The original intention of the bank to launch a credit card is to hope that everyone can use credit cards to consume. However, now credit cards not only do not bring benefits to users, but instead make many people fall into the pit. How to avoid falling into the pit? Here are some suggestions.
1. Reasonable number of credit cards held
Many netizens have unreasonable credit card overdrafts. The confidence is that they have multiple credit cards, and they can swipe another one after they swipe this card; if they have no money to pay it back, they can pay it back by swiping B and C cards. This is like a dose of chronic poison, which makes everyone suffer from severe credit card dependence without realizing it.
So if you want to relieve the pressure on credit cards from the source, you must reasonably control the number of credit cards.
For ordinary wage earners, I think it’s almost the same to have two credit cards. You can keep those credit cards with relatively large discounts and large credit limits, and then cancel some unnecessary credit cards. The two cards can handle daily consumption.
For friends who do business, if you need more capital turnover, you can leave 3 to 5 credit cards, but I suggest it is best not to exceed 5.
A reasonable number of credit cards can not only curb everyone's impulse to consume and withdraw cash, but also a smaller number of credit cards can also facilitate everyone's management so that there will be no confusing accounts.
2. Find out the charging standards for bank credit cards
Now many people have applied for credit cards, and they don’t know the consumption standards of credit cards at all. They think that credit cards are for everyone to use for free, but in fact they are not.
Credit card has various charges. Only by clarifying the charging standards for credit cards can you face them calmly. The current credit card items that may be charged are as follows.
(1) penalty interest.
Every bank has its own penalty interest. The standard for penalty interest is to charge a daily interest of 5/10,000 according to the unpaid amount. If everyone often repays the loan at the minimum amount, a large penalty interest will be generated.
(2) Cash installment fee.
Now major banks actively recommend everyone to use cash installment business, and major banks claim to be interest-free installments, but the real situation is not to repay you in installments for free, but there are certain handling fees. As for the handling fees, different banks currently have different regulations. Most banks have between 0.6% and 0.9% for each period.
(3) Cash withdrawal fee.
Some credit card novices don’t understand the cash withdrawal rules of credit cards when they first get a credit card. They have no money, and then they take the credit card to withdraw money from the ATM. The fees incurred by this cash withdrawal are relatively high. On the one hand, there will be a 1% cash withdrawal fee on the day of cash withdrawal. In addition, from the day of cash withdrawal, they cannot enjoy the interest-free period , but charge at a daily interest rate of 5/10,000.
(4) Overdue liquidated damages.
In the past, there was a late payment fee for credit cards, but it was cancelled a few years ago. However, currently, credit cards still have liquidated damages, and liquidated damages are generally charged at 5% of the minimum repayment amount.
For example, the repayment amount of a certain bill monthly is 20,000 yuan, and the minimum repayment amount is 2,000 yuan, but everyone only pays back 1,000 yuan and then the liquidated damages generated will reach 50 yuan.
(5) card swiping fee.
If you repay normally, you will not involve the card swiping fee. The card swiping fee is generally paid by the merchant to the collection agency.
But in reality, many credit card users will apply for some POS machines to swipe and withdraw cash by themselves. At this time, everyone needs to clarify the charging standards for card swipe processing fees. The charging standards for different POS machines are different. Under normal circumstances, the card swipe processing fees are generally between 0.3% and 0.65%.
(6) Annual credit card fee.
Under normal circumstances, major banks will have annual fees. As for the annual fee, it depends on the credit card level, which generally ranges from dozens of yuan to several thousand yuan. The annual fee for ordinary credit cards here is about 100 yuan to 300 yuan, while some diamond cards may have annual fees of more than two or three thousand yuan.
If you want to waive these annual fees, you must meet certain conditions before you can waive them, such as how many times you spend more than one year, or how much you spend more than one year, you can waive them.
If you have not swiped your card after applying for a credit card, or if the card does not meet the bank's conditions, an annual fee may be incurred.
