application details of Shanghai Pudong Development Bank Universal Gold

After having a credit card, many people will use credit cards to withdraw cash when they are in urgent need of cash. Relieve a temporary need.

1. Recently, reporters learned from the Credit Card Department of Shanghai Pudong Development Bank Changzhou Branch that with a Pudong Development Bank credit card and debit card, you can open the "Universal Gold" business in a short time. Pudong Development Bank will The maximum amount of cash that the customer's credit card limit can be put into their debit card is the same proportion. This fund is the funds that Shanghai Pudong Development Bank allows the customer to use freely in addition to the customer's credit limit.

2. Compared with credit card cash withdrawals, the interest rate of Shanghai Pudong Development Bank’s credit card “Universal Gold” business is lower, and users can withdraw money as they wish. A staff member of the Credit Card Department of Shanghai Pudong Development Bank Changzhou Branch said that the launch of the bank’s many credit card rights and preferential activities is to hope that users can find the best rights and interests for themselves through the card, so that more consumers can feel that Shanghai Pudong Development Bank provides inclusive finance. Improvement in quality of life.