Is credit card consumption a loan?
Credit card consumption is actually a kind of loan, but there are some differences from the familiar loans. Credit card spending can only be used in online platforms or offline physical stores, and the amount that can be withdrawn is limited, and the maximum amount cannot exceed 50% of the credit line of the credit card.
Moreover, the credit card limit can be recycled, and the often-mentioned cash loan will not be restored after repayment, and it needs to be re-examined when it is used up. In addition, credit card consumption has an interest-free period, and if it is repaid in full and on time before the repayment date, it will not generate interest. However, the interest will be calculated from the cash loan.
Many banks have also launched credit card loan products, which do not occupy the credit line of credit cards and can be used to apply for additional loan lines. For example, angel loan from Bank of Communications and E-point loan from Shanghai Pudong Development Bank.
Does credit card consumption loan affect mortgage?
Credit consumption loans generally do not affect the mortgage, as long as they are paid off, there is no overdue record. If the cardholder has overdue records, long-term non-repayment, illegal use of credit cards, malicious cashing, etc., it is easy to trigger the bank risk control system. The cardholder's credit card will be downgraded and blocked, which will also affect the cardholder's mortgage approval results.
The above is the sharing of "whether credit card consumption is a loan", I hope it will help everyone!