Why is the available limit wrong after paying off the credit card?
Actually, the credit card balance will not necessarily be restored after repayment. After all, there are some special circumstances. It is normal for the credit limit after repayment and the restored limit not to match, and it does not mean that the bank After repayment, the balance will be reduced, such as the following:
1. Only the principal of the arrears will be restored when interest charges are incurred: liquidated damages and interest generated by overdue credit cards, as well as interest generated by the minimum repayment , as well as handling fees incurred after the installment is processed, etc. These credit card interest fees will not be added to the credit card limit after repayment, so the actual restored limit after successful repayment must subtract this part of the interest fee from the total repayment amount.
2. Credit card cash withdrawals and repayments will be restored the next day: If you use a credit card to make purchases in the same month and withdraw cash from the credit card, although the outstanding amount is combined into one bill, it will only be restored immediately after the repayment. The consumption limit and cash withdrawal limit will not be restored until the next day.
3. Excessive consumption will only restore the fixed quota: including the use of temporary quotas, or excessive quotas, and no matter which quota is used, it can only be used if it exceeds the fixed quota, although it is not the same as the use of The fixed amount will be billed together, but only the fixed amount will be restored after repayment.
For example, if you use a credit card to spend 2,000 yuan, there is a temporary limit of 1,000 yuan. If you repay 2,000 yuan, it will only restore the limit of 1,000 yuan.
The above is the relevant introduction to "Why is the available limit wrong after paying off the credit card?" I hope it will be helpful to everyone.
Main features of credit card:
1. Credit card is one of the fastest growing financial services today. It is an electronic currency that can replace traditional cash circulation within a certain range. ;
2. Credit cards have both payment and credit functions. Cardholders can use it to purchase goods or enjoy services, and can also obtain certain loans from card issuers by using credit cards;
3. Credit cards are high-tech products that integrate financial services and computer technology.
4. Credit cards can reduce the use of cash;
5. Credit cards can provide settlement services, facilitate shopping and consumption, and enhance a sense of security;
6. Credit cards It can simplify the collection procedures and save social labor;
7. Credit cards can promote product sales and meet social needs.
Main types
According to different card issuers, they can be divided into bank cards and non-bank cards
Bank cards. This is a credit card issued by a bank. Cardholders can shop at the card-issuing bank's special merchants, and can also withdraw cash at any time at any branch of the card-issuing bank or at places with ATMs.
Non-bank card. Such cards can be specifically divided into retail credit cards and travel and entertainment cards. Retail credit cards are credit cards issued by commercial institutions, such as department stores, petroleum companies, etc., which are specially used for shopping in designated stores or refueling at gasoline stations, etc., and are settled regularly. Travel and entertainment cards are credit cards issued by the service industry, such as airlines, travel companies, etc., used for purchasing tickets, meals, accommodation, entertainment, etc.
According to the different objects of card issuance, it can be divided into corporate cards and personal cards
Corporate cards. Company cards are issued to various industrial and commercial enterprises, scientific research and education institutions, national party and government agencies, military units, groups and other legal entities.
Personal card. Personal cards are issued to urban and rural residents, including workers, cadres, teachers, scientific and technological workers, self-employed households and other adult urban and rural residents with stable sources of income. A personal card is applied for in the name of an individual and he/she bears all responsibilities for using the card.
According to the credit status, status and other credit conditions of the cardholder, it can be divided into ordinary cards and gold cards
Ordinary cards. Ordinary cards are issued to cardholders with average financial strength, credibility and status, and their various requirements are not high.
Gold Card. A gold card is a high-end credit card that pays high membership fees and enjoys special benefits. Cards are issued to those with higher credit standing, stronger repayment ability and credit, or those with a certain social status. The authorization limit of the gold card starts from a higher level, and the additional service items and scope are much wider, so the requirements for relevant service fees and security deposits are also relatively high.
According to different repayment methods, credit cards can be divided into credit cards and debit cards
Credit cards.
It is a card-issuing bank that provides bank credit. When making a payment, it is first used as an overdraft, and then repaid or paid in installments. Most of these cards are used internationally. That is to say, the way that cardholders are allowed to pay off their credit card accounts without deposits is "spend first, deposit later". Most of the cards currently used internationally are of this type.
Credit and debit cards. It is a credit card issued by a bank that allows you to deposit money first and spend later. When applying for a credit card, cardholders need to deposit a certain amount of money in the card-issuing bank for backup. Cardholders need to use the deposit balance as a basis when using the card. Overdrafts are generally not allowed.
Why is the available limit wrong after paying off the credit card? These situations are quite special
Friends who have used credit cards know that the credit limit will be restored after repaying the credit card. Many people think that the limit will increase accordingly as the credit card is repaid, but many people do not I have encountered situations where the available credit limit and the repayment limit do not match up. So, why is the available limit wrong after paying off the credit card? Let’s take a look today.
Why is the available limit wrong after paying off the credit card?
Actually, the credit card balance will not necessarily be restored after repayment. After all, there are some special circumstances. It is normal for the credit limit after repayment and the restored limit not to match, and it does not mean that the bank After repayment, the balance will be reduced, such as the following:
1. Only the principal of the arrears will be restored when interest charges are incurred: liquidated damages and interest generated by overdue credit cards, as well as interest generated by the minimum repayment , as well as handling fees incurred after the installment is processed, etc. These credit card interest fees will not be added to the credit card limit after repayment, so the actual restored limit after successful repayment must subtract this part of the interest fee from the total repayment amount.
