Card loans charge membership fees.
Buy buy's card debt has not been paid off, and the double twelve is coming again. Xiaoxiao paid the bill by credit card compensation last month. However, many people are not as lucky as Mix. They may not use credit cards to compensate, and they may pay higher interest than banks.
Recently, Gao Liang revised the conviction and sentencing standards for malicious overdraft credit cards, and made it clear that "knowing that there is no repayment ability, a large amount of overdrafts cannot be returned" is for the purpose of illegal possession, which may constitute malicious overdraft. In fact, in reality, many cardholders spend blindly in the early stage, and only when the credit card bill comes out do they find themselves unable to repay it. At this time, "credit card payment" was regarded as a "lifeline" by these people.
At present, there are many platforms to provide credit card compensation services in the market, and there are two main modes: the platform compensation mode is to repay the bank's money by borrowing the compensation agency's money, and ultimately the cardholder still has to repay the compensation agency's money; The "cash loan" model is to pay back the current money with the amount of the current bill, and the cardholder still has to pay back the next money.
Experts believe that the credit card compensation business does meet the needs of some people and can alleviate the short-term liquidity pressure of cardholders. But the risks involved can not be ignored, such as possible credit card cashing, unclear rate, information leakage and so on.
The annualized interest rate of multiple compensation platforms is higher than that of banks.
"So I don't have to worry about credit cards. And the interest rate is only one month higher than that in 1998. It feels lower than the installment interest of credit cards. " Mix said.
The demand of people like Xiao gave birth to credit card compensation products. Credit card compensation simply means that the compensation agency pays off the credit card loan for the credit card holder in one lump sum, and the credit card holder repays the loan to the compensation platform in installments according to the new interest rate.
"Saving money" is just one of many credit card compensation platforms. Many internet finance companies have similar products, as well as products of consumer finance companies and commercial banks.
According to the loan data of Mix in "Deposit", the principal is 16770 yuan, divided into 12 installments, and each installment is repaid at 1496.09 yuan, and the annualized interest rate is 13.55%, which is lower than the overdraft interest rate of bank credit cards (12).
Borrow 20,000 yuan in installments on WeChat Jinke's "WeChat Card Loan" platform 12. The monthly repayment amount is 1976.67 yuan, and the calculated annualized interest rate is 38. 1 1%. Borrow "Xiaoying Card Loan" for 30,000 yuan, and repay it in 12 installments, each installment is 3002.2 yuan, and the annualized interest rate is as high as 4 1.50%.
If the loan amount is small and the number of installments is small, the interest rate will be higher. For example, if you borrow 4,600 yuan from the "card loan" in three installments, you need to repay 1648.33 yuan every month, and the calculated annualized interest rate is 54.74%.
Samoyed, the main operator of Bai Sheng, claims to be the only credit card billing installment service agency with an annualized interest rate lower than 18.25%. According to the data disclosed in its prospectus, the weighted average annualized interest rates of credit card bill installment business in 20 17 and the first half of 20 18 are 15. 1% and 15.5% respectively. In the first half of 20 18, the annualized interest rates of the two users with the highest risk levels were 2 1.50% and 24.00% respectively, both exceeding the bank's 18.25%.
The official annualized interest rates of several other listed credit card payment companies are all higher than 18.25%. Wechat Jinke prospectus shows that the average effective annual interest rate of its credit card balance compensation product in the first four months of 20 18 years is 34.4%. Xiaoying Technology's prospectus shows that its credit card compensation business has an annualized interest rate of 20 19.69%-25.44%, which is between 19.69%-49.44% in 20 17 and 9.98%-8 in the first half of 20 18. Win Technology admitted that before the new regulations of China consumer finance industry were issued in February 20 17, the annualized rate of some loans exceeded 36%, and some loan service fees were deducted from the loan principal in advance.
"beheading" reappears?
