Trying to use credit card funds to speculate in stocks or buy a house? Notice! If you engage in these behaviors, some or all of your credit card functions will be terminated by the bank, including but not limited to adjusting credit limits, locking accounts, emergency payment stops, merchant transaction limits, etc.

Recently, the credit card centers of many commercial banks have issued announcements stating that they will further strengthen the standardization of the use of credit cards and clearly require that credit card overdrafts should be used in the consumption field and shall not be used in non-consumption fields such as production, operation, and investment. , including house purchase, securities investment, financial management, other equity investments and other prohibited areas.

In addition to clarifying the above prohibited areas, the Ping An Bank Credit Card Center also stated that cardholders are not allowed to use any illegal or false consumption such as cashing out, fraud, malicious billing, etc. to obtain bank credit funds, points, rights, prizes or Value-added services; cardholders shall not use any fraudulent means or illegal tools to maliciously obtain benefits or discounts.

“If the cardholder uses our credit card to carry out transactions beyond the normal purpose of funds, it may cause the transaction to fail.” The relevant person in charge of the Everbright Bank Credit Card Center said that reduction, stop payment, Control measures such as freezing and card locking, "In order to ensure the normal use of the card in the future, cardholders must properly keep the transaction vouchers that are consistent with the purpose of the credit card transaction in order to cooperate with the bank for verification."

At the same time, Ping An Bank also stated that the bank reserves the right to require cardholders to provide transaction vouchers such as consumption transaction invoices and consumption receipts to identify relevant transaction risks.

So, why do many banks take strict measures to control the use of credit card funds? Many industry insiders said that this is related to the regulatory authorities' strict investigation of illegal entry of credit funds into the market and the regulation of the use of credit cards.

Take personal housing loans as an example. In recent years, although the regulatory authorities have introduced a number of measures to implement "housing is for living, not for speculation" and promote the stable and healthy development of the real estate market, individual violations still occur from time to time, and the fraudulent use of credit card funds is a typical example.

Economic Daily reporter learned that at present, the personal consumption loan limit of most banks is linked to the credit card limit. For example, if the cardholder's credit card limit is 100,000 yuan, the upper limit of unsecured, pure credit personal consumption loans he can borrow from the bank is 100,000 yuan. Therefore, individual home buyers have started to turn "personal consumption loans" into The idea of ??a “down payment for a home”.

In addition, individual home buyers also use credit card funds as "bridging funds." For example, a house buyer currently has a fund gap of 1 million yuan, and he first makes up for the gap by cashing out credit card funds from multiple banks. After the house is transferred, the buyer will use the house as collateral to apply for a personal business loan at the bank, and then use the loan funds to repay the above credit card debt. This process is equivalent to "crossing the bridge" with credit card funds.

It is understood that since the current interest rate of personal business loans is much lower than the interest rate of second-home commercial loans, many home buyers cooperate with intermediary companies and use the above methods to complete arbitrage.

In order to reduce the above chaos, strictly controlling the flow of credit card funds has become an important starting point.

“First of all, we must scientifically understand the functions of credit cards.” The relevant person in charge of the China Banking and Insurance Regulatory Commission said that credit cards are consumer loan tools, and their main function is to meet the daily, high-frequency, and small-amount consumption needs of financial consumers. , to facilitate consumers’ lives and better support consumption.

Consumers must not illegally use credit card borrowings in non-consumption areas such as real estate, securities, funds, financial management, etc., and must not increase financial leverage. Otherwise, it may lead to unsustainable personal or family finances, and may also cause financial problems. Institutional risk accumulation.

In addition, in order to better protect the security of card use, cardholders also need to note that credit cards can only be used by the cardholder himself, and the credit card or its account may not be rented, loaned, resold, sold or purchased; Cardholders should properly keep their credit card passwords, card verification codes, dynamic passwords and other information and do not actively disclose them to others.

It is worth noting that if a credit card is in arrears or defaults on annual fees, it will incur interest costs and may even affect personal credit.

“When applying for and using a credit card, consumers should fully understand credit card-related information such as credit card interest accrual rules, billing dates, annual fees, and methods of collecting liquidated damages.

"The above-mentioned person in charge of the China Banking and Insurance Regulatory Commission said that credit card installment repayment and minimum repayment methods can temporarily relieve pressure, but they will also incur corresponding fees and interest. Consumers should reasonably choose credit card installment repayment or minimum repayment methods to avoid credit card Overdue.