Loans to pay off credit cards is the best way

Can consumer loans be used to pay back credit cards

Personal consumer loans in principle can not be used to pay back credit cards, consumer loan credits can generally only be used for daily consumption, such as travel, shopping, renovation, education, weddings, etc., the bank will also be the use of the loan amount of tracking, monitoring, once found that the amount of money used for non-consumption areas, then , it is likely to be winded up and suspected of default.

Many people take a chance to use their personal consumption loans to pay off credit cards, and end up being wind-charged by the bank, affecting their personal credit, which is very uneconomical.

The difference between a consumer loan and a credit card:

Many people think that a credit card is simply a consumer tool, in fact, strictly speaking, it is also a consumer loan, but it is a little different compared to traditional consumer loans.

First, the loan amount is different. Although a credit card is also a type of consumer loan, its credit limit is usually between a few thousand and tens of thousands of dollars, while the traditional consumer loan limit is as high as millions of dollars. Therefore, if you have a large amount of money spending needs, it is best to choose traditional consumer loans.

Secondly, the loan period is different. After the credit card consumption, the borrower can apply for installment, but the installment period is usually only up to three years, while the traditional consumer loan period can be up to five years.

Again, the scope of application is different. When applying for a consumer loan, the borrower must provide a true and reliable proof of use, which means that the loan needs to be earmarked for a specific purpose, while the credit card has a wider scope of application and does not need to provide any proof of use.

Finally, the cost is different. Credit cards have a certain interest-free period, up to 56 days, that is to say, as long as you pay in full and on time within the specified time, the issuer will not charge interest; but the traditional consumer loans do not have an interest-free period, as long as the borrower succeeded in obtaining a loan, it will have to pay interest.

In addition, the application process is different. Consumer loan application process is more complex, and the bank approval is more stringent, slower release; however, the application of credit cards is easier, as long as you can provide a stable job and proof of income, proof of identity, you can easily be approved, and the approval time is shorter.

Is it appropriate to pay off a credit card with a loan? Don't ever do this!

Now the loan industry is developing very fast, countless loan products will emerge every day, loans and credit cards have become two credit products indispensable to people's daily life. Some users would like to know if it is appropriate to use loans to pay off credit cards? Because every month there are card debts to be paid, using loans to repay the outstanding amount can reduce a lot of pressure.

From the point of view, any bank will not stipulate the purpose of the loan, the requirements of the loan can only be used for consumption, business, etc., can not be used for the account of illegal, improper use in violation of regulatory provisions or do not cooperate with the bank to investigate the use of the loan, it is easy to be directly frozen quota, the name of the outstanding amount of money it is possible to settle all at once.

1, loan to loan

With a loan to pay off credit cards, with a loan to pay off loans of the same nature, this hemlock to quench the thirst of the way is not desirable, will only make the debt rolls bigger and bigger, and finally to the point of unmanageable.

2, was found by the bank

If your method is very simple, there is a possibility that the bank will be found, such as the amount of the loan and credit card arrears is almost the same, from the credit can be found, then the bank may immediately cancel the line of credit, the name of the arrears of the money have to be settled in advance, including the fees and interest, so that the borrower will be under a lot of pressure.

3, repayment pressure

Some people are accustomed to using loans or credit cards to solve financial problems, it is possible to the extent that the loan is not available, because the loan is not so flexible, if the financial chain is broken, it may result in debt, the consequences of which can not be cleaned up.

4, credit becomes black

Banks have high requirements for the integrity of users, and if they are found to be such arrival behavior, they may be directly pulled into the blacklist, and it is very difficult to deal with credit business in the future.

Can CCB Quick Loan pay off credit cards? Read it and you'll be clear

There are many people who have fallen into the predicament of lack of money, but there are card debts to be repaid, and I heard that some banks have credit loans, the threshold is relatively low, so I want to go to the loan to pay off the credit card. So, is it possible to pay off credit cards with a bank credit loan? Here is an example of CCB Express Loan.

