Many of my friends may have this situation: when the credit card is still tight, sometimes can not get so much liquidity repayment, only the minimum repayment or installment, pay interest to the bank is very painful.
So a new choice to run out, there are platforms to do such a business, to help you on behalf of the credit card, it is said lower and more flexible interest rates. Today, let's talk about whether credit card repayments should be made on such platforms or not.
Credit card cost-effective it?
1. What is "Credit Card Retirement"?
Some credit cards on the market The so-called "pay off" platform, the main use of the "balance of compensation" approach, in simple terms, is the loan card debt.
We brush the credit card, which is equivalent to borrowing money from the bank first, then repay the money back to the bank:
And if you choose to pay, the platform will help you to return the money to the bank to restore credit, but at the same time you will owe this platform a small loan.
You can choose to install the money back to the platform, you have become such a relationship:
To attract you, many platforms claim that interest rates are lower than the bank's minimum interest or installment fees, and offer more flexible staging options.
2. "Balance compensation" interest rates really have a great advantage?
We try to compare a product and a credit card:
The platform claims an interest rate advantage. If it is used for repayments, it will be repayable in 6 installments. The annualized interest rate is 11.03%. Compared with the interest rate of 18.25% on the minimum repayment of credit card, this platform does have some advantages .
However, to 20,000 arrears, for example, in this platform points 6 months repayment, 6 repayments of 3440.59 yuan per issue;
And a credit card of China Merchants Bank, the same by 6 months installments, the repayment amount of 3483.33 yuan per issue, in fact, not very different.
3. Different platforms, the interest rate difference is very large
However, it should be noted that if you have such needs, do not blindly believe that advertising low rates, you can try to calculate their own comparison of the actual situation.
Because the difference between the interest rates of the platforms is sometimes very large, we may even find that some of the real interest rates of the platforms are higher than the interest rates of credit cards. If we really need, we can conduct their own checks.
In the same amount and period of cases, you can try separately in the platform and credit card staging interface for comparison; if the credit card App or website does not provide staging trial service, you can also search the online credit card staging calculator, enter Related information can be calculated.
There are also platforms that do not disclose specific interest rates, but are said to discount premium users, but the process and standards are not disclosed, so it is hard to say how many people will have this treatment. If you want to get a very low interest rate, It is likely to be disappointed.
Pay more attention to personal information than interest rates
In screening such platforms, we must pay attention to the platform through which channels to check your credit situation.
Credit card "balance compensation" is actually a small loan business, so we will find that in providing services to everyone, these platforms will also need some information to ensure that you have the appropriate repayment ability.
For example, some platforms will need your CPF or social security information, or through other channels, multiple queries your credit history.
If you recently have large loan needs such as mortgages, you should pay attention to whether the platform will be queried for credit reporting. If the credit report too much short-term query records, the bank may think you are short of money, affecting the approval.
In addition, if in the process of these two cases, it is strongly recommended not to use this platform, the risk of our information and property security too:
1. Request credit card CVV code + SMS verification code
Some illegal platform, may ask you more information, then send you a message asking for a verification code, trying to master your card directly.
Do not give your credit card CVV code, usually your credit card signature bar at the end of the three / four digits; card number + CVV code + SMS verification code, in some channels you can steal your card.
2. "cash" repayment
If you are not using the "balance of compensation" approach, but to introduce "cash" approach to help you solve the problem, which should pay special attention.
Some companies use cash to pay off debts for the first time. After the quota is restored, the company suffers some expenses by cashing out the corresponding amount of cash on the cards by means of fake consumption such as brush POS machines.
Such kind of act of withdrawing cash through normal lawful formalities and cashing the credit card of the card in cash by other means without paying the cash withdrawal fee of the bank is called "cashing out."
Some people will use such a method to delay or even raise a B card with A card. It feels that money can be dragged backwards for a long time. Actually, this is an illegal act.
This method is often achieved through the POS machine, it is easy to be identified by the bank, derated, disabled cards, and even be held liable for legal liability. So do not use the cash method to solve the problem.
In the end we can not use the generation platform?
If you have to repay the money on hand and a bit tight, do you want to choose the alternative?
1. Pay attention to your own debt ratio
First of all, the Kidman said that no matter what form of staging is a double-edged sword, while bringing convenience, too many people are trapped in the heavy debt.
Therefore, the best partners to ensure that their monthly repayments of loans do not exceed 50% of income, so as not to have a major impact on their lives.
Solve the problem through safer channels
To the current interest rates on the market point of view, and no particularly big advantage, do not suggest that you in unnecessary cases, increase their identification platform trouble, but also always worried about whether it will be a problem.
Many banks now also offer microfinance services at lower interest rates. If they realize that there will be a large, short-term and difficult-to-pay large-sum spending before they swipe a credit card, they can consider small loans from banks.
3. Choose a compensatory platform to be cautious
If you really very urgent situation, you can also consider the use of credit card balance compensation, in the selection process, but also consider a lot of factors.
In addition to the lending rates and interest rates that we are all very concerned about, due to the current regulation is not yet very strict on this piece, we must pay attention to the organization's creditability, and more inquiries related to the company's business information, such as business information, shareholder information, executives Whether there is a risk control background.
Second, pay attention to protect their own information security, regular check your credit information.
Finally, we must remember to repay in time. Although this behavior is called "use tomorrow's money for tomorrow's money", but the money is still our debt, we also need to repay. If the repayment is not due, there will be a corresponding overdue fee, or even affect the credit records, it would outweigh the benefits.
【Exclusive articles and disclaimer】 All the works and any media and individuals annotated "Rong 360" are reproduced in full or in part, please indicate the source (Rong 360 loan78.com). Information contained in the article materials and conclusions only provide users for reference, does not constitute investment advice.