"Your credit card has so many uses. Not only shopping, eating and watching movies have discounts, but also can be used for decoration. The ratio is also very low. It is only more than 2, yuan a year, which is much more cost-effective than renting a house. " Recently, Mr Yao expressed his gratitude to the staff of Tongcheng Rural Commercial Bank.

Teacher Yao, who just bought a new house last year, wants to accompany her to the city to provide her with a better learning environment because her daughter has been admitted to a high school in Anqing this year. I want to decorate the new house I just bought in the urban area, but I am suffering from insufficient decoration funds. I am going to rent a house near the school to accompany me.

for most property buyers, buying a house and decorating it is also an expensive event. In response to this problem, Tongcheng Rural Commercial Bank has specially launched the credit card "home improvement by stages" business, which is mainly used for the renovation of commercial houses owned or owned by credit card holders to help buyers move into new homes as soon as possible. Teacher Yao is the first beneficiary of the bank's credit card "home improvement installment" business.

after receiving Mr. Yao's application, the bank comprehensively considered his work and family income. And after on-the-spot investigation of the renovation of new houses, 8, yuan was quickly distributed in 6 phases. This not only helped Mr. Yao to live in the new house early, but also solved the housing problem of Mr. Yao's accompanying students, saving more than 1 thousand yuan in rent every year. (Zhang Hang) Related Q&A: Related Q&A: Which is more cost-effective, decoration loan or credit card?

as a senior bank loan business manager, I have the most say! !

according to the subject, which is more cost-effective: decoration loan or credit card!

Let's calculate an account:

First, the renovation loan is 2, yuan, and the monthly interest rate is 54 yuan, so the monthly rate is .27%;

Cash in the credit card is 2, yuan, and the credit card interest rate is .55%, so it is 1,1 yuan a month,

Obviously, .55% > .27,1 yuan.

of course, because of the monthly salary repayment, the cash amount of the credit card will decrease every month, but it also depends on the specific repayment amount!

let's calculate (11-54)/.55% = 98182, 2-98182=11818, which means that only in a short time, when the repayment amount reaches 11818 yuan and the remaining principal is less than 98182 yuan, the monthly interest will be lower than that of the decoration loan!

This also takes into account the author's monthly salary. If the salary is very high, he can pay back more than 1, yuan a month, so it's okay to cash out, and it can be paid off in less than two years, but if the monthly income is not high, he will still pay back according to the amount of the decoration loan of 2,/12/5+54 = 3,873.34! After all, the repayment pressure is not great, and I am not tired! !

Let's talk about the harm of a set of credit cards:

First of all, legal issues. Strictly speaking, it is illegal to cash out credit cards, but because the cash-out crowd is relatively large, banks turn a blind eye as long as they don't go too far.

secondly, the issue of quota. Your credit card is cashed out at 2, yuan, and at least the total amount of the credit card should exceed 2, yuan, otherwise it won't be set!

furthermore, the issue of risk. You have to cash out your credit card for a long time, and it will take at least five years (according to the repayment time of the decoration loan, if you have a large amount of money in the middle, you can repay it in advance, then you can set it a little less), 2, yuan, which is 6,667 yuan a month. You are immersed in the process of cashing out your credit card every day, and some people will say, then I won't set it every day, but I will set it at one time if you have the total amount of five credit cards. !

finally, people's feelings. You set up a credit card every day, and you have to pay it back almost every day, and you have to cash it out and repay it. Are you tired? What if you forget to repay it one day, or the money is spent, there is no turnover, there is no money to repay it, and the credit information is overdue? Unlike decoration loans, it is ok to repay them on time when they are due every month!

so on the whole, it's still a good deal to borrow money for decoration!

finally, the question of whether we can make decoration loans is divided into banks. As far as I know, the ones that can generally make decoration loans are Agricultural Bank of China, Industrial and Commercial Bank of China and China Construction Bank. ICBC can't make two decoration loans, but ABC and China Construction Bank can, but there are two kinds of decoration loans, one is in the form of installment cards, so you can't make two loans, and the other is pure loans, so you can make two! ! At present, the renovation loan activity of CCB can be .25%, which is .3% in normal times! But there must be a house and a better approval of CCB mortgage! !

The above is my humble opinion. Please correct me if there are any mistakes. Thank you! ! If you like it, pay attention to it (? ˉωˉ? )

I'm Huazai Xiansen, a professional financial practitioner. Pay attention to me and show you more financial knowledge! !