Credit card loans and consumer loans are both borrowing money, spending first and then repaying, and their consumption patterns are the same. Therefore, many people basically confuse the difference between the two. So what's the difference between consumer loans and credit cards?

1. There are differences in repayment methods between consumer card and credit card. Consumer loans can be repaid regularly, while credit cards can be repaid in full, in installments or at the minimum repayment amount, which provides more convenience for cardholders.

2. There are differences between consumer cards and credit cards in the convenience of application. Consumer loan application is troublesome, complicated and strict, and usually takes a long time. In many cases, the applicant needs to provide more supporting documents, even mortgage, guarantee and so on. Applying for a credit card is relatively easy. Customers can apply for credit cards through offline outlets of banks, official websites of banks, WeChat and mobile apps. 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 application is more convenient.

3. Consumption and credit card are different in cost. Consumer loans do not enjoy interest-free period, and lenders need to repay each loan on time from the effective date of the loan, so the loan cost is inevitable. On the other hand, credit cards enjoy a maximum interest-free period of 50 -56 days, during which cardholders can freely overdraw. As long as they repay in full before the due date, they don't have to bear the cost of capital.

There are differences between consumption and credit card in the scope of use. General bank consumer loans will be earmarked for cardholders. For example, housing loans can only be used to buy houses, car loans can only be used to buy cars, decoration loans can only be used for decoration, and consumer loans can only be used for specific types of consumption. 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.

The above is the introduction of the difference between consumer loans and credit cards, hoping to give you some reference.

What is a consumer loan?

Consumer loans are loans for consumer activities. Personal consumption credit refers to several loan forms that individuals apply to banks with assets or credit status as collateral, such as credit card loans, non-housing loans and residential mortgage loans.

Consumer loan is a credit loan provided to individual consumers in the form of a series of figures (quotas) in the financial system.

It is mainly used for personal loans such as car purchase, household appliances, house decoration, durable goods purchase and study abroad loans. In terms of types, consumer loans include residential mortgage loans, non-housing loans and credit card loans.

It has the characteristics of wide consumption purposes, high loan amount and long loan period.

To apply for a consumer loan, you need to meet eight application conditions:

(1) Borrower's identity certificate and its copy;

(2) materials such as temporary residence permit;

(3) Proof materials such as credit certificate, work certificate or income certificate.

(4) Proof of ownership of mortgaged assets;

(5) Guarantee agreement signed by the guarantor;

(six) the guarantor's credit certification materials;

(7) Collateral appraisal report issued by authoritative appraisal department;

(8) Other documents and certification materials as stipulated by commercial banks.

Consumer loan is different from cash loan, which is a kind of loan, while consumer loan is a string of numbers and a financial line. Cash loans can be used immediately, while consumer loans can only be used to buy specific goods or for specific purposes. When the lender needs cash for various reasons, he can apply for a cash loan from the bank as long as the purpose is legal.

After the loan is successful, the bank will distribute cash to consumers, but the cash loan does not limit the types of goods purchased by consumers or use them for other purposes. As long as it is legal and compliant, there are no other restrictions. In terms of loan types, consumer loans are the same as cash loans, and cash loans can be divided into installment loans, single payment loans and general credit card loans due to different repayment methods.

Repayment method:

1. Equal repayment of principal and interest: that is, the sum of loan principal and interest is repaid by equal monthly repayment. Most banks have adopted this method for housing provident fund loans and commercial personal housing loans. In this way, the monthly repayment amount is the same;

2. Matching principal repayment: a repayment method in which the borrower repays the loan in installments (months) and pays off the loan interest from the previous trading day to the repayment date. In this way, the monthly repayment amount decreases month by month;

3. Pay interest and repay the principal on a monthly basis: that is, the borrower repays the loan principal in one lump sum on the maturity date of the loan [loans with a term of less than one year (including one year)], and the loan bears interest on a daily basis and the interest is repaid on a monthly basis;

4. Repay part of the loan in advance: that is, the borrower can repay part of the loan amount in advance when applying to the bank, and the general amount is an integer multiple of 65,438+0,000 or 65,438+0,000. After repayment, the lending bank will issue a new repayment plan, in which the repayment amount and repayment period change, but the repayment method remains unchanged, and the new repayment period shall not exceed the original loan period.

5. Repay all the loans in advance: that is, the borrower can repay all the loan amount in advance when applying to the bank. After repayment, the loan bank will terminate the borrower's loan and handle the corresponding cancellation procedures.

6. Pay back as you borrow: interest after borrowing is calculated on a daily basis, and interest is calculated on a daily basis. You can pay the money in one lump sum at any time without paying a fine.

What is a consumer loan? Is it a credit card?

Hello, there are so many platforms that can provide loan business now. You can apply for a bank loan by mortgage. A more convenient way is to apply for a personal credit loan. I suggest that you choose a formal platform when applying for a loan to better protect your personal interests and information security.

It is recommended to use rich flowers, which is a credit brand of Xiaoman Finance. It provides users with safe, convenient, unsecured and unsecured credit services. If you borrow money, you can go to Xiaoman Financial APP (click on the official measurement). Consumer loans with money to spend, with a daily interest rate as low as 0.02%, have the characteristics of simple application, low interest rate, quick lending, flexible loan repayment, transparent interest rate and strong security.

I would like to share with you the application conditions for consuming products with money: it is mainly divided into two parts: age requirements and information requirements.

1. Age requirement: 18-55 years old. Special note: if you have money to spend, you refuse to provide installment loans to students at school. If you are a student at school, please give up your application.

Information requirements: You need to provide your second-generation ID card and your debit card during the application process.

Note: The application only supports debit cards and the application card is also your loan bank card. My identity information needs to be the second-generation ID card information, and I can't apply with temporary id card, expired ID card or first-generation ID card.

This answer is provided by You Huahua. Due to objective reasons such as the timeliness of the content, if the answer content is inconsistent with the actual interest rate calculation method of Youhuahua Loan products, the display on Xiaoman Financial APP- Youhuahua Loan website shall prevail. I hope this answer is helpful to you.

Personal consumption loan is the introduction of credit card, so let's stop here.