In addition, "card loan" also charges insurance premiums to some users. The customer service said that this is personal accident insurance, and there will be a prompt when lending money, and the insurance premium will be automatically matched by the system. Some users said that they were charged 299 yuan.
There are also some platforms suspected of "deliberately" making customers overdue. In the "Card Loan" Baidu Post Bar, many users reported that the balance in the bound savings card was sufficient, but the repayment date was not automatically deducted, and the user's voluntary repayment could not be successful. It has been displayed as a pop-up page of "UnionPay transaction result processing", which eventually leads to overdue.
If overdue loans on the platform are compensated, there will be penalty interest. According to the "card-to-card loan" clause, the borrower needs to pay extra overdue penalty interest, the total amount of penalty interest = the total amount of overdue principal and interest, and the corresponding penalty interest rate is the number of days overdue; The penalty interest rate is one thousandth/day; The number of overdue days is calculated from the day after the repayment date. This penalty interest rate is higher than the bank's daily 0.5%.
In addition, on the repayment date of each month, if the deduction fails due to the insufficient balance of the borrower's account, the borrower shall pay 0.5% of the loan amount as the penalty for the deduction failure. Less than 50 yuan, the lowest 50 yuan, the highest 200 yuan. This means that those who use the compensation platform in order to avoid overdue charges of credit cards will face the risk of compensation platform loans overdue.
In the post bars of other platforms, some users have also reflected similar "overdue" situations.
The "cash loan" model such as Bebeka housekeeper may be suspected of illegal cashing.
Mainstream platforms such as "saving money", "card loan" and "small win card loan" adopt the platform compensation mode, while other platforms adopt the "cash loan" mode.
In this process, "Beibei Card Butler" charged a handling fee of 0.75%, and the customer service indicated that it would be deducted when the withdrawal was returned to the user's credit card. "The repayment fund is your own credit card limit next month. The fund will not make any stop on our platform. We just deduct the handling fee after cashing in, 75 yuan. ".
In addition to BebeCard Butler, there are several platforms that adopt similar "cash loan" mode, such as Zhihu people, snail smart butler, willful smart butler and paid credit card butler. The selling points of publicity are "low repayment" and "smart card maintenance".
Xiao Sa, a partner of p> Beijing Dacheng Law Firm and director of the Bank of China Law Research Association, said that the business nature of credit card compensation is not clear. Once the cardholder is found cashing in his credit card, measures may be taken to reduce the credit line, stop payment, and enter relevant information into the credit information system and the established fraud information database between banks.
"robbing Peter to pay Paul" can not be ignored in compensating commercial risks.
For credit card holders, the compensation business is actually "robbing Peter to pay Paul": the platform compensation model is to borrow money from the compensation agency to pay back the bank's money, and ultimately the cardholder still has to pay back the compensation agency's money; The "cash loan" model is to pay back the money in the current period with the amount of the first bill, and the cardholder still has to pay back the money in the next period.
However, Xue Hongyan reminded that the development of the balance compensation market makes it easy for all parties to ignore the risks of credit card products. On the one hand, banks may make mistakes in decision-making, blindly pursue the growth of card issuance, and constantly sink the credit card customer base. On the other hand, credit card holders can easily rely on loans to repay their loans. In the long run, it is easy to accumulate risks in the market.
Xiao Sa, a partner of Beijing Dacheng Law Firm and director of the Bank of China Law Research Association, said that the existence of compensation business would interfere with the risk control of banks. After credit card holders pay off their credit cards with compensation, it is difficult for banks to judge whether these cardholders have the real repayment ability, which leads to the bank's inability to correctly portray customers and has a certain negative impact on the bank's future risk control.
This has a similar impact on regulators, especially in credit reporting. Xiaosa pointed out that once the cardholder is unable to repay the credit card, he has to check the credit record. Now there is a compensation agency to help him repay the loan, so there is no need to go to the credit record. This has a negative impact on the entire credit information system, and regulators cannot grasp the real credit situation of these people. At the same time, "compensation" is unfair to a wider range of financial consumers, because the real credit and repayment data may not be disclosed in financial institutions, but transferred to private lending institutions that are difficult to supervise. It is difficult to distinguish between people with "good credit" and people with "poor credit". Everyone enjoys the same level of financial services, which will harm the interests of people with real good credit.
