Visa card loan is illegal Many consumers complain to the black cat about the credit card of WeChat card. The consumer said that the credit card interest of WeChat card is high, and asked the customer to borrow as much as the next payment. After the next payment, money is forcibly deducted from the customer's bank card in the name of risk assessment or insurance. The form of routine loan has been formed. Moreover, if the customer's address book is overdue by one day, the platform will never deduct the money on the customer's repayment date, but delay it until the early morning of the repayment date, causing the customer to be overdue and collecting the customer's liquidated damages.

Advertisements such as "no mortgage, no guarantee, same-day application, same-day loan, low interest rate" make us common occurrences, and seemingly beautiful loan methods will fall into the scam of "routine loan" if you are not careful. Wechat card loan is a typical routine loan, and consumer insurance premium or membership fee is compulsory.

Some consumers said that by using WeChat to borrow 10000 yuan, the monthly interest rate is 1 13.33 yuan, the monthly interest rate is 2.8%, and the annual interest rate is as high as 33.6%. According to state regulations, those whose annual interest rate exceeds 24% are not protected by law. From this perspective, WeChat card loan is actually a disguised usury.

Choosing a formal loan platform can do this:

1. Before choosing a lending platform, it is necessary to conduct a preliminary investigation on this institution to see if relevant information can be found. Many companies under the banner of banks, formal loans and loan service platforms are essentially black intermediaries;

2. Don't trust people who sell loans by SMS or telephone easily. Before applying for a loan, they can get a credit report from the central bank, know their credit qualifications like the back of their hand, and avoid those loan platforms with poor comprehensive qualifications.

3. Paying before the loan is actually an unreasonable way of borrowing, because formal financial institutions will charge the corresponding fees after the loan is issued. The so-called credit guarantee, loan management fee and consulting fee are all illegal.