Credit card application is becoming more and more easy. Now, online card issuance is very common. As long as the application materials are filled in online, the bank can conduct online review, and after the approval, the card can be issued by express delivery, and the card can be taken within 1-2 days. However, there are also traps for applying for credit cards. The following six card traps will not be told to you by bank card holders!
1. The more credit cards, the better.
Bank staff have card issuance indicators. In order to sell credit cards, you may be told that there are no more problems. In fact, there are too many credit card applications, and there is no drawback. Too many credit cards, one is easy to lead to excessive consumption, the second is that management is easy to overdue; the other is that it will be reflected in the credit card, the number of cards is too high or the amount is too high, it is not convenient to apply for loans in the future.
2, credit card can deposit
Credit card ≠savings card, except for special card types, there is no interest to deposit money into the credit card. Not only is there no interest, you want to take the money out, you may have to bear a handling fee, which is the credit card overpayment return fee, usually 0.5%-3%, very uneconomical. Never deposit or repay your credit card.
3, do not open the card does not charge annual fee
Most credit cards do not open the card activation fee, but there are exceptions. Some high-end card types or special-quality credit cards can be charged as long as they do not open the card. Therefore, when you apply for a credit card, you must ask clearly whether the card type is not activated and also charge an annual fee to avoid unnecessary expenses.
4. Repayment according to the minimum repayment amount
The credit card can be repaid at the minimum repayment amount, and the minimum repayment amount can be roughly regarded as 10% of the current bill. This seems to reduce the pressure on the cardholders to repay, in fact, the cardholders will bear a lot of credit card interest, five times a day, and compound interest on a monthly basis.
Moreover, with the exception of ICBC, other bank credit cards are charged interest at the full penalty rate. The repaid portion does not enjoy the interest-free period, and interest is charged.
5, credit card cash withdrawal
Cardholders must remember that credit card interest-free is only for credit card spending, and does not include cash withdrawal. In general, the cash withdrawal interest is calculated from the date of withdrawal and ends on the day before payment. Moreover, there is a handling fee for credit card withdrawal, which usually ranges from 1% to 3% of the cash amount.
6, credit card staging
Young cardholders are easily confused by the staging business, thinking that they can share debt and reduce costs. Credit card billing or installment purchases can indeed share the debt, but it does not reduce costs. On the contrary, the credit card installment business is very expensive, and the installment fee is converted into the actual annual interest rate, which can be as high as 13% or more, and the cost is high.
The above are the six big pits that the credit card should guard against. I hope that everyone will walk around and look at the credit card safely and reasonably.
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