Is applying for etc at a bank a loan?

Applying etc at a bank is not a loan

Conditions

The car owner’s valid ID must be provided and the original and copy of the driving license (non-car owners must also bring the valid ID of the agent). The copy of the driving license needs to copy the page with the seal of the latest annual inspection;

Post Credit card application form. This credit card is used to bind the ETC card. After getting the credit card, you can go to the designated postal outlet to pick up and install the ETC vehicle-mounted equipment for free with the POS slip by swiping the card twice without any fees;

Be between 18 and 60 years old;

Have a car in your own name.

The process is as follows: The original and copy of the vehicle owner’s valid ID and driving license must be provided (non-car owners must also bring the valid ID of the agent), and the copy of the driving license must be stamped with the latest The page with the seal of an annual inspection;

Fill out a credit card application form. The credit card is used to bind the ETC card. After getting the credit card, swipe the card twice with the POS slip and you can go to the designated outlet to get the installation for free. ETC on-board equipment (OBU), during which no fees are charged;

If the car owner already has a credit card and wants to use it to bind the ETC function, I am sorry that this does not fall within the scope of this free gift of equipment, so even if If you have a credit card in your hand, if you want to get OBU equipment for free, you still need to apply for a new credit card. The original card and the new card have the same limit. Of course, you can also cancel the original credit card and only use the new card;

If the car owner has a savings card and wants to bind the ETC function, according to the requirements of the transportation department, a certain amount of deposits must be frozen, and the equipment will not be given away for free. Will binding etc. to a bank card affect the loan?

No. A bank card is a financial tool used to pay the loan principal and interest when you apply for a loan. Binding a bank card is only used for loan payment and is not used to affect the loan review result. Will ETC arrears be included in the credit report and have a big impact on home purchase loans?

Not all ETC arrears will be included in the credit report and affect the mortgage loan. According to regulations, only if the payment is in arrears for more than 30 days will be included in the credit report, which will have an impact on the individual's future credit card applications, housing loans, mortgage loans, etc. .

On November 18, 2021, the Central Bank and the China Banking and Insurance Regulatory Commission issued the "Guiding Opinions on Financial Services to Support the Reform of the Toll Highway System" (Yinbanfa [2019] No. 185). The opinion pointed out that ETC arrears exceeding 30 days will be reported to the personal credit report. The specific content is:

Support commercial banks and non-bank payment institutions, on the premise of obtaining the authorization of the information subject and fulfilling the notification obligation, to collect the information of users who are still in arrears for more than 30 days from the toll payment transaction date. Submit a basic database of financial credit information, and the information retention period shall be in accordance with the relevant provisions of the "Regulations on the Administration of the Credit Reporting Industry".

How good is ETC?

Using ETC, the system will directly deduct the toll when passing the toll station. The vehicle does not need to manually collect the card, and the transportation department does not need to have a dedicated person to collect fees. It can be said to save time and effort. It also greatly shortens the time for everyone to pass the toll station.

Why is ETC in arrears?

ETC is used first and then deducted. If the balance in the bound bank card is not enough, it will result in arrears.

What should I do if ETC is in arrears?

You can go to major banks, municipal post office collection outlets or through the ETC WeChat official account or Alipay service window to pay the arrears. Do not be in arrears for more than 30 days, otherwise it will affect your personal credit report.

How important is your credit report?

A personal credit report can be said to be a person’s “ID card” in economic terms and a person’s identity card in financial activities. Endorsement, if the credit report is not good, applying for a loan from the bank will affect the various evaluations of the company under your name. The most common one is a mortgage application. Chinese people are very fond of houses, but most houses require bank loans. What kind of review does the bank rely on to approve such a large loan? It's your income and personal credit. Looking at your income is looking at your repayment ability, looking at your credit report is looking at remembering to repay your credit. If it is just because of the little money in ETC arrears that affects your personal credit report, it is really not worth the gain.

Hello, is it necessary to apply for etc. when applying for a loan from China Construction Bank? Is it not possible to do so?

There is no direct relationship between loans and handling etc. I think this is a bundled marketing activity of the fitness bank. You have reason to refuse. If you are not forced to do it, you can complain to the supervisor