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Many banks push large credit cards, and the amount of cash withdrawal is up to 500,000.
Editor: Youth DailySource: Youth DailyDate: 2013-05-27


According to the "Youth Daily" report, recently, the reporter was attracted by an unsecured loan advertisement of Hua Xia Bank, which called "no guarantee, no mortgage, no interest, only 7.5 per thousand of monthly fee.
                According to the "Youth Daily" report, recently, the reporter was attracted by an unsecured loan advertisement of Hua Xia Bank, which called "unsecured, unsecured, no interest, only 7.5 thousandth of the monthly handling fee. Fees, the maximum amount of money up to 500,000 yuan, can be learned after consultation, this is actually a credit card. The reporter consulted most banks and found that personal credit loans are already difficult to handle, and they are replaced by such large credit cards. "The method of cash is used to bind the debit card. It can only be cashed out, not for consumption. The monthly installment fee is 0.75%. No mortgage guarantee is required, as long as the personal ID card, work certificate and income certificate are provided. Can apply."

The monthly fees for these large credit cards seem to be very attractive, but a credit card industry insider revealed that the actual cost is actually very high. The person calculated an account. If the loan is 10,000 yuan, it will be returned in 12 installments, and the handling fee is 0.85%. The principal to be returned every month is 833.3 yuan, the monthly handling fee is 85 yuan, and the 10,000 yuan reimbursement fee is 1020 yuan. The actual occupied funds per month are decremented month by month, and the average occupied capital is calculated to be 5,416.65 yuan according to the mean value of the arithmetic series, so the calculated annual interest rate is 18.83%. “The monthly handling fee is equal to the total amount of the principal of the installment multiplied by the monthly rate. The later the loan balance is less, the reimbursement is the same. The interest rate is much higher than the average personal credit loan.”

The reporter compared Huaxia Bank's E-Gold credit card with other ordinary credit cards of the bank and found that the installment fee for ordinary credit cards is between 0.62% and 0.67%.

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