Which interest rate is lower, credit card or loan?

Generally, credit card interest rates are lower.

Normal credit card consumption has no interest, but there is interest on the loan, so the loan interest is higher. However, if you pay in installments or withdraw money with a credit card, the interest rate may be as high as a loan or higher.

Among bank consumer loan interest rates, the lowest annual interest rate for short-term loans is 4.35, and the lowest annual interest rate for medium- and long-term loans is 4.9. The daily interest rate for bank credit card loans is generally around 0.05, which translates into an annual interest rate of approximately 18. In contrast, the interest on bank consumer loans is slightly lower than the interest on credit card withdrawals.

If the borrower applies for a bank online consumer loan, taking CCB Express Loan as an example, the lowest daily interest rate is 0.02, which is lower than the credit card cash withdrawal interest rate. However, each lender's individual qualifications are different. The specific loan interest rates that lenders can apply for still need to be determined based on actual circumstances.

1. Credit card interest calculation:

1. Credit cards can be divided into debit cards and cash cards. If you can transfer money, you must transfer money. Do not withdraw cash. Card transfer consumption does not charge any handling fees and interest within a certain period.

2. However, cash withdrawals are not only subject to handling fees, but also interest from the date of cash withdrawal until it is paid in full. When a credit card is issued, it has a billing date and a repayment date.

3. The difference between these two days is about 20 days. For consumer credit card swipes, there is no interest if paid in full before maturity. If the full amount is not repaid when due, the interest payment will be calculated separately from the date of consumption.

4 Interest should be recorded to the day before the repayment date, and the outstanding portion should be recorded to the date of the note. When making monthly repayments, interest and fees should be paid first, followed by the outstanding portion of the minimum repayment amount and the portion in excess of the credit limit. Unpaid consumer balances and cash advance balances are calculated as 10.

2. Calculation of bank loan interest:

1. Based on the actual situation, the loan interest rate mainly depends on the loan interest rate of each lending institution, and generally fluctuates within the interest rate range prescribed by the central bank.

2. Repayment method: Due to different repayment methods, such as equal principal repayment method, the monthly loan interest paid is different.

3. However, no matter what kind of loan, there are unified standard calculation rules for loan interest.

4. Standard formula: The current month’s loan interest is equal to the remaining principal of the previous month multiplied by the monthly loan interest rate. The principal repayment for the current month is equal to the monthly repayment amount minus the monthly loan interest. Last month's remaining principal is equal to the total loan amount minus the accumulated principal repaid.

However, you must control your credit limit when using a credit card.

When we want to apply for a card ourselves, many people hope that the higher the credit limit after evaluation, the better, so that they can buy more or more expensive things. In fact, you may not necessarily actually buy it, but you still want your credit limit to be higher. But what you need to understand is that in addition to helping you buy big-ticket items and beloved things that you have been reluctant to buy, your credit line may also become a burden if your repayment plan exceeds the load of your salary income. A trap for you. Therefore, try your best to control your credit limit within three times of your disposable income, so as not to affect your normal life process.

How much is the interest rate for a credit card loan of RMB 300,000 per year? What is the approximate interest rate for an online loan loan of RMB 300,000 per year?

The interest rate for an online loan of RMB 300,000 per year is around RMB 20,000 to RMB 50,000 per year.

If the loan that the user applies for is an ordinary bank loan such as a decoration loan, a credit loan, a pure commercial loan, etc., then the one-year loan interest rate that most users can apply for is basically between 4.35 and 4.77. So assuming that the user applies for a loan of 300,000 yuan, the interest will basically be between 13,050-14,310 yuan after one year.

Notes on the use of credit cards

Many cardholders are unwilling to open a card and use it because of the low card limit. If it is Guangfa Bank, you can try to freeze the limit, that is, if you do not use it for a period of time, After activation, China Guangfa Bank will take the initiative to increase the amount.

If it is from another bank, it is recommended to cancel the card (account cancellation): as mentioned above, once the card is approved, the credit card account will be displayed on your credit report, including the limit information. . First of all, its limit is not high, so the bank you apply for later will refer to this limit to approve your card; secondly, although its limit is not high, it still occupies your total credit limit.

Whether credit card interest is low or online loan interest is low

In terms of interest, banks are relatively reasonable. If it is overdue, the interest is basically calculated based on 5, without considering compound interest. There are also handling fees, etc.

If you apply for overdue installments through debt restructuring, although you cannot guarantee a 100% interest rate suspension, you can control it within 10%, or you can get a higher installment.

People who have suffered from online loans should be aware of how high the interest rate is.

Credit cards generally have no interest if they are repaid on time and in full. In addition, there is no interest for overdrafts. Cash withdrawals also charge a certain amount of interest and handling fees. The interest is calculated on a daily basis, which is also 0.5%. The interest is calculated from the day the cash is withdrawn, and the handling fee is charged at 0.5 (minimum 2 yuan/transaction).

If you can control your credit card consumption and repay it on time every month, your credit card will always be interest-free. You only need to pay the bank the amount you spent without interest

Overdue repayment or If the loan is not repaid in full, the bank will charge interest.

In this case, credit card interest is calculated from the date the consumption is recorded. Interest is charged at 0.05% per day, and compound interest is calculated on a monthly basis. In other words, if this month's interest is not paid off, the interest will be charged next month. These monthly interests will also accrue interest

In addition to interest, failure to repay on time using a credit card will also incur other charges, such as late fees for overdue repayments, etc. Cardholders must pay attention when using credit cards. Be aware of credit card fees.

