Good news for credit card holders.bankThe industry association issued “About Adjustmentsbank“Proposal for Improving Service Quality and Efficiency at Certain Service Prices” encourages credit card issuers to establish credit card time tolerance and tolerance service mechanisms. In the past month, manybankThe limit of “tolerance service” has been adjusted, from the previous 10 yuan to 100 yuan. In addition, there are Bank of China,CITIC BankIt will be announced that the increase will be completed by the end of November, before the end of the year, or within three months of the announcement of the proposal.
People in the credit card industry said that this also means that the unpaid portion of the credit card holder’s current period will be regarded as normal full repayment, not overdue, from the previous less than 10 yuan, to 100 yuan. This will benefit customers with non-malicious debts and avoid credit problems.
The proposal is released one month after the current interest-free unpaid balance of ICBC, CCB and other credit cards has reached 100 yuan
The Banking Association issued the “Proposal on Adjusting the Prices of Some Bank Services to Improve Service Quality and Efficiency” on October 12. The “Proposal” shows that in order to further improve the quality and efficiency of credit card services, all credit card issuers are encouraged to start implementing within three months from the date of this proposal: establish a credit card time tolerance and tolerance service mechanism. Provide cardholders with “time-tolerant services”, such as a 3-day grace period for repayment. Provide “tolerance service” to cardholders. If the cardholder fails to repay the full amount in the current period, and the unpaid portion is less than the limited amount, and the limited amount is generally not less than 100 yuan (or equivalent foreign currency), it shall be regarded as a cardholder. The cardholder repays the payment in full as normal.The issuing bank based onBank of ChinaIndustry AssociationBank of ChinaExcept where the Card Industry Self-Discipline Convention has provided cardholders with other preferential services of the same type.
The so-called tolerance service, introduced by a staff member of a major bank, means that within the due repayment grace date (due repayment date + grace period), when the unpaid portion of the previous period’s bill is less than or equal to a certain amount, the cardholder is deemed to be the cardholder. The current period has been repaid in full, and no interest will be charged on the outstanding portion (excluding transactions that do not enjoy the interest-free period).
One month since the above-mentioned proposal was released, the “tolerance service” limit of many banks has been adjusted to 100 yuan. ICBC said that starting from October 31, 2023, if the cardholder fails to repay the loan in full in the current period, and the unreturned portion is less than 100 yuan (or the equivalent in foreign currency), it will be regarded as the cardholder repaying the loan in full normally. According to ICBC staff, the bank’s tolerance before this was 10 yuan.ABCIt said that from October 31, 2023, preferential services will continue to be implemented for credit card services, including credit card time tolerance and tolerance service mechanisms.
Before the above-mentioned initiative was released, the tolerance service limit of some banks was 100 yuan. According to CCB staff, the bank’s credit card repayment tolerance service stipulates that when the cardholder makes repayment on time but fails to repay the entire repayment amount in full, the bank will calculate the difference between the repayment amount and the entire repayment amount. If the amount is less than 100 yuan (25 US dollars, 20 euros), the bank will treat the cardholder as repaying the full amount, and the cardholder can enjoy the interest-free repayment period for consumption money; when the cardholder repays the money on time, However, when the minimum repayment amount is not repaid in full, if the difference between the repayment amount and the minimum repayment amount is within 100 yuan (25 US dollars, 20 euros), the bank will treat the cardholder as repaying the minimum repayment amount. , no penalty will be charged to cardholders. This regulation will take effect on August 28, 2023 (inclusive).
Many banks are on the way to “raise their credit limit”
In addition to banks that have already adjusted their limits, many banks have announced adjustments to credit card tolerance service limits at the end of November, the end of the year, or within three months of the announcement of the initiative.
Bank of ChinaPublished at the end of OctoberannouncementZhongji said that it will continue to provide credit card tolerance services and increase the tolerance service limit to 100 yuan before the end of November. Among joint-stock banks, China Guangfa Bank stated on November 8 that within three months from the date of the announcement of the Proposal, the bank would optimize the original credit card time tolerance service mechanism and increase the tolerance service limit to 100 yuan.Ping An BankIt said that starting from December 21, 2023 (inclusive), the bank’s credit card repayment tolerance will be adjusted from 30 yuan (including RMB 30 or US$6) to 100 yuan (including RMB 100 or US$20). Yuan), there is no need to actively apply for this service.CITIC BankIt was previously stated that it would follow the initiative and increase the tolerance service limit to 100 yuan before the end of the year.
Industry insiders believe that according to the Initiative, all credit card issuing banks are encouraged to implement the initiative within three months from the date of issuance of this initiative and establish a credit card time tolerance and tolerance service mechanism. In the future, more banks may respond to the initiative. Credit card tolerance service limits are adjusted. Dong Zheng, a credit card expert, said that because the credit limit of bank credit cards was not high before, the tolerance was set at about 10 yuan at that time. Nowadays, with the increase in credit card credit limits, it is reasonable to increase the tolerance in due course.
If the unpaid amount is less than 100 yuan, it will be considered as full repayment. The method of accruing interest in full on bank credit cards has caused heated discussion.
A number of banks collectively announced a discount on credit card fees!
Many banks’ credit card tolerances are raised to 100 yuan, and any monthly payment of 100 yuan less can be regarded as full repayment!
(Source of article: Financial Associated Press)
Source of article: Financial Associated Press
Original title: It’s about credit card repayment!If the current unpaid balance is less than 100 yuan, it will not be considered overdue. ICBC, China Construction Bank and other banks have implemented the adjustment within three months.
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