With the continuous development of economy, people's consumption level is getting higher and higher, the loan market is getting hotter and hotter, and loan products are springing up like mushrooms after rain. So do you know the difference between credit card loans and consumer loans?

(1) has different application ranges.

Consumer loans: General bank consumer loans will be earmarked for cardholders. For example, housing loans can only be used to buy a house, car loans can only be used to buy a car, decoration loans can only be used for decoration, and consumer loans can only be used for specific types of consumption.

Credit card loans: Credit cards are more widely used and relatively flexible. After applying for a credit card, all merchants who can pay by credit card can pay by credit card.

(2) Different costs

Consumer loan: Consumer loan does not enjoy interest-free period, and the lender needs to repay each installment on time from the effective date of the loan, so the loan cost is unavoidable.

Credit card loan: Credit cards enjoy a maximum interest-free period of 50 -56 days, during which cardholders can freely overdraw. As long as the repayment is made in full before the due repayment date, there is no need to bear the capital cost.

(3) The convenience of application is different.

Consumer loan: Consumer loan application is troublesome, complicated, strict in examination and approval, and usually takes a long time. In many cases, the applicant needs to provide more supporting documents and even provide mortgage and guarantee.

Credit card loan: It is relatively easy to apply for a credit card. Customers can apply for credit cards through offline outlets of banks, official website of banks, WeChat and mobile applications. In the application process, you only need to provide personal information and application materials such as work certificate and income certificate. Credit card approval time is relatively short, and it is more convenient to apply.

(4) Different repayment methods.

Regular repayment of consumer loans; Credit cards can be repaid in full, in installments, and at the minimum repayment amount.