Consumers should have a correct understanding of the function of credit cards, rationally overdraft consumption, not to maintain cards with cards, repay loans with loans, let alone borrow for a long time, and reasonably play the role of consumer loan instruments such as credit cards in supporting consumption
To solve the problem of credit card cash out, in addition to the construction of relevant legal system and the comprehensive prevention and treatment project of bill collection norms, it is more important to strengthen the implementation of credit card supervision
On June 29, the Consumer Protection Bureau of China Banking and Insurance Regulatory Commission issued the No. 4 risk warning in 2020, reminding consumers to correctly understand the function of credit card, use credit card reasonably, establish scientific consumption concept, rational consumption and moderate overdraft.
The CBRC said that in recent years, the credit card business has developed rapidly and has become an important part of the retail business of banks. It has played a positive role in promoting residents consumption and facilitating their lives. However, problems in the use of credit cards have become increasingly prominent.
Recently, a reporter from Legal Daily found that some consumers excessively rely on credit cards for overdraft and are burdened with large amount of credit card loans beyond their repayment ability, and even fall into the situation of repaying loans with loans and maintaining cards with cards, which leads to problems such as tight funds and double repayment pressure; some consumers use credit card loans illegally for real estate, securities, funds and management In non consumption areas such as finance, enlarging the leverage of funds will easily lead to unsustainable personal or household finance, and will bear the corresponding consequences, which will also lead to the accumulation of risks in financial institutions.
Excessive dependence on overdraft consumption
Legal Daily reporter investigation found that some consumers avoid credit card repayment by way of keeping card by card, that is, by handling credit cards of different institutions and using different repayment dates to realize cyclic repayment.
Similar to keeping a card with a card, consumers use the principle of credit card in and out of the bill to postpone the payment of this month to the next month or to postpone indefinitely.
Legal Daily reporter investigation found that there are a large number of online similar how to use 500 yuan to repay 10000 yuan credit card bill posts. Such posts say that as long as the consumer has any income behavior between the payment date and repayment date of the credit card, any payment will be regarded as repayment, and any payment will be included in the next months bill. For example, if you have a credit card that needs to pay back 10000 yuan, but you only have 500 yuan in hand. At this time, you only need to save 500 yuan between the account date and the repayment date, and then use the third-party platform to brush it out. For each operation, the 500 yuan saved will be counted as repayment, and the 500 yuan will be included in the next months bill. You can pay your credit card bill 20 times back and forth.
For such a way of repayment, industry insiders believe that this is a temporary cure rather than a permanent cure. In fact, the credit card debt of 10000 yuan has not been paid off, it is just that the arrears of this month will be postponed to the next month. In addition, cardholders also need to pay a certain service fee to the payment platform, and 10000 yuan is about 75 yuan. .
The risk warning document issued by the Consumer Protection Bureau of the China Banking and Insurance Regulatory Commission also said that consumers should correctly understand the function of credit cards, rationally overdraft consumption, not to maintain cards with cards and repay loans with loans, let alone short-term borrowing and long-term use, and reasonably play the role of consumer loan instruments such as credit cards in supporting consumption.
Spread a variety of cash out methods
Strong concealment, difficult to find
Recently, several commercial banks have adjusted the credit card points rules, and the peoples Bank of China has also solicited opinions from the public on the notice on strengthening the management of payment acceptance terminals and related business (Draft). These adjustments have aroused the attention of the society for credit card cash out.
The so-called credit card cash out means that the cardholder does not withdraw cash through normal legal procedures (ATM or bank counter), but uses other illegal means to cash out the credit line in the card, while not paying the withdrawal fee to the bank.
It is understood that at present, there are a variety of cash out methods circulating in the market, such as using QR code to scan the code to obtain cash for the third-party payment platform, some obtaining cash by swiping POS machines, and using third-party software to consume credit cards and then return them to consumers in cash.
Legal Daily reporter in a credit card arbitrage website learned that consumers can choose their own amount of cash corresponding to the virtual goods, and then according to the requirements of the use of credit card payment. After the transaction is completed, the relevant personnel will transfer the balance after deducting the handling charges to the cashiers by means of cash transfer, etc. In the whole cash out process, consumers did not buy any products in the actual sense.
At the same time, the reporter of Legal Daily noticed that there are many credit card cash out advertisements in the circle of wechat friends. Some people claim that they can use credit cards to get cash, starting at 800 yuan.
Zhang Dan, a Beijing resident (not his real name), has conducted similar transactions. One day, Zhang Dan saw a credit card cash out advertisement in the wechat circle of friends. He was in urgent need of a sum of money, so he expressed his willingness to cash out to the other party. After communication, Zhang Dan scanned the code and paid 2000 yuan to the designated account according to the requirements of the other party, and was immediately told that the current system is wrong and cannot withdraw cash temporarily. The other side tells Zhang Dan, try again in a few days whether cash withdrawal is successful. However, a few days later, when Zhang Dan asked again about the withdrawal, he was told that the merchant had run away and suggested that he call the police.
