One of the girls is especially like the shopaholic Fang Fangfang played by Cecilia Cheung in Love Woman. She likes shopping so much that she accidentally swiped her credit card.
Some time ago, she ran out of the "drama" and asked me: In May, I recently found a credit card repayment platform. The interest rate is lower than installment payment. Is it reliable?
I've been thinking about this question for the past two days, and I feel it necessary to tell you something.
Let's explain what a credit card repayment platform is.
This kind of platform usually adopts the way of "differential compensation", that is, borrowing money to pay off debts.
Simply put,
If you choose to pay back the money, the platform will let you bind the credit card to help you return the money to the bank and restore the credit limit.
The money owed to the bank is transferred to the platform, and you pay it back to the platform in installments.
Attractively, many platforms say that their interest rates are twice as low as those of banks, and they are more flexible in staging.
However, is the interest rate of repayment platform really lower than that of banks?
I tried a popular alternative platform in the market.
The annualized interest rate is 1 1.03%, which will be repaid in six installments. Compared with the lowest annualized interest rate of credit card repayment 18.25%, it is indeed favorable on the surface.
Give a chestnut:
I owe China Merchants Bank RMB 20,000 by credit card, and I will repay it in six installments, with the repayment amount of RMB 3,483.33 per installment;
Repayment on this platform will be made in six installments, with the repayment amount of RMB 3,440.59 per installment.
This bank is only cheaper than the bank in 40 yuan, and there is not much discount, not to mention the 50% discount advertised.
Moreover, the interest rates of different platforms vary greatly, and not all repayment platforms are lower than their own banks.
For example, a bank's annual interest rate is 9.24%, and ICBC's annual interest rate is only 7.75%, so it is better to stage it directly.
Therefore, it is recommended that friends in need make a practical trial comparison.
Why is this platform higher than the bank interest rate?
Because the risk control cost of credit loans is higher than that of secured loans.
Moreover, the quality of borrowers on this platform is worse than that of credit card holders.
When these two risk control costs are added together, if the interest rate of the platform is still low, then the operation will be quite difficult.
Speaking of risk control, I have to mention one point that I value more, personal information security.
We look at the essence through credit card "balance compensation", which is actually a mini peer-to-peer lending.
If the platform wants to carry out risk control, it needs information to ensure that you have the corresponding repayment ability, and the more detailed the information uploaded, the better.
Therefore, they will check the credit status of borrowers through various channels.
For example, some platforms will need provident fund or social security information, or check credit records many times.
You must knock on the blackboard:
If you have friends who need large loans such as mortgages recently, try not to always check the credit information.
Because this is likely to make the bank think that this person is short of money and borrows money everywhere, thus affecting the approval.
So in general, unless it is an emergency, I strongly recommend not to use the replacement platform.
This behavior of robbing Peter to pay Paul seems to save money, but in fact it is further developing excessive consumption.
When we apply for a credit card, the bank usually gives the corresponding amount according to the property situation.
This amount, to a certain extent, is the embodiment of the applicant's spending power. The debt ratio can only be so high, and if it is too high, it may not last.
However, the emergence of repayment platform, isn't it that you took a high credit card beyond your ability?
This is very easy to produce the irrational psychology of "don't worry about swiping the card, it can help me delay for a while anyway".
I don't object to spending in advance, and I agree that good debt is beneficial.
However, don't forget your repayment ability in the infinite indulgence of the platform to repay credit cards.
Excessive love is often like a gentle knife, cutting people's lives.