2. Credit card cash withdrawals and repayments will be restored the next day: If you use a credit card to make purchases in the same month and withdraw cash from the credit card, although the outstanding amount is combined into one bill, it will only be restored immediately after the repayment. The consumption limit and cash withdrawal limit will not be restored until the next day.
3. Excessive consumption will only restore the fixed quota: including the use of temporary quotas, or excessive quotas, and no matter which quota is used, it can only be used if it exceeds the fixed quota, although it is not the same as the use of The fixed amount will be billed together, but only the fixed amount will be restored after repayment. For example, if you use a credit card to spend 2,000 yuan, there is a temporary limit of 1,000 yuan. You must repay 2,000 yuan, but only 1,000 yuan of the limit will be restored.
The above is the relevant introduction to "Why is the available limit wrong after paying off the credit card?" I hope it will be helpful to everyone.
Why is there a serious discrepancy between the available credit limit and the balance of China Construction Bank's credit card?
Explanation of credit card terms:
The credit limit is the total amount of credit on your card What is the amount?
The available limit is the amount you can currently overdraft.
The current balance is the amount that has been overdrafted so far. If this number is positive, it means how much overdraft you have now; if this number is negative, it means you have extra deposits, which is overpayment.
It stands to reason that the available limit should be the credit limit minus the balance, but in fact the available limit is wrong. There may be several reasons:
1. You have several credit lines under your name at CCB For a credit card, because the limit is exclusive, the use of other cards will affect this card.
2. If you have applied for installment payment, the entire amount of the installment will occupy the credit limit. It will only be gradually released after the installment is recorded and you repay.
3. You have an amount that has not been recorded yet, because once you consume, the available amount will be reduced, but the balance will not change until the consumption is recorded.
Extended information:
Credit card application:
If customers want to apply for a credit card, they can directly bring their personal ID and proof of income (such as bank statements, pay slips ) and other relevant information, go to the counter of the selected bank's offline business outlet to ask the staff to apply for a card, then get the application form to fill in, and then hand the completed form together with the information to the staff, and then just wait patiently for the bank Just review
After the bank has completed the approval, it will naturally send a message to notify the customer. If the approval is passed, a card will be printed for the customer, and then the prepared card will be mailed to the customer. Customers can activate it after receiving the card.
Of course, in addition to applying at branches, customers can also apply directly on the bank's official website, mobile banking client or credit card APP. However, everyone needs to be aware that if you apply for a credit card from a bank online for the first time, you may have to go to the bank for an interview later.
Customers should pay attention to keeping the phone open after submitting the card application, because some banks may call the customer to ask for some relevant information during the review. In this regard, if the call is not received in time, it may have a certain impact on the card approval.
Credit card limit increase:
When applying for a credit card, the bank will approve the limit based on the applicant's comprehensive qualifications, and the credit card can also be used to increase the limit. The method is as follows:
1. Use more credit cards to spend money
If you want to increase your credit card limit, you should use more credit cards to make purchases. Try to use your card where you can. It is best to keep the credit card before applying for the limit increase. Have a stable consumption record for several months, and it is best to make about 20 transactions every month. The merchants where the card is swiped should also be diversified.
2. Appropriate installment arrangements
Appropriate installment arrangements are conducive to credit card limit increases, but it is best not to make the installments too long. 3 to 6 installments are enough, and the installments are The amount should not be too large either. For example, it is very suitable to apply for installment after consumption during some holidays, and the success rate of increasing the amount is also high.
3. Keep good card usage records
If you want to increase your credit card limit, good card usage records are essential, because if you have a bad record on your credit report, you will not be able to increase your credit limit. Yes, so when repaying a credit card, you must pay it back on time to avoid overdue payments and avoid illegal operations such as cashing out.
Is the available limit after credit card repayment different from the restored amount? It may be due to these reasons
Friends who have used credit cards should know that the credit card limit will be restored with repayment, and many people understand that the available limit will be restored as much as you repay, but in fact there is Many people find it strange that the available limit after repaying a credit card is different from the restored amount. Today I will briefly explain the reason.
Why is the available credit limit after repayment different from the restored limit?
Usually related to the type of limit, credit card limits are roughly divided into four types: fixed limit, excess limit, temporary limit, and special limit.
1. Fixed limit: It is the initial limit issued by the bank after the card is approved. The available limit will be reduced with use and restored after repayment. Usually the available limit will be restored after the fixed limit is used, but in some cases In some cases, the cardholder's credit card is subject to risk control by the bank, and the bank may reduce the balance after just paying off the loan.
2. Over limit: Some banks can exceed the limit. It will be triggered when the last transaction amount exceeds the current available limit. Transactions can be successful within 5% of the credit limit, but if If you repay after exceeding the limit, only the fixed limit that has been used will be restored. The over limit cannot be restored, which will cause the available limit after repayment to be different from the restored limit.
3. Temporary quota: The bank will increase the temporary quota for some high-quality customers. It can also be used after the fixed quota is used up. However, there is a period of use. You can repay as much as you use within the period. Any unused quota will be repaid. It will automatically expire, and the temporary limit that has been used after repayment cannot be restored.
4. Special quota: This quota is used for installment and is separate from the fixed quota. The special quota of many banks is a one-time credit grant and cannot be used repeatedly. It will not be repaid after use. If you have used up the entire limit and want to borrow again, you will need to be re-approved by the bank, and the limit may be different from the previous one.
The above is the relevant introduction to "the difference between the available limit and the recovery after credit card repayment". I hope it will be helpful to everyone.
This is the end of the introduction about the impact of incorrect credit card limit and incorrect credit card limit. I wonder if you found the information you need?