How to borrow money with a credit card? You can borrow up to RMB 300,000

Many friends are not very clear about the use of credit cards and think they can only be used to swipe their cards for consumption. Little do they know that credit cards can also be used to borrow money, and in more than one way. However, the amount of money borrowed in different ways will be different. Let’s take a look below.

How to borrow money with a credit card?

There are generally three ways to borrow money with a credit card, including but not limited to cash advance, cash installment, and special installment. Here is a general introduction:

1. Cash advance:

It is the most popular method of borrowing money from credit cards by many people. It can be used to withdraw money from the credit card through ATM machines and counters without review.

However, this method is to borrow money within the credit card limit. The total amount that can be borrowed is 50% of the credit card limit. The important thing is that after borrowing the money, the principal and the fees and interest generated will be included in one period. The minimum repayment amount on a credit card bill must be paid in one go after the bill comes out, which will put a lot of repayment pressure on the cardholder.

2. Cash installment:

It is also a common method of borrowing money with a credit card. It is also handled within the credit card limit. The maximum application limit is 50 of the credit limit. Generally, it is available on the official credit card website. , mobile banking, and APP application, you need to pass the bank review. After review, the money will be transferred to the designated bank card. Once it arrives, you can withdraw cash or directly swipe the card for consumption.

Compared with cash advance, the repayment pressure of cash installment is relatively small, but it is interest-free but not free. You need to pay part of the handling fee and principal every month, and the rate is around 0.75.

3. Special installment:

Usually only high-quality bank credit card customers can enjoy it. The bank will grant a separate loan limit, with a maximum limit of 300,000 yuan, which does not account for the credit card limit. Common ones include CITIC New Express, China Merchants Bank e-Loans, and Pudong Development Bank. You can also apply directly on the bank’s WeChat official account.

You need to select a consumption purpose when applying, and the funds after application must be used for the designated purpose. The bank will ask for consumption vouchers at any time. If it cannot be provided, it is likely to be required to settle the remaining balance in advance. principal handling fee.

Ningbo Bank’s credit card limit of 300,000 cannot be withdrawn.

The reasons why Ningbo Bank’s credit card limit of 300,000 cannot be withdrawn:

1. Not enough cash advance . Typically, a credit card cash advance is 50% of the total credit limit. If the user has already withdrawn 50 of them, he cannot continue to withdraw cash. The balance remaining on the card can only be used for consumption. As a result, the credit card has a limit and cannot withdraw cash.

2. Exceeding the cash withdrawal limit. Whether it is a debit card or a credit card, there is a daily limit for withdrawing cash from ATM machines. Under normal circumstances, the daily cash withdrawal limit of a credit card shall not exceed 2,000 yuan. If the user exceeds the withdrawal limit, he will not be able to continue withdrawing cash.

3. There is a problem with the card itself. If the user withdraws cash from an ATM machine, the card itself is degaussed or is in an abnormal state, and the card cannot be withdrawn. In this case, users can use online banking to withdraw cash by credit card, which is also a very convenient way.

4. Machine reasons. When withdrawing cash from an ATM machine, if the cash inside the machine has been withdrawn, or the machine itself is malfunctioning. At this time, even if there is no problem with the credit card itself, cash withdrawal cannot be made. In this case, users can change to another machine to withdraw cash, which basically solves the problem.

How much interest will be paid per month if the credit card limit of China Construction Bank is overdrafted by RMB 300,000?

Interest is charged at 50,000 per day, and compound interest is charged monthly. 3000000.05=150 yuan/day. If you want to calculate 30 days in a month like this, the interest per day is 15030=4500 yuan. But generally few people have a credit card limit of 300,000. Even if they have this limit, if they continue to use it for daily consumption, the interest will be calculated one by one based on the actual number of days of use.

Because credit cards have interest-free periods, it is best to repay them in full within the repayment period, which is the most cost-effective. If you still can't pay it off, you should at least pay it back according to the minimum repayment amount on the bill so as not to affect your personal credit.

