Now many people have the habit of using credit cards. Using credit cards can advance future income to meet the current consumer demand. Therefore, credit cards have become an indispensable payment method for many people. In January 2019, major banks began to launch new credit card regulations, but many users who use credit cards don't know much about it. The new credit card regulations mainly involve installment, handling fee, points, special card rights and interests, etc. the small part of this article brings you an introduction to the new credit card regulations in 2019. Let's have a look. These are closely related to your interests.
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1、 Credit card installment prepayment is not free
There are two ways to collect the installment service charge of credit card:
One time charge for the first phase
Some bank installment fees will be collected in the first phase, and will not be refunded once collected. For example: Bank of China.
Installment collection
In the past, when applying for prepayment after installment, the handling fee that has not been generated after the previous installment will not be charged.
In recent years, after applying for prepayment, the remaining principal of each period and all remaining handling fees need to be paid at one time, and the collected handling fees of each period will not be refunded.
For example: China Construction Bank, China Merchants Bank, Bank of communications, Guangdong Development Bank, Minsheng Bank, Shanghai Pudong Development Bank, Huaxia Bank and Ping An Bank.
Industrial and Commercial Bank of China and China CITIC Bank are no longer free this year. They apply for prepayment after installment, and charge 3% of the remaining outstanding principal.
ABC's collection method is quite special. Take it out and say it
From January 10, 2019 (inclusive), apply for prepayment of the full amount, the service fees collected or recorded will not be refunded, and the service fees of the first period of unpaid bills will be calculated and charged. (or the kindness of ABC)
For consumption, merchant or special installment, apply for prepayment of the full amount after handling and before the generation of the first bill of the installment. The collected / recorded handling fee will not be refunded, and the handling fee without bill will be exempted.
Why do banks charge special fees?
Installment fee is the responsibility of performance
In the third quarter of 2018, the total outstanding credit of credit cards overdue for half a year reached 88.098 billion yuan. Young people nowadays are the main consumers of consumption, and they love to spend more money than before. No matter whether they exceed their own ability to repay, they can see that the turnover of Alipay bills and double eleven will be found in 2018.
UnionPay data show that in the first half of 2018, the bank's credit installment fee income continued to rise, accounting for 35.5%. As the performance responsibility of the bank, of course, the bank should make great efforts to develop!
Contract spirit, trend needs
The agreement between the cardholder and the bank on installment is equivalent to signing a contract. If the cardholder repays in advance, the bank will consider it as a violation of the agreement and charge a handling fee or liquidated damages. In foreign countries, this rate will be higher. With the continuous development of credit card business, installment prepayment will bid farewell to the free era.
2、 New regulations on other charges
Shanghai Pudong Development Bank
From January 1, 2019, credit cards will begin to be free of foreign exchange handling charges, and cash withdrawals from the bank's and other banks' UnionPay ATMs will also be free of charges.
From February 15, online transactions with a transaction amount of 1000 yuan or more can enjoy pen online transaction SMS service.
Guangdong Development Bank
From January 15, 2019, fees will be charged for credit card offline withdrawal, overdraft transfer and inquiry procedures in proportion, ranging from 1% to 2.5%. If the handling fee is less than 10 yuan, it will be charged as 10 yuan. The customer overdrafts and transfers money through telephone channels and transfers it to the savings account of other banks, and another 10 yuan will be charged.
agricultural bank
From February 1, 2019, the handling fees for credit card overdraft and transfer in electronic channels such as online banking and palm banking will be recovered. The standard rate is no handling charge for transfer of excess payment; The transfer service charge for overdraft is 1% of each transaction amount, with a minimum of 1 yuan and a maximum of 100 yuan.
Overdraft transfer funds do not enjoy interest free repayment treatment, and the interest on overdraft amount is calculated and charged from the bank account date.
3、 New regulations on special card rights and interests
China Merchants Bank
From March 1, 2019, UnionPay zunshang platinum installment card will only accept the customer's main card application, no longer accept the subsidiary card application, and will adjust the application channel, which is limited to the online special invitation of China Merchants Bank.
China CITIC Bank
China CITIC Bank UnionPay standard car owner credit card, refueling return and car washing service will be renewed until June 30, 2019, and UnionPay standard platinum credit card exclusive health service will be renewed until December 31, 2019. The original service content and detailed rules and conditions of the two shall remain unchanged.