Author's Secret: Lao Chen, a master of law in a famous university in China, is a professional in the financial field. Now he often lives in Beijing and works in finance. His speech on our credit card and cash withdrawal and its legality is very authoritative.
If you advance, you will retreat. If you don't advance, you will retreat. You must say: Make a card first.
In recent days, many well-meaning friends called the author: Mr. Chen from Zhongguancun, who recently arrested some cashing merchants; The bank terminated its cooperation with Alipay; Minsheng Bank cancelled the installment quota of its credit card; ,,,, and so on, to name a few, can't agree, true and false Monkey King soared. The author tries to analyze cash-out in the context of the current economic crisis, and applies it to the teacher's famous saying: Hehe, what a big deal!
It can be said that credit cards are born for cashing, and cashing is the foundation of credit cards. In the global village, you have to cash in before you have a credit card. This is the beginning of the life enthusiasm for inventing credit cards. Consume first and then repay, that is, cash out. Any credit card handbook will state that a credit card is a small loan.
The credit limit is set by the bank, and the cardholder can spend first and then repay. Non-cash withdrawal transactions, repayment within a certain period of time, can enjoy interest-free repayment period. This should be the definition and the most basic function of credit cards, and most people only know that credit cards can be used first and then returned without paying interest. Credit cards don't have to be repaid in full within a certain period of time, that is, they can choose the lowest repayment at the expense of paying the corresponding interest, which is the financing function of credit cards. Whether it is less repayment or direct cash withdrawal, it is essentially a credit card cash withdrawal. These functions are not only indicated in the credit card handbook, but also an important way for credit card centers to make profits. Therefore, this cash-out behavior should not be cracked down. If the bank hits, they will learn from Zhou's right-hand man.
So, what is the credit card cashing that many so-called theoretical experts say now? In fact, it is relatively zero-cost cash. There are many ways to cash out at relatively zero cost, but now it is mainly through Alipay's online payment that is severely criticized by the media. They said: cardholders make false transactions through Taobao, and at the same time change the credit limit of credit cards into cash of other people's bank cards in the form of transactions, so as to realize the purpose of cashing out credit cards. At the same time, they also believe that this move will bring huge risks to banks, which is the root cause of all kinds of bad debts and bad debts in dormant accounts. This accusation is obviously unfounded.
The dormant accounts of a large number of bad debts generated by bank loans have little to do with credit cards, while the real dormant accounts of bad debts generated by credit cards are mainly caused by banks' spamming of credit cards. So far, there has not been any bad debts or bad debts in the bank due to credit card cashing.
So strictly speaking, spending first and then repaying is a kind of cash itself. If the cardholder has money and doesn't spend it, he just wants the bank to pay, and the cash in his pocket will not move for the time being. What is this? When the cardholder inserts the credit card into the ATM, he can withdraw the cash directly, but the cash in his pocket is still temporarily motionless. What is this? The so-called credit card cashing cardholders undoubtedly hope to reduce the interest cost, make use of cashing to invest and earn higher income than interest. Such cardholders are basically ready to repay; Those who are not prepared to repay the loan simply don't have to cash out and just squander the credit line. As for how much interest there will be in the future, they don't have to consider it at all, and they are not going to pay it back anyway. This is malicious behavior.
Many people risk their lives to cash out, mainly because of the secret love in the bank. They think that cardholders will use credit cards to go to bank counters or ATM machines to withdraw cash. Let's take a look at the cost of this withdrawal. According to the daily interest rate of 5%%, even if the withdrawal fee is not considered, the annualized interest rate is as high as 19%. If you add about 2% ~ 3% # to the withdrawal fee, the annual interest will exceed 20%. Another game rule of the bank, the minimum repayment amount is calculated according to the theory of 10 times, and the annual interest rate will reach 36%. Even the usury interest rate on the market is only about 10%- 15%. This is the fundamental reason why some cardholders rarely use credit cards to withdraw cash from the bank (but quite a few people are in a hurry to withdraw cash from the bank), and there are many other ways that are not illegal.
In addition to direct cash withdrawal,
Credit card installment payment has also become a feasible financing method. For example, a cardholder makes a large expenditure, and then he applies for installment payment through the credit card center to achieve the purpose of financing consumption. Calculated according to the average handling fee of 0.6% per period, the monthly 1 period is divided by 12%, and the effective interest rate is about 12%. The real interest rate will be higher if taking into account the requirements of Industrial Bank (6065,438+065,438+066), Industrial and Commercial Bank of China and other banks to pay the handling fee first. It is understood that the credit card financing interest rate that cardholders are willing to accept is between 7% and 9%, which means that the current installment interest rate is still too high.
If the law does not prohibit it, cashing out is legal. Since the country allows credit cards to exist, it is impossible to prohibit credit card cashing. Legally speaking, there are no clear rules to determine what is credit card cashing and what is not. The credit card cashing that people often mention is artificially understood as a derogatory term (this is very strange), which is equivalent to saying: I said you cashed out, not too; I said no, yes and no, this is a typical score. Therefore, the state should determine from legislation what behavior is allowed, what behavior is prohibited, and what is not prohibited by law is ok. This is a society ruled by law. Don't be frightened by these words. As a cardholder, it is enough to fully understand the situation of China people and Article 196 quater of China Criminal Law. Mastering the essence, the method is not a problem, hehe.
As for the way that the cardholder swipes the card through the merchant's POS machine, if both the merchant and the cardholder are not malicious and subjective, as for cashing out, it is obviously a civil issue. As long as it is the true meaning of both parties, there is no obvious unfairness, which is in line with the spirit of civil law and there is no flaw. As for my good friend who told me that he had arrested a cashing merchant, it must be subjective and malicious. Everything has subjective malice, and the plot under malice must be grasped!
As for Alipay's cash withdrawal, no one can be sure whether a transaction is a false transaction. Even if both parties are in the same city, use the same IP address, do not pay business tax, and there are several large transactions in a short time, you can think that these are the characteristics of a false transaction, but you can't use these phenomena to prove that the transaction is false.
For example, a company held an annual meeting and held an annual lottery. Zhang Sanzhong won a laptop. Because he already has a computer, he sells it on Taobao. At this time, Li Si of the same company just wanted to buy a laptop, so she bought Zhang San's computer on Taobao. Since then, Wang Wu, Liu Zhao and Sun Qi have also won prizes with Zhang San. He saw that after Zhang San won the prize through online sales, he also asked Zhang San to sell computers on his behalf. After Li Si bought the computer, he was thought by his friends to buy a good and cheap product. He also asked Li Si to help him buy it. Since then, Li Si and Zhang San have continued to buy and sell several laptops on Taobao. The same IP address, the same city, this behavior seems to be a credit card cash.
The solution to this problem is either to ask Li Si not to buy a laptop or not to buy it with a credit card. Both methods have lost the significance of e-commerce and are a retrogressive behavior. So, should credit card cashing be strictly prohibited? Some people have cashed in their credit cards, which shows that there is a market for cashing in credit cards. Whether to eliminate this market or guide it reasonably depends on the decision-making level, but we can't start to demonize the credit card and e-commerce model.