1. How to apply for an overdraft card?

1. To apply for an overdraft card, you must be over 18 years old and have stable repayment ability before you can apply.

2. The card holder applies for an overdraft card to the bank that needs to apply for the card with his or her valid ID card.

3. You need to fill in the application information form and provide your ID card.

4. Proof of work or income, proof of residence.

5. Submit as many asset certificates as possible to relevant staff, and it will be easier to successfully apply for an overdraft credit card.

6. The credit card center receives the information review and issues the card.

7. Mail the credit card to the applicant. After the applicant gets the card, he can open the card and enter the password to activate the card.

8. In addition, you can also choose to apply for an overdraft card on the bank app, Alipay/WeChat and other public accounts, the bank's official website, and third-party cooperation channels.

2. What should I do if my credit card exceeds the limit?

1. As long as the credit card consumption is successful, the overused credit card limit will be included in the current credit card bill, and the outstanding balance can be paid off before the repayment date.

2. Generally speaking, the credit card over limit is 20% of the fixed limit, but the over limit can only be used when the limit is insufficient when the user swipes the card for payment. Credit card cash advances, etc. do not support over limit.

3. If a credit card exceeds the limit, 5% of the amount exceeding the fixed limit will be charged as an over-limit handling fee. The amount used in excess of the fixed limit also enjoys an interest-free repayment period, but it must be paid off in one go.

3. Will there be any impact if you overuse your credit card?

Credit card over-limit refers to the accumulated credit limit used in one billing cycle exceeding the credit limit approved by the card issuer. Credit card holders will not enjoy the interest-free repayment period and minimum repayment amount after using the card beyond the limit. Overdraft interest shall be paid on the cash transaction amount or overdraft amount calculated at the prescribed interest rate from the bank accounting date.

How to apply for a large credit card of 300,000 yuan

There are two ways, online and at bank branches.

1. Handle online. Now all major banks have online banking. If you want to apply for a limit of 300,000, you can do it online. Open the bank's credit card center, fill in the content as required, fill in the required information, and provide favorable asset certification materials. 30 Ten thousand is not a small amount, and proof of assets is required when handling it.

2. Handle at bank branches. 300,000 is generally better to go to a bank branch, because the review process will be faster. Of course, this asset certificate must be prepared, and the application form must be filled out at the same time. The content above must be true and reliable.

Requirements for applying for large-limit credit cards:

1. Ensure personal creditworthiness. Applications for large-limit credit cards will have higher financial requirements and require applicants to provide income, unit position, etc. Detailed proof, of course, whether it is a large amount or a small amount, when applying for a credit card, you must ensure that there is no problem with your personal creditworthiness. If your personal creditworthiness is adversely affected, no matter what the amount, it is hopeless. Therefore, Before applying, you must make sure that there is no negative impact on your personal creditworthiness. Make sure that your creditworthiness is good before applying;

2. You must meet the application age. Generally, the age for credit card application is 18- Only 60 years old can apply for a credit card in this age group. When applying for a large-amount credit card, you pay more attention to your age. Appropriate age is the basis for application.

3. Fill in the information and be sure to fill in the phone number, so as to facilitate contact. If the personal credibility is guaranteed, the application will be easier to pass, so be sure to apply for this large amount. Ensure your personal assets and creditworthiness, and fill in the correct information at the same time. When planning repayment, you must also choose a range that you can afford, and repay within the specified date. Only in this way can you provide protection for large-amount credit card applications. .

4. Provide asset certificates. Large amounts are different from small amounts. Large amounts must have asset certificates, and they must be strong asset certificates. Only in this way can applications for large amounts be guaranteed.

5. Stable income. To apply for a credit card with a large limit, you must have a stable income, and it is basically difficult for people with low incomes to apply successfully. Generally, only senior executives of companies can apply for this large credit card. Limit, of course, applying for a large limit also depends on your income. Apply for a limit within a reasonable income, so as to ensure that later repayments are guaranteed

That’s it for the introduction to the credit card limit of 300,000.