1. Loan limit In terms of loan limit, credit cards are lower than small loans, generally ranging from a few thousand to tens of thousands of yuan, while the maximum loan limit for small loans can be up to 200,000 yuan.
2. Loan term The maximum installment period of a credit card is two years, while the maximum term of a bank small loan is three years.
3. The expected annual interest rate of the loan. Credit card holders can enjoy interest-free benefits for a certain period of time after swiping the card (the interest-free period can be up to 56 days), but the bank for credit card cash withdrawals will calculate interest on a daily basis. (Daily interest rate is 5%), and a certain amount of cash withdrawal fees will be charged. After the borrower successfully obtains a small loan, the bank will immediately start calculating interest, and the expected annualized interest rate will generally rise above the loan's benchmark expected annualized interest rate. What I want to tell you is that whether you apply for a credit card or a small loan, you need to pay interest. Generally speaking, the low expected annual interest rate is around 2, while the high expected annual interest rate can reach 2. Of course, what we are talking about here is a credit loan with a wide audience. If you have no collateral and have good credit, you can also get a loan. Applying for a bank loan is too cumbersome and complicated, so it’s faster to apply for a credit card. However, credit cards also determine the installment amount of the applicant based on the user's credit situation, so in the final analysis, one still has to have good credit.
For example: CITIC’s New Express and Dream Gold; Pudong Development Bank’s Universal Gold and Dream Loan; Guangfa’s Caizhi Gold and Youmi; Ping An’s reserve fund; Huaxia’s Yida Gold; and Good Transportation Expectations, angel loans; these credit installment loans from banks basically require the backing of a credit card. For small online credit loans, the loan interest collection method under the large platforms is basically charged on a daily basis, usually on a daily basis. Such platforms include: Alipay’s Jiebei; Tencent’s Weilidai; Wanda’s Wandadai; 360’s IOU; JD’s gold bars, etc. Whether these third-party platforms have quotas, there are many kinds of tutorials, here is a summary, it depends on your support for the platform, especially Weilidai and Jiebai.
Note: From the comparison between the two mentioned above, the interest on bank installment loans is charged based on the total amount. That is, no matter how many installments you repay, the interest is still charged based on the total amount. This is what bank loans look like. The monthly rate is okay, but the annualized rate is high. This is the most annoying thing. The large third-party platforms calculate it on a daily basis. After you repay the part, interest will only be calculated on the remaining part, and the subsequent interest will not be charged in advance. The key is that it can be used repeatedly. From this point of view, the platform loans of these big guys are still very easy to use. In addition to the small online loans on these platforms, there are also loan products from many small loan companies, which can provide users with small loan services.
For example: Jiakadai, mobile loan, cash bus, Home Credit Lucky Bag, Weixin Quick Loan, Xiaohua Wallet, etc. Although these online loan platforms do not have the backend support of Jiebei and Huabei, they have won the favor of many borrowers with their high-quality services and professional features.