Belong to.
As an important development product in the financial industry, credit card is not only a kind of consumer credit. The credit card industry now has a new development model. Credit card is a closed-loop model, which can realize self-profit.
Credit card, also called debit card, is a credit certificate issued by a commercial bank or credit card company to eligible consumers. It is a card with name, expiration date, number and cardholder's name printed on the front, and a magnetic stripe and signature strip on the back.
Which is more cost-effective to distinguish between credit card loans and personal financial loans?
The biggest difference between credit card loan and personal loan is that credit card is more convenient, and there are other differences in interest, term, application method and repayment method. See my introduction for details.
1. Different operators
Literally, it is not difficult to see that credit card loan is based on credit card platform to carry out credit card installment or cash advance business; Credit loan is a loan fund attached to the full trust of the borrower's qualification.
2. The loan amount is different
It is difficult for many card friends to break through the 20,000 yuan mark, and they can't get rid of the four-digit "curse". If they want to borrow money to travel, buy a car and decorate, it seems that they are a little short of money. In contrast, credit loans are natural and graceful, and the amount of credit loans is mostly 10 times of personal monthly income. As long as your monthly income exceeds 2000 yuan, the amount of credit loans can easily exceed that of credit cards.
3. The loan term is different
Generally speaking, credit cards are mainly short-term, the longest is 24 periods, that is, two years, while credit loans have laid a long-distance running route, which can reach five years at the longest.
4. Different cost of capital
As far as the capital cost is concerned, the credit card is divided into 12 months, and the handling fee is roughly in the range of 7%-22% of the credit loan. Obviously, the capital cost of credit loans has almost no advantage. But this is not the case. At this time, I suddenly thought of a classic: sometimes what the eyes see is not necessarily true, but it really doesn't necessarily let you see it. In fact, credit card installment has made great efforts in the calculation method, which has confused consumers' hearts.
Under the rules of the game of repaying part of the principal and interest on a monthly basis, even in the last installment, the credit card will persistently charge the handling fee in full, while the credit loan actually charges interest according to the actual principal. When calculating the economic account, you will feel dumbfounded. If the expected annualized interest rate of credit loans is 15%, the former interest is RMB and the latter RMB, but it saves nearly 15 yuan. From this point of view, in terms of capital cost, which is higher or lower, you really have a steelyard in your heart, weigh it carefully, and you can't just look at "superficial kung fu".
5. Advance payment rules are different.
In addition to fiddling with the calculation method, credit card installment also likes to make a fuss about prepayment. Specifically, in the face of customers who prepay, the card bank will always accept all orders in an approachable manner, but the extra handling fee will not be returned with a cold face. In contrast, the rules and regulations of credit loans seem to be consistent and feasible. On the premise of allowing early repayment, the residual interest can be exempted and only a part of the liquidated damages can be paid.
What if I fail to apply for a credit card loan?
You can choose credit card installment and sort out the interest expense schedule of major banks.
What's the difference between credit card and financial management?
1, credit cards can be overdrawn, and savings cards must deposit a certain amount before they can be consumed.
2. You can choose confidential payment when swiping the card, and you must enter the password for the savings card.
The money deposited in the credit card has no current interest, while the money in the savings card has current interest.
4. There is a handling fee for cash withdrawal by credit card, but no handling fee for cash withdrawal by savings card.
The annual fee of credit card is relatively high. Some bank savings cards have annual fees, and most banks are exempt from annual fees.
It is more difficult to apply for a credit card than a savings card. You need proof of income to apply for a credit card, but you can apply for a savings card as long as you have civil capacity.
In most cases, citizens with full civil capacity (citizens aged 65-438+08 in Chinese mainland) who have a certain direct source of income can apply for a credit card from the issuing bank. Sometimes, a legal person can also be an applicant.
The object of applying for credit card can be divided into units and individuals. Applicants should be organs, enterprises and institutions, foreign-invested enterprises and individual industrial and commercial households with independent legal personality in China. When applying for a credit card, each unit can get 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 guarantees to banks. The forms of guarantee include personal guarantee, unit guarantee and personal fund guarantee.
The application method is generally by filling in a credit card application form, which generally includes the applicant's name, basic information, economic situation or income source, guarantor and its basic information. And submit some copies of certificates and vouchers to the issuing bank.
After filling in the application form truthfully, the customer shall submit the completed application form and relevant credit certificate. A credit card contract is attached to the application form. The applicant authorizes the issuing bank or relevant departments to investigate the relevant information, and submit the information authenticity statement and the privacy protection policy of the issuing bank. , and must have the applicant's autograph.
After receiving the application form and related materials submitted by the applicant, the issuing bank shall review the applicant's credit standing. The contents of the audit mainly include whether the contents of the application form are true, evaluating the credit degree of the applicant, and auditing the relevant information of the personal guarantor.
Usually, the bank will review the information and economic situation of the applicant according to the application materials to judge whether to issue a credit card to the applicant. The factors considered include the applicant's past credit record, the applicant's known assets, professional characteristics, etc.
The specific factors and process of the issuer's audit are trade secrets, which are generally difficult for the outside world to understand. Different card-issuing banks have different standards. Therefore, the same materials may have different credit lines and different types of credit cards in different banks, and even some banks will pass the examination and some banks will refuse to issue them.
This concludes the introduction of credit card and finance and credit card finance knowledge. I wonder if you found the information you need from it?