At present, there is no clear regulation on the supervision of credit card compensation business by the regulatory authorities. Some people think that this business belongs to private lending, as long as the lender meets the regulatory requirements of private lending. Xiaosa believes that compensation business belongs to financial business and cannot be simply equated with private lending. China's "General Principles of Civil Law" and "Contract Law" allow private lending, but set the upper limits of 24% and 36%. However, as a financial institution, compensation institutions are engaged in professional lending behavior, which is different from the occasional lending behavior of the people and may lead to different financial risks. Therefore, it is necessary for regulators to manage such industries.
Xue Hongyan believes that with the improvement of big data risk control capability of bank card issuers, it is a trend for credit card withdrawal and billing installment products to sink, which will continuously reduce the business space of credit card compensation platform. Credit card balance compensation products, if their scale and market influence can be reasonably controlled, can alleviate the short-term liquidity pressure of cardholders and effectively reduce the bad risks in the credit card market, which can be regarded as a small and beautiful phased product; If the penetration rate is too strong and the scale is too large, it will be counterproductive and will aggravate the risk of the entire credit card market.
There is also the risk of revealing personal information by using the payment platform. In the operation of the platform, most customers need to complete authentication and credit card binding processes. For example, in "Bebe Card Manager", users need to provide information such as ID number, mobile phone number and savings card number during the authentication process; To bind a credit card, you need to provide information such as card number, bank, CVV code and expiration date. Among them, CVV code is called the "second password" of credit card. In the off-line transaction of credit card, you only need to provide the card number and CVV code to complete the payment, without swiping the card and checking the password. Once leaked, it is likely to lead to the theft of credit cards.
Then, how should ordinary users use credit cards for business compensation?
Xiaosa said that paying off the credit card debt by compensation in a short time may reduce the legal risk of the cardholder, because owing money to the bank may constitute the crime of credit card fraud, which is a criminal responsibility; Compensation shifts the debt relationship into money owed to lending institutions, which is more of a civil liability. However, the public should also pay attention to other risks in the use of compensation services, including whether it constitutes credit card cashing. In addition, the interest rate calculation rules of compensation platforms are unclear, and not all compensation platforms save money. The compensation platform for market-oriented operation is mysterious in the rules of interest rate calculation. In fact, the actual interest rate of the compensation platform is not much more affordable than the bank's installment.
Xiao Sa suggested that credit card holders should live within their means and carefully choose the credit card compensation service platform. It is best to choose the installment repayment business of the bank to extend the repayment period and reduce the repayment pressure. When necessary, on the basis of clear cash-out risks, choose a platform with better qualifications to ensure the safety of personal information and clear rules for calculating interest rates.
Xue Hongyan also said: "After all, income is the fundamental factor that determines the borrower's repayment ability, and compensation products can only save for a while."
Related Q&A: How long does it take to review the credit information of credit card loans? Generally speaking, the credit review time of credit card loans will not be too long, it only takes about five minutes. The review link of credit report of credit card loan is automatically verified by the system. The whole review of card loans is very fast. They have an intelligent loan review system, and users can complete the credit extension within 1 minute, and the fastest loan is 15 minutes.
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The credit review time of credit card loans will not be long, generally it only takes about five minutes. Because it is automatically audited by the system, as long as you submit a credit report.
The steps to review credit records are:
1, log in to the personal credit account of the branch;
2. Answer 5 questions related to my credit record/bank card verification;
3. The Credit Information Center of the People's Bank of China will review the answers to the above five questions or the bank card information, and send the inquiry verification code to the customer's mobile phone after passing the review (at the latest 24 hours);
4. Enter the query verification code to query the personal credit report.