The consequences are as follows:

1. Excessive handling fees will be incurred. If you want to use a credit card for recurring repayments, you will need to withdraw cash. The handling fee for cash withdrawal is 0.05 of the cash withdrawal amount. %, and it is calculated on a daily basis;

2. If you consume too much or interrupt the cycle for other reasons, your credit card will be overdue, which will also have an impact on your personal credit;

3. According to the bank's regulations, if the credit card recurring repayment method is not in compliance with the regulations, it is also an illegal operation, and the bank will be punished if discovered.

Applying for a credit card:

In most cases, citizens with full capacity for civil conduct (citizens over 18 years old in mainland China) and with certain direct financial resources can apply to Apply for a credit card from the card issuing bank. Sometimes, legal persons can also be applicants.

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. To apply for a credit card, an individual 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. After the customer fills in the application form truthfully according to the content, the customer must also submit the relevant credit certificate while submitting the completed application form. The application form is accompanied by a credit card use contract. The applicant authorizes the card-issuing bank or relevant departments to investigate its relevant information, and submits a statement of the authenticity of the information, the card-issuing bank's privacy protection policy, etc., and must have the applicant's signature.

After receiving the application form and relevant materials from the applicant, the card-issuing bank must review the applicant's creditworthiness. The content of the review mainly includes whether the content of the application form is true. For the applicant, the creditworthiness of the applicant must be assessed. For individuals, the relevant circumstances of the guarantor must also be reviewed.

Usually, banks will judge whether to issue a credit card to the applicant based on the application information and various aspects of the applicant's information and financial situation. Factors considered include the applicant's past credit record, the applicant's known assets, professional characteristics, etc. The specific factors and processes reviewed by the card issuing bank are commercial secrets and are generally difficult for outsiders to understand. The standards of each card-issuing bank are also different. Therefore, the same materials may be issued with different credit limits and different types of credit cards in different banks. Some banks may even approve the application, while others may reject it. .