The simple interest of a loan means that it is calculated according to the initial loan principal, and the loan interest is not included in the principal interest. The opposite of simple interest is compound interest, that is, the loan interest is added to the loan principal. Obviously, the simple interest of a loan is lower than the compound interest. Most loans charge simple interest, but wealth management has compound interest.

When applying for a loan, users need to pay attention to whether the loan is simple interest, and there will be usury after compound interest.

Can I get a credit card loan?

Of course. Generally speaking, banks will offer exclusive loan services for credit card customers, such as privileged loan of Bank of Communications, fast loan of China CITIC Bank and reserve fund of China Merchants Bank. As long as the user holds a bank credit card, is in good condition and has no record of overdue repayment, he can apply for relevant loan services from the bank.