Can CCB Express Loans pay off credit cards?

1, look at the operation

Bank credit loans are divided into two kinds, one is a consumer credit loan, one is a cash loan, the former after the application, although it is released to the bank card, but can only use the bank card in the designated merchant's POS machine card spending, but can not withdraw cash; the latter is released to the bank card, and when the money arrives, it can be withdrawn cash, you can also make a transfer.

Like CCB fast loan belongs to the former, as a consumer credit loan, can not withdraw cash or transfer after the success. And we all know that credit card repayment, is required to transfer from the bank card to the credit card repayment, or to take out the money from the bank card to deposit to the credit card account.

So, from the operational point of view, it is obvious that CCB Express Loan cannot be used for credit card repayment. Of course, some people may say that you can find a way to get the money out of the card, but there is a certain risk of doing so, once monitored by the bank, may require a one-time full repayment, for the repayment ability of the weak cardholders, no doubt it is worse.

2, look at the use

Banks of this kind of personal consumption loans, have stipulated the relevant purpose, such as to be applied to meet the borrower's legal, compliance, reasonable consumption of funds needs, and can not be used for securities, futures, equity investment in national laws and financial regulations expressly prohibited the project.

As for whether you can use the fast loan to pay back the credit card is not clearly stated, but this is a kind of loan to pay back the card behavior, the bank should not support.

Can I repay my credit card with a loan? Is it against the rules?

No, it's not illegal to take out a loan. The amount is at your disposal and you need to pay it back in time. But the amount can not be too high, this is also to distinguish, if the amount owed a large amount of money if the bank will take into account this belongs to the indebtedness of the situation, so there is the possibility of refusing to lend, but if the normal in the case is not a problem, for example, if my credit card debt of 5000, but want to loan 100000 this is not affected by the normal in the case is not a problem.

Operating environment: vivox27, Andord5.1, cloud flash payment APP version model 3.0.827

Credit card skills, learn to read the bill

Open your credit card bill, which details your monthly spending. If you can't read these details properly, it's hard to get a clear idea of what you're paying back. There will be a lot of monikers on your credit card statement, such as cash advance limit, credit limit, current billing date and so on. The most important things you need to know are the current final payment date and the minimum payment amount. The current final payment date is the deadline set by the bank, after which any further payment will be considered as default. The minimum payment is the amount of money you have to pay back, which is usually about 5-10% of the total amount you spend.

Credit card skills two, use the interest-free period

Interest-free period, is when your credit card overdraft, how long you can not give the bank interest. It is divided into two categories: the longest and the shortest. Each bank's interest-free period is different, like the credit card launched by China Merchants Bank, according to the Internet, the longest interest-free period can be more than 50 days. Usually swipe your card on the last day of the billing date so that you will enjoy a longer interest-free day.

Credit card skills, learn to reasonable repayment

After understanding the above two skills, you also need to know how to reasonable repayment. Here are two recommended ways to pay off your credit card. If you have plenty of money, you can repay the full amount on the last repayment day, which is the first way. If you can't get so much money for the time being, you can use the second way, which is to pay the minimum repayment on the final repayment date. It is recommended that you should pay the full amount if you can afford it, and if you cannot pay the full amount, you should also pay the minimum amount on the final repayment date. This is to protect your personal credit from being affected. There is also a point to note that there are cash withdrawals in the current period, and when you repay the loan, you have to pay a little more to offset the interest.

Going to the bank to take out a loan to pay off your credit card will the bank lend

No.

Using a bank loan for credit card repayment can't be illegal, but it's certainly out of line.

Bank loans, in the process of issuance and approval of the process, the use of the loan has clear requirements, and in the process of applying for the application of the reasons for the actual use of the direction of the application should be able to correspond to, and can not use the loan to pay back the credit card, the bank is generally the provisions of this.