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.

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.

Applicants for credit cards can be divided into units and individuals. Applicants should be institutions, enterprises and business units, foreign-funded enterprises and individual industrial and commercial households with independent legal person status in my country. Each unit applying for a credit card can receive a main card and multiple (5-10) supplementary cards as needed.

Individuals applying for credit cards must have a fixed occupation and a stable source of income, and provide a guarantee to the bank. The forms of guarantee include personal guarantee, unit guarantee and personal capital guarantee.

The application method is generally by filling in a credit card application form. The content of the application form generally includes the name of the applicant, basic information, economic status or source of income, guarantor and his/her basic information, etc. And submit certain copies of documents and certificates to the card issuing bank.

The interest rate of Wanwu credit card is higher than that of online loan, right?

The interest rate of Wanwu credit card is higher than that of online loan, right? . How much is the interest rate for online loans? After reading this, you will be able to know how much interest rates are for credit cards and online loans. The interest of online loans is generally calculated based on the annualized interest rate. For example, the annualized interest rate given by the bank is in the middle. For example, the daily interest rate given by the bank is 0.05%, and the annualized interest rate given by the bank is 0.2%. , the daily interest rate given by the bank is 5/10,000. If the annualized interest rate given by the bank is 5/10,000, the daily interest rate given by the bank is 6/10,000. It can be said that whether it is online loan interest or online loan interest They are all relatively high. As for whether the interest rate of credit cards is higher than that of online loans, we can all see what the interest rate of credit card loans is.

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Zhao Fengrui

Recently received 1.50,000 likes

The interest rate of credit cards is definitely higher than that of online loans.

So if you are in a hurry to use money and choose an online loan, it will definitely be much higher than an online loan.

Answered at 2022-06-0712:07:50

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Gong Zilong is a high-quality answerer

Official certification: high-quality in the financial field The respondent has accepted

In fact, compared with online loans, credit cards are easier to pass and the success rate of application will be higher. Regarding this point, the editor would like to introduce you to take a look in detail. According to the credit card interest calculation method, as long as we use Alipay's date, the daily interest rate of the credit card is still the normal one announced by the People's Bank of China, which is not the lowest. Looking at the daily interest rate of credit cards, we can also get a low one. If you want to know whether the interest rate of a credit card is higher than that of an online loan, let’s first take a look at the daily interest rate of the loan. Generally speaking, the monthly interest rate for credit card loans is around 0.05%. There are three calculation methods for credit card loans: equal principal and interest and equal principal. The monthly interest rate of the loan is 5/10,000 points and the monthly interest rate is 6/10,000 points respectively. The monthly payments on an equal principal and interest loan are the same, but the monthly payments are the same and the interest decreases each month. The total principal amount of the loan repaid is equal to the total principal amount, and the monthly repayments are the same.

Answered on 2022-06-0917:08:28

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liangjiangjing

More than 100 users have adopted his answer

Assume a loan of 100,000 yuan is repaid in 3 months, then the actual repayment period is 100,000 yuan; in the second month, the repayment amount is 3,000 yuan, plus handling fees, the total cost is 9,600.2 Yuan. Case analysis: According to Xiao Wang’s bill, the monthly repayment amount is 1,000 yuan, that is: 1,000 yuan (living expenses) x 0.053 yuan. Bill installment and direct application for installment: Both methods require payment of handling fees. One is a one-time repayment of the first installment, and the other is an installment period of 3 installments. If you choose the date or the last repayment date, the rates for both methods are charged on a monthly basis. However, when applying, the bank will calculate the procedure based on 0.7 of the "total bill amount" (i.e., the "monthly repayment amount"). This algorithm allows Xiao Wang to apply for installment and then reduce the handling fee. If Xiao Wang chooses the former, the rate will be relatively lower than that of the latter, because the installment handling fee needs to be paid every month, which means that it is actually relatively low. As for monthly repayment, this method may not be particularly necessary for passive income.

Do you really know what the real interest rate is for credit cards, online loans and other credit loans?

Nowadays, many debtors are stuck in the quagmire and have been unable to pay off their debts. In fact, they have been paying back more and more, and they have not thought about why? Let’s use the simplest example to calculate.

Take a credit card as an example. The ordinary credit card installment interest rate is 5_, which means that if you borrow 10,000 yuan, the interest per day is 5 yuan. If you borrow a principal of 12,000 yuan, it will be divided into 12 installments, each installment. Repay 1,000 yuan.

Simply look at borrowing 12,000 yuan and paying 2,160 yuan in interest. The annual interest rate is 18, which is less than 2 cents per month. But in fact, your monthly cost is 18 cents. The deposit is decreasing. When you are in the 12th installment, your principal is only 1,000 yuan, but you bear 180 yuan in interest. According to calculations by professionals, the highest comprehensive annual interest rate is close to 60, which is often said to be 60.

Is this kind of borrowing cost scary? It’s really not surprising. How many commercial services can achieve a profit of 60 in the real world? If your positive income balance is not enough to cover the total interest, then you will never be able to repay these loans.

Most debtors like to pay for things. Please remember this sentence: "Everything has a cost." Financing cash flow will never be able to solve your liabilities."

This is the end of the introduction on how to calculate the interest on credit card online loans and how to calculate the interest on online credit card loans. I don’t know if you will find your way there. Need the information?