Increasing the temporary credit line allows cardholders to enjoy the convenience of spending during the peak consumption period, but the temporary credit line does not enjoy revolving credit. The actual credit limit of the credit card exceeding the original credit limit will be included in the minimum repayment amount of the current statement, which needs to be paid off in one lump sum before the due repayment date.
Temporary restrictions should be used skillfully. Most banks can't choose installment repayment or minimum repayment amount when repaying credit cards within the temporary limit, so if they don't repay in full within the time limit, they will be charged the maximum 5% overrun fee, which will even affect their credit history.
Extended data:
When it comes to credit card repayment, we must first distinguish the difference between credit card repayment date and billing date.
1, credit card billing date: the cut-off point for calculating the total amount of your credit card for one month. If your bill date is 16, then the bill of 10 will count your credit card spending from September 17 to June 16. This time has been set before the credit card is issued. Some banks can change their bills by phone, while others can't.
2. Credit card repayment date: Credit card repayment date refers to the final repayment time stipulated by the bank for credit card accounts. You can enjoy interest-free repayment if you pay off your debts within the repayment time. If it exceeds the time, it will cause overdue and generate overdue fees. It is generally recommended to repay at least 2-3 days in advance.
3. Relationship between billing date and repayment date: billing date and repayment date are related. When the bill comes out, it means that it needs to be repaid this month. There will be a buffer period between the bill date and the repayment date of the general bank. This period is also called interest-free period, the longest is 50-56 days, and the shortest is 18-20. The data are for reference only.
References:
Baidu encyclopedia-temporary quota