What are the differences between consumer loans and credit cards?

Credit card loans and consumer loans both borrow money to consume first and repay later, and their consumption patterns are the same. Therefore, many people are basically confused about the difference between the two. So what are the differences between consumer loans and credit cards?

1. There are differences in repayment methods between consumption and credit cards. Consumer loans are repaid on a fixed schedule, while credit cards can be repaid in full, in installments or according to the minimum repayment amount, providing cardholders with more convenience.

2. There are differences in the convenience of application for consumption and credit cards. Applying for a consumer loan is cumbersome, the process is cumbersome, the approval is strict and the approval time is usually long. In many cases, applying for a consumer loan requires the applicant to provide a lot of supporting documents, and even provide mortgages, guarantees, etc. Applying for a credit card is relatively easy. Customers can apply for a credit card through bank offline outlets, bank official websites and other websites, as well as through WeChat, mobile apps and other channels. During the application process, you only need to provide personal information and application materials such as proof of employment and income. Credit card approval times are relatively short and application is more convenient.

3. The costs of consumption and credit cards are different. Consumer loans do not enjoy an interest-free period. Lenders are required to repay each installment on time from the effective date of the loan. Loan costs cannot be avoided. Credit cards enjoy an interest-free period of up to 50 days to 56 days. Cardholders are free of charge for overdraft consumption during the interest-free period. As long as the payment is repaid in full before the due payment date, there is no need to bear capital costs.

4. There are differences in the scope of use of consumption and credit cards. Generally, consumer loans from banks are fixed and earmarked by the cardholder. For example, a house purchase loan can only be used to purchase a house, a car loan can only be used to buy a car, a decoration loan can only be used for decoration, and a consumer loan can only be used for specific types of consumption. etc. Credit cards have a wider range of uses and are relatively more flexible. After applying for a credit card, you can pay by credit card at all merchants that accept credit cards.

The above is an introduction to the differences between consumer loans and credit cards. I hope it can give you some reference.

What is the business process of Hua Xia Bank’s specialty product consumer credit loan card?

1. The borrower can apply for a personal comprehensive consumer loan and pay with a consumer credit card if approved by the bank.

2. After the loan is approved, fill in and sign the "Consumer Credit Loan Card Personal Customer Account Opening Application", "Hua Xia Bank Personal Bank Account Management and Consumer Credit Loan Card Use Agreement" and other documents, and open it at the branch Consumer credit card.

3. The borrower uses a consumer credit loan card to pay independently.

There is a consumer loan where you can buy a card and then withdraw cash. What is it called?

It is called a consumer card loan. A consumer card means that you need to spend money in a designated online shopping mall after you place the card. Then the loan will be extended. Generally, the consumption amount will exceed the loan amount. The consumer cards that appeared on the market before were all interested first and then the principal, which was to induce consumers to consume through low-amount loans. Borrowing is risky, so be careful when choosing.

Credit card consumer loan

Credit card consumer loan application conditions: 1. Chinese citizens with full capacity for civil conduct, aged between 18 (inclusive) and 60 (inclusive).

2. Have legal and valid identity certificate and household registration certificate (or valid residence certificate) of the location of the loan bank.

3. Have a stable source of income and the ability to repay the loan principal and interest in full on schedule.

4. Have a good credit record and willingness to repay, without any illegal behavior or bad records.

5. Obtain a risk grade of B (inclusive) or above in the ICBC retail internal rating system.

6. For existing ICBC customers, the customer star rating should be 4 stars (inclusive) or above.

7. Open a personal settlement account at ICBC.

Credit card consumption loan application method:

1. Mobile banking

1. Enter the loan amount (from 600 yuan to the current maximum loan limit) and select the loan Term (from 2 months to 24 months), choose the purpose of the loan, choose whether to apply for a grace period (for loans longer than 12 months, you can apply for no repayment in the first 6 months, and repay in equal monthly installments starting from the 7th month )

2. Select collection and repayment; enter your mobile phone number to receive the verification code, and the verification code is passed; read and accept the Personal Credit Consumer Loan Business Agreement, and click "Next"

3. The customer confirms or fills in the customer information and contact information according to the page prompts, and confirms the loan information

4. After confirmation, the U-shield or electronic cipher must be used for identity verification

5. Click "Next" and the application is successful

2. Online Banking

1. Enter the loan amount (from 600 yuan to the current maximum loan limit); select Loan period (from 2 months to 24 months); select the purpose of the loan; choose whether to apply for a grace period (for loans exceeding 12 months, you can apply for no repayment in the first 6 months, and repay in equal monthly installments starting from the 7th month payment); select collection and repayment; enter the mobile phone number to receive the verification code, and the verification code is passed; read and accept the personal credit consumer loan business agreement, and click "Next"

2. Customers follow the page prompts Confirm or fill in customer information and contact information, etc., and confirm the loan information

3. After confirmation, you need to use U-shield or electronic cipher for identity verification

4. Click "Next step", the application is successful

Credit card consumer loan application limit:

ICBC credit consumer loan limit is 600 yuan to 300,000 yuan, the span is quite large, the bank will based on your credit qualifications to approve your available credit. Whenever the end of the year, the beginning of the year, or a holiday approaches, ICBC will increase the credit limit of cardholders with good credit standing and frequent card swiping, generally by 10-30%.

Methods to increase the limit:

1. The individual has a good credit record. When applying for an ICBC personal loan, it is important for the borrower to have a good credit record. Generally speaking, if an individual has a good credit record, the personal loan limit can be increased accordingly.

2. The borrower has certain fixed assets in his name. When applying for an ICBC personal loan, even if it is an unsecured personal loan, if the applicant can provide proof of property and car in his or her name, the amount of the ICBC personal loan can be increased.

3. The borrower has a social security card and provident fund. If the applicant's unit has been paying five social insurances and one housing fund, when applying for an ICBC personal loan, the applicant can also provide these certificates to the lending institution, and the loan amount can also be increased to a certain extent.