The new rules for credit card implementation will be closely related to you from next year.

A few days ago, the People's Bank of China issued the "Notice on Matters Related to Credit Card Business" (hereinafter referred to as the "Notice"), and made new regulations on credit card interest rate standards, interest-free repayment period and minimum repayment amount, and cash advance business. Since the implementation of the new regulations on January 1, 2017, the interest rate of the overdraft of the hand-carrying family is up to 30%, and the interest-free period can be more than 60 days. Even the minimum repayment amount per month can be The bank negotiated.

Change 1, overdraft interest up to five tenths of a day, can be 30% off
At present, the overdraft interest of each bank is 5 per day, which is equivalent to an annualized interest rate of 18.25%. The "Notice" canceled the current unified credit card overdraft interest rate standard, and implemented the overdraft interest rate upper limit and lower limit interval management. The overdraft interest rate ceiling is 5/10,000 of the daily interest rate, and the overdraft interest rate lower limit is 30% of the daily interest rate of 50,000. That is, after the adjustment, the daily interest rate of five tenths becomes the upper limit, and the lower limit is 30% off five thousandths, that is, 3.5 parts per thousand, that is, the bank will charge the user overdraft interest rate at 0.035%-0.05 %between.
After the implementation of the new regulations, everyone can pick and choose credit cards, and choose the overdraft interest rate is relatively low.
In addition, the new regulations stipulate that the credit card overdraft calculation method and whether the credit card overpayment payment interest and interest rate standards are determined by the card issuer.

2. The late payment fee is changed to “default penalty”, and there is still a certain amount of business.
When the bill expires, the minimum repayment amount is not yet available? Then you have to pay a late payment. The credit card late payment refers to the cardholder's payment of the late payment amount if the actual repayment amount is less than the minimum repayment amount on the credit card repayment date.
At present, the proportion of late fees charged by banks is uniformly stipulated by the central bank, which is 5% of the minimum repayment amount. A user's credit card has spent 10,000 yuan, and the minimum repayment amount is 1,000 yuan. There is no repayment before the due date. The bank's current credit card late payment fee is mostly 1,000 yuan multiplied by 5%. In actual charges, late fees are charged. The minimum is 1 yuan. It should be noted that the base of the late fee payment is the part of the minimum repayment amount.
However, due to different banking policies, the minimum amount set is not the same. At present, the minimum fees for late payment fees vary from bank to bank, and the minimum fees are charged by the ICBC, Agricultural Bank, China Construction Bank and Shanghai Pudong Development Bank. The requirements are lower, there is no threshold or there is a minimum charge of 5 yuan. The minimum late payment fee for China Merchants Bank, Bank of Communications, Industrial Bank, and Guangfa Bank is at least 10 yuan or 20 yuan. In addition, some banks have set a ceiling for late fees, ICBC has a maximum fee of 500 yuan for late payment, and Huaxia Bank has a maximum of 2,000 yuan.
In the new credit card regulations, the central bank canceled the credit card late payment fee, but this does not mean that it will not be paid or used, but instead the bank will charge a “liquidated damages”. In the Notice, the central bank stipulates that the card issuer should agree with the cardholder whether to collect liquidated damages and related collection methods and standards for the cardholder's breach of contract and overdue payment. In other words, how to collect the liquidated damages in the future may be decided jointly by the credit card center and the cardholders, and the cardholders will have the opportunity to “shop around”.
However, many banking professionals said that this does not mean that the cardholders have full bargaining power. "For example, if the cardholders are reduced or even exempted from overdue liquidated damages, the cardholder may delay the repayment for a long time or even not, so the bank will bear the burden. The risk of bad debts increases, so it is expected that there will be no major changes."

3. ATM daily withdrawal amount increased to 10,000 yuan
For most cardholders, credit card pre-borrowing cash is no stranger. The new regulations also regulate the pre-borrowing cash business.
Cash advances are divided into three categories: withdrawal, transfer, and top-up. First of all, the extraction means that the cardholder obtains the credit card pre-borrowing cash amount in the form of cash by means of ATM and other self-service machines. The current daily card is 2,000 yuan per card, and the daily accumulative amount per card is not more than RMB 10,000. . The cardholder handles the cash withdrawal business within the credit card limit through the counter, and the amount is agreed by the card issuer and the cardholder through an agreement. The cancellation of this restriction will make it easier for cardholders to "borrow money" from credit cards.
Cash transfer means that the cardholder transfers the funds in the credit card pre-borrowing cash amount to the bank settlement account; For the first time, the Notice allows the cardholder to transfer the credit card pre-borrowing cash amount to the bank settlement account (general savings). Card accounts are settlement accounts), but cannot be transferred to other credit card accounts (credit card compensation services) and other bank settlement and payment accounts. The daily limit per card for cash transfer business through various channels shall be agreed by the card issuer and the cardholder through agreement.

4, the credit card can be recharged Alipay WeChat, interest is calculated according to the current
In terms of cash recharge, the cardholder transfers the funds in the credit card pre-borrowing cash amount to the payment account opened by the non-bank payment institution.
The current policy of top-up is to not allow credit cards to be recharged to a third-party payment account. This change is made by the bank to determine whether the funds allowed for the advance cash amount are transferred to the payment account opened by the non-banking institution. In other words, when the debit card does not have sufficient funds, the credit card will be able to recharge the third-party payment account such as WeChat and Alipay.
However, there are actually assigned paths and limits for top-uping third-party accounts. The central bank stressed that “the cash transfer and cash recharge accounts should be separate accounts for their own bank settlement accounts and their own accounts, and transfer between different credit cards is prohibited.”
However, the reporter also learned that even if a credit card can be used to recharge a third-party payment account such as WeChat or Alipay, the interest of the bank still exists. Moreover, cash advances are not eligible for interest-free repayments, so from the day of withdrawal, the bank will charge interest at a rate of five tenths of a day, and will receive compound interest on a monthly basis.

