What Are the Consequences of a Debit Card Overdraft?

An overdraft card, also known as a credit card, is actually the most basic credit card. Its characteristics and the biggest difference from ordinary debit cards are: users do not need to save money first, and with the effective credit limit in the card, enjoy the first consumption life of first consumption, then repayment. First fill out a credit card application form and give it to the bank, and the bank will transfer it to the head office or card center. Then, after a period of review and approval, you are deemed to be qualified and mail you the card and password. You need to provide a copy of your ID card and as much proof of assets as proof of income, proof of real estate, etc. In some first-tier cities, it is also possible to provide a successful application by simply providing identification and business cards.

Overdraft card

Overdraft card aka

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Overdraft, the word has never been loved by people in the country, and is often used as a derogatory term, such as emotional overdraft, youth overdraft. In short, overdraft means abuse and waste, but the original meaning of overdraft is the whole spirit of credit cards: first, After repayment. This concept is more and more accepted by white-collar workers. When they are shy in their pockets, they use overdrafts to buy new clothes that they love and are on holiday specials.

They are teased into a "negative wealth family", which means that the wealth on the surface is actually obtained at the cost of a credit card deficit, but if white-collar women can use their brains, you can get unexpected surprises from overdraft consumption and learn Smart overdraft.

Overdraft card digital description

When you spend with a credit card, you must first understand the credit card's overdraft limit, repayment period, and annual fee, so that you can spend it clearly.

Five ten thousandths If the cardholder has not fully repaid after the due date, the bank will calculate the interest based on the current actual overdraft amount and days at an overdraft interest rate of five ten thousandths per day from the date of the earliest overdraft transaction. At the same time, a 3% handling fee is charged according to the amount of overdraft.

Two months For cardholders who have repaid less than the minimum repayment amount for two consecutive months, the bank will freeze the use of their consumer credit cards and entrust legal institutions to recover the amounts owed.

Whether it is a normal card or a gold card, according to the People's Bank of China, the maximum credit limit of a personal credit card is 50,000 yuan. However, it is reported that after the new "Regulations on the Administration of Bank Cards" is promulgated, it will break the current maximum credit limit of 50,000 yuan in the current Measures.

56 days Now the longest interest-free period for domestic credit cards is 56 days, so you can pay again when you receive your bill next month.

The minimum monthly repayment amount for a 10% consumer credit card must not be less than 10%.

The total repayable amount specified in the 5% statement. For the unpaid part of the minimum repayment amount, the bank will add a late fee to the cardholder at 5%.

Overdraft card discount

After you know all the overdraft numbers, you should grasp the different discounts for overdraft consumption. In the United States, the cooperation between major banks and shops has enabled cardholders to obtain more discounts and gifts, making credit cards have multiple functions such as VIP cards, discount cards, and business cards. For example, Citibank has researched consumer preferences , Launched six categories, more than 40 kinds of credit cards targeted at different customer groups, providing convenience and discounts including travel, car rental, insurance and purchase of gifts, books, audiovisual products.

In China, Guangfa Bank and Hua Xia Bank have also designed women's cards specifically for women's consumption. These cards are relatively cheap and have interactive discounts with many shopping malls, restaurants and brand stores. A female staff member of a bank paid special attention to each overdraft of consumption. In the past six months, a total of more than 5,000 yuan have been spent. Gifts obtained for this include: rogue rabbit toys, a free fitness voucher for a fitness club on the 7th, VIP cards in a store, A pair of contact lenses, a free coffee voucher, and a number of coupons for a hair salon, it is a bit "earning" to add the amount saved by the discount and the free gift. Therefore, paying attention to discounts on overdraft cards can largely save another purchase.

Practical tips for overdraft cards

Many people's credit cards are, at best, a bank card that can be consumed and cashed out. Its real "credit" is not used, and the manifestation of "credit" is often reflected by paying hydropower coal and repaying "overdraft fees" on time. So often using the credit card overdraft function and repaying the loan on time can increase the bank's trust in your personal credit.

The credit card limit is best controlled within the total income of 2 months, so that you can control the amount of your one-time consumption, and in the meantime, it is convenient for you to repay in time.

Develop the habit of making regular monthly payments. If you do nt pay it overdue, it will become a malicious overdraft. Not only will your credit be damaged, it may also break the law. If there is an interest-free period, it is best to repay the interest-free period.

After overdraft, learn to keep accounts, don't be confused overdraft tribe.

After you have a bank's credit card, it is best to use its debit card, and then sign a contract with the bank and ask them to automatically transfer money between the debit card and the credit card for you, so you don't have to worry about overdrafts. Of course, you can also complete the transfer and repayment by telephone banking yourself.

It is more difficult to apply for your first credit card abroad because they will review your credit. How can you accumulate your credit? May wish the bank to withhold water, electricity and coal to start accumulating.