Legal Daily reporter investigation found that such swindlers generally use the software to add friends in batches to add victims as friends for various reasons, and then release cash out information of various channels through the circle of friends, so as to entice netizens to contact with them with low handling charges and quick withdrawal of cash. In addition, they will publish some screenshots of their successful transactions with customers and customers favorable comments to increase their credibility. When the victim pays, they will find various reasons to delay the withdrawal of cash, or directly blackmail the victim.
An online merchant told the Legal Daily that when they provide customers with credit cards and other means of payment, they need to provide banks or relevant financial institutions with certain handling charges. In order to avoid paying this fee, many businesses are not willing to provide credit card, payment and other means. In addition, for many young people, rent is a big expense, and most landlords accounts are private accounts, which only support cash transactions or transfers. In this case, the credit card can not meet the consumption in some areas, and the service charge for legal withdrawal is relatively high, which leads to people using credit card to cash out.
The interpretation of the Supreme Peoples court and the Supreme Peoples Procuratorate on Several Issues concerning the specific application of law in criminal cases of impairing the management of credit cards, which came into effect on December 1, 2018, clearly states that the use of point of sale terminal machines (POS machines) and other methods to directly pay cash to credit card holders in the form of fictitious transactions, false prices, cash returns, etc. if the circumstances are serious, it shall be in accordance with the provisions of the criminal law According to the provisions of Article 225, the crime of illegal business operation shall be convicted and punished. .
According to Yin Zhentao, director of the financial science and Technology Research Office of the Institute of finance, Chinese Academy of Social Sciences, most people used POS machines to cash out their credit cards. However, as POS machines are the card end of banks, they are easy to find out if they are frequently used. In addition, the handling fees of POS machines are high, so many people use the third-party payment channels such as QR code scanning payment to achieve the same function Yes. In addition, some people also use some design mechanism of credit card to increase the amount of cash out. There are also a lot of people playing the edge of the ball or using the information networking between business platforms to find the loopholes in the credit card mechanism. With the application of new technology, the cash out feature of credit card is more hidden and difficult to be found.
Consumer credit is developing rapidly
The risks should not be ignored
In November 2019, the report on the 95 crowd credit card consumption scenario released by GD bank showed that Internet consumption credit has been rising rapidly in recent years under the influence of the Internet plus new format. Internet consumer financial products launched by major e-commerce companies emerge in an endless stream, such as ant Huabei, Jingdong Baitiao and wayward payment. Because of their low application threshold, simple procedures and convenient use, they are loved by young people who love online shopping, and are the first products of many post-95 trying credit consumption.
With the encouragement of capital and financial technology, Chinas consumer credit market has ushered in explosive development, and various credit institutions tend to take younger generation Z young people who are relatively lack of stable income sources as the object of business expansion.
In the process of using the credit card, the main problem for consumers is that they dont know about the credit card, such as whether to pay the annual fee or not, and the consequences of defaulting on the annual fee. Therefore, when applying for and using credit cards, consumers should fully understand the credit card related information such as the interest calculation and settlement rules, Bill date, annual fee / penalty collection method, etc. In addition, consumers are excessively charged with personal sensitive information, even personal privacy information, when applying for credit cards. Li Aijun, director of the financial innovation and Internet financial legal system research center of China University of political science and law, said in an interview with Legal Daily that when issuing credit cards, there are mainly risk control problems in issuing credit cards, risk tips for consumers and repayment tips.
Yin Zhentao also told the Legal Daily that at present, in the process of using credit cards, the problems of risk and illegal consumption have become increasingly prominent. Especially in some groups of young people, there has been a rapid rise in personal leverage. With the help of keeping a card by card, they pay back money alternately by handling credit cards of various institutions.
Strengthen prevention and comprehensive management
Strengthen supervision and Implementation
Affected by the novel coronavirus pneumonia, credit card business in commercial banks in the first quarter of this year generally experienced a decline in card issuance and transaction volume and an increase in overdue rates.
A number of industry insiders interviewed said that in the short term, credit card loans are still in the period of risk exposure, but both the number of cards issued and the volume of transactions are in the process of steady recovery. At the same time, in response to the impact of the epidemic, many banks have stepped up efforts to promote card consumption and accelerate the recovery of collection capacity.
In fact, banks are more sensitive to risks. Recently, many banks have begun to take measures such as sealing cards and reducing the amount of money to strictly control risks.
Some people in the industry said that at present, the major banks are strengthening the whole process risk control, generally there is no large area or sudden reduction of credit card. However, as one of the normalized risk control measures, banks will regularly adjust the quota of some high-risk customers, implement more prudent new customer access strategy and improve collection efficiency.
For the risk tips on the correct use of credit cards issued by the Consumer Protection Bureau of the CBRC, Li Aijun believes that the main reason is the concentrated outbreak of complaints in the field of credit cards.
Li Aijun specifically analyzed that: first of all, the examination and risk control of the application subject by credit card issuing institutions were mere formality, relying too much on the deterrence of criminal responsibility as risk control means, and did not seriously review the credit status and repayment ability of the applicant; secondly, some card issuing banks unilaterally adjusted the credit line, and did not clearly inform the service charge in advance; thirdly, some card issuing banks were not clear Fourth, some card issuing banks have some problems, such as inadequate performance of informing obligations, non-standard marketing publicity, non-standard card issuing management, and inadequate outsourcing management.
The