5, the credit card was stolen, it should be compensated reasonably
The "Notice" emphasizes the authenticity, completeness and traceability of credit card transaction information, and strengthens the cardholder's rights protection mechanism from the aspects of clearing the information disclosure responsibility of the card issuer, improving the transaction processing of the non-person and the compensation for the loss of the cardholder.
The Notice requires the card issuer to disclose the credit card related information to the cardholder in detail and obtain and confirm it by the cardholder. The card issuer needs to adjust the interest rate standard, and must inform the cardholder 45 working days in advance. The cardholder has the right to choose to repay the credit card after the original agreement, and provide the cardholder with more options. .
In addition, the Notice states that if the cardholder proposes a non-authorized transaction such as a fake card transaction or account theft, the card issuer shall promptly guide the cardholder to retain the evidence, handle the error dispute in accordance with the relevant rules, and regularly report to the cardholder. Feedback processing progress.
In the current credit card business, the cardholders' rights and interests are all adopted by the card-issuing banks themselves. In response to the increasingly prominent problem of credit card theft, each card-issuing bank adopts different processing methods, and some have introduced “missing cards”. Guaranteed services, individual banks also launched a fee-based credit card insurance service. For the first time, the "Notice" requires the issuing bank to make reasonable compensation to the cardholder's non-authorized transaction (theft) through commercial insurance and accrual risk compensation funds to protect the cardholder's rights and interests.

6, the card issuer can no longer charge the excess fee
Cardholders usually use a credit card in addition to a fixed amount, and may have a 10% floating amount. If you accidentally "flash" your credit card, you may have to pay an extra fee. This is the excess fee. In other words, each bank can control the maximum amount of credit card spending to 110% of the actual amount, that is, if your credit card limit is 10,000 yuan, then the highest credit card spending is 11,000 yuan, which exceeds the 1,000 yuan bank. A certain percentage of the overrun fee will be charged.
It is understood that at present, CCB, ICBC, Bank of Communications, China Merchants Bank and other banks have implemented temporary exemption, and Industrial Bank has included the excess fee into its own free projects. Everbright Bank has exempted unlimited cards, diamond cards and platinum cards. .
However, after the implementation of the new regulations, this part of the cost will be cancelled. The "Notice" stated that at present, the card issuer has been able to achieve automatic control over the credit line transaction through technical means, and the purpose of covering the cost and risk can be achieved by charging interest on the overdraft part of the overdraft. Therefore, it is decided to prohibit the issuing bank from holding the card. People charge an overrun fee.

7, the fee is collected at one time, not profitable
It is worth noting that the Notice also stipulates that the card issuer shall not collect interest on the service fees, such as liquidated damages and annual fees, cash withdrawal fees, and currency exchange fees, which are charged to the cardholder.
In fact, at present, the interest calculation method of domestic banks is compounded. In the actual calculation process, the minimum repayment amount is calculated by the credit card spending amount, the advance cash amount, the previous unpaid amount and the fee interest, and the late fee fee. The base is the minimum amount of repayments. Therefore, the compound interest generated by service fees such as late fees will also bring snowball-like amazing numbers.
In other words, charges arising from liquidated damages, outstanding annual fees, etc. will be collected in a lump sum in the future, and no further interest can be earned. For example, the credit limit is 10,000 yuan, the annual fee is 100 yuan, and the cash withdrawal fee is 30 yuan. Only the 10,000 yuan within the credit limit can be interest-bearing. The annual fee and the cash withdrawal fee are charged according to the standard, and cannot be combined with the 10,000 yuan quota. Interest bearing. This reduces the cardholder's card cost.

8. The bank decides on its own interest period and minimum repayment
According to the "Bank Card Business Management Measures", the current credit card interest-free repayment period is up to 60 days, and the minimum repayment amount cannot be less than 10% of the current month's overdraft balance. Starting next year, the above two standards will be decided by the issuing bank.
The new regulations remove the restrictions on the interest-free repayment period and the minimum repayment amount. Each bank flexibly determines the interest-free repayment period and the minimum repayment amount according to its own business strategy and cardholder risk. The interest-free period is stipulated by the card issuer itself. Whether the bank will extend the interest-free period or shorten the interest-free period will become a consideration for the cardholders to choose a credit card in the future. In order to strengthen competition, some banks may have long-term interest-free credit card products. On the other hand, the minimum repayment amount can be lower. Although the minimum repayment amount has changed, some banks have already implemented a minimum repayment amount of 5%. This time, the policy is adopted to determine this change.
From the perspective of the issuing bank, it is possible to freely combine the interest-free repayment period and the minimum repayment amount of credit card products to implement a market dislocation competition strategy. Some insiders believe that the actual interest-free period and minimum repayment amount set by the bank next year will still be determined according to the bank's own capital cost and strategy.
For example, even if the two customers hold the same bank's credit card, the minimum repayment amount and the longest interest period may be different, and may even appear, due to their different consumption and repayment status. The minimum repayments and the longest interest-free repayment period currently received by the same customer are not the same as future standards.

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