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2017 credit card new regulations

Time: 2016-11-23         Source: Rong 360 finishing         Author: 360 Financial consolidation

1. Look at the overdraft interest rate:credit cardThe overdraft interest rate is capped at the upper and lower limits. The overdraft interest rate is capped at five-quarters of the daily interest rate, and the lower limit of the overdraft interest rate is 0.7 times the daily interest rate of five tenths of a million. This means that the overdraft interest rate is 3.5% of the minimum, and the card friends will do the card later. Remember to compare the credit card daily overdraft rate and choose the bank with the lowest overdraft interest rate.

2. Look at the interest-free period: The new regulations cancel the maximum period of interest-free repayment period, which is determined by the card issuer. The interest-free period of different banks was originally different. After that, it was completely decided by the card issuer itself. The length of the interest-free period is also an important reference indicator for Shenka.

3. Look at the “liquidated damages”: the cancellation of the late payment fee introduces “liquidated damages”. For the cardholder’s breach of contract and overdue payment, the card issuer should agree with the cardholder whether to collect liquidated damages and related collection methods and standards. Before the card is processed, the card friend must compare the proportion of the bank's “liquidated damages” and choose the most cost-effective and economical bank.

4, look at cash advance: credit card pre-borrowing cash business includes cash withdrawal, cash transfer and cash recharge, card friends must know the cash withdrawal amount, cash transfer amount and handling fee standard before the card, more importantly: Knowing whether the bank allows credit cards to be used to recharge WeChat and Alipay is absolutely 100% positive for card friends, allowing cardholders to use more overdrafts.

5. See the minimum repayment amount: The new regulation cancels the minimum repayment amount in the first month shall not be lower than 10% of the current month's overdraft balance, and the minimum repayment amount shall be determined by the card issuer. For card friends who are not well-funded and have poor repayment ability, the credit card with the lowest minimum repayment amount is undoubtedly the best choice.

6. See the method of compensation for stolen brush: The new regulations encourage card issuers to make reasonable compensation for the loss of cardholders through commercial insurance cooperation and accrual of risk compensation funds. Therefore, before the card friend can do the card, it is very important to compare the credit card theft compensation method of each bank. After all, the credit card theft is often happening, and most of them are the cardholders themselves.

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