I think consumer credit products do more harm than good! The reasons are as follows: First: Consumer credit products make people feel that money comes too easily.

The biggest difference between consumer credit products and bank loans is that the threshold is too low and the operation is too easy. Just click on your mobile phone and the money will arrive in your account immediately. But it was not easy to get a bank loan in the past. Nowadays, there are too many consumer credit products, and people will feel that money comes too easily. Therefore, they do not exercise restraint when spending, thinking that they will pay back after spending it. Got a credit? idea.

Such an idea is very dangerous and will allow consumers to develop the bad habit of excessive consumption. Nowadays, many young people have a lot of credit products. When their salary is not enough, they will use some credit products to overdraft. Anyway, there are many platforms for credit products now, so one platform after another, the snowball is getting bigger and bigger. The bigger it is, the more likely it is that consumers will eventually be saddled with huge debts, which is quite dangerous and may very well ruin a person's life, or even a family's life. Second: The interest rate of consumer credit products is very high

Although the threshold of consumer credit products is low, the interest rate is actually very high. It may seem that the daily interest rate is very low, but when converted into annual interest rate, it is higher than that of banks. It is three to five times higher, so if you borrow for a long time, the interest you need to pay is very high. If you can afford to pay the interest, that's okay, but if there are too many borrowing platforms and you are unable to repay, everything will have to be paid in installments. It may only take half a year or even a year, and you may have to bear hundreds of thousands of loans.

Many people may not have calculated this amount when they borrowed money, and they will be surprised in the end. But that’s the trick with consumer credit products. So be careful when it comes to things that come easily. Although it is easy to get a loan, the interest rate it provides is not something everyone can afford, so this is not a good thing.