Many card friends' credit cards are charged for no reason, but they don't know why. In fact, this is caused by the basic common sense that everyone does not understand credit cards. This article introduces 7 very easy to use a few common sense, so that everyone can bring order out of chaos.
Myth 1: No activation, no annual fee
Credit card opening cards and offers issued by banks, together with the promotion of non-activation of annual fees, attract many consumers to do cards. If the credit card is not activated, there is no annual fee? In fact, some special card types and custom card types are charged a rigid annual fee when they are not activated. When the card friend is notified to pay the fee, it is found that there are several hundred yuan overdue fees. Therefore, cardholders should understand the annual fee rules before they can do the card.
Myth 2: The more you consume, the more points you have.
The more you consume, the more points you have. It is not that every credit card credit card can earn points, and the credit card credit rules of different banks are different. Credit card purchases, car purchases, hospital payments, school fees, etc. are not part of the credit card points. In addition, many credit card network consumption does not count points.
Myth 3: Credit card as debit card
The credit card overdraft function can only be realized through consumption. If it is overdraft cash, not only the handling fee, but also the interest paid from the day of overdraft, 0.05% per day. It is recommended that you do not use cash credits to withdraw cash. If you need cash urgently, you should repay the loan as soon as possible after the cash withdrawal, because there is no interest-free period for overdraft withdrawal. There are card friends who save some money to the credit card when they repay, but this part needs to pay a certain fee before they are taken out. It is not advisable to use a credit card as a debit card.
Myth 4: Instalment payment, no interest, no charge
I often receive bank text messages, saying that credit cards can be interest-free in installments. Some of the card friends believed that the credit card bills were insured, but only the credit card bills found that there was a fee for the installment. Credit card installment payment, interest-free fees are not allowed, although the interest is exempted, but the fee is charged.
Myth 5: Repayment in advance, free of charge
Credit card installment repayment, there are two ways to collect the fee: one-time payment, that is, the consumer needs to pay the first-time bill amount and the installment fee in one lump sum; the monthly payment, that is, the handling fee is paid with the monthly installment payment. . Many banks charge a one-time fee, even if they pay back later. In the case of instalments, the advance repayment shall be paid in one lump sum for the remaining period.
Myth 6: Overdue penalty interest, it’s okay to pay late
The credit card is not paid off, and the interest calculation is divided into two parts: one part is the daily interest income from the consumption date (or the second day) to the day before the actual repayment date (or the day); the other part is the outstanding amount. Interest. If you do not repay in time, the daily interest is 0.05% of the sum of the principal plus the previous day's interest. Credit card interest is subject to daily interest and monthly compound interest. Interest is like snowballing. The later the repayment, the higher the penalty interest rate.
Myth 7: Third parties can increase the amount
High-value credit cards not only facilitate large-volume consumption, but also represent individuals with good credit records. Therefore, many card friends want to raise the amount. The criminals used the eagerness of the big consumers to raise their minds and lie on the Internet to help raise credit card quotas and wait for opportunities to defraud personal information and money. Credit card withdrawals, each bank has a strict credit system, and must not be convinced that third parties can help increase credit card quota.
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