(7) Other fees.
The other fees mentioned here generally include credit card payment fees, SMS notification service fees, expedited fees, etc. Most users rarely contact these fees. The above fees are the most common fees in the credit card use process, so everyone must understand the logic and standards of the charges so that they can avoid falling into the pit.
3. Choose the appropriate credit card repayment plan
Although credit cards have an interest-free period of about 50 days, once the final repayment date has arrived, everyone must repay on time. If they do not repay, a penalty interest will be generated.
As for how to choose a repayment plan, repaying the loan in full before the last deadline for credit card repayment comes, this is the best way.
However, for many card , most people cannot repay the full amount before the repayment day. At this time, many people will have various repayment plans, and the fees and pressures generated by different repayment plans are different.
The first repayment plan is to repay at the minimum amount.
repays the minimum amount. The biggest advantage is that it can prevent overdue credit cards from affecting credit.
However, if you choose the minimum amount to repay, the unpaid part will generate a high penalty interest, that is, the daily interest rate is charged 5/10,000.
For example, the monthly repayment amount for a certain bill is 20,000 yuan, but everyone only pays back 2,000 yuan, and the remaining 18,000 yuan will be charged a penalty interest from the day of consumption. If you spend on the second day of the repayment date, the penalty interest generated may reach more than 450 yuan, which is very high.
and this penalty interest will be included in the bank's next bill. If everyone still repays the next bill at the minimum amount, a profit will be generated.
So under normal circumstances, even if you are unable to repay, it is not recommended that you repay at the lowest amount. This is the worst way to repay.
The second solution is to repay the loan in installments.
Installment repayment includes cash installments and bill installments. Generally, after the monthly bill comes out, the amount of money the major banks meets the bill installments can be displayed.
Although the bill installment fee is not low, compared with the minimum repayment, the bill installment repayment has an advantage, which is that it does not have to bear high penalty interest.
However, bill installment also has a disadvantage, that is, once you choose a period, you will not be able to repay in advance. If you repay in advance, most banks will also charge a handling fee for the remaining period.
For example, the monthly bill amount is 10,000 yuan, and everyone chooses to repay the loan in 6 months. The handling fee for each period is 0.75%, and the total 6 months installation fee is 450 yuan.
If you want to repay the loan in advance after the third month, I’m sorry, you still have to hand over the remaining 225 yuan handling fee to the bank.
So whether to choose to repay the bill installment is necessary? Everyone must choose according to their actual situation. If you are not able to repay the full amount for a long time in the future, it is recommended that you choose the bill installment, which can reduce the repayment pressure.
But if you just don’t have the ability to repay the loan in the short term and can repay the loan in full in the future, it is recommended that you borrow money from relatives and friends and return it, or achieve the purpose of repayment by using a card to repay the loan.
Solution 3: Return with card.
Nowadays, many people have very large credit card overdraft balances. They have multiple credit cards, so many people achieve the purpose of continuing their debts by repaying cards through card payment. The repayment method of
is relatively low, and generally only needs to pay a card swiping fee of about 0.65%.
However, this repayment method itself is illegal. Once it is monitored by the bank, it may face the risk of derating or even blocking the card at any time. At that time, the capital chain will break. If it is not a forced one, it is recommended that you do not use this method.
4. Increase the source of income and learn to restrain yourself at the same time
The contents we mentioned above can give everyone a deeper understanding of the charging standards, repayment methods, etc. of credit cards, but these are just expedient measures. To truly eliminate credit card pressure, the most fundamental measure to get rid of card slaves is to restrain yourself.
suggests that you overdraw your credit card as much as you have. Only when your credit card consumption is within your own range can your credit card play its greatest value.
In addition, after owing huge credit card bills, don’t think about using some skills to easily avoid them. To truly solve the pressure of credit card debt, the most fundamental solution is to find ways to increase your income. Only when your income can cover your credit card bills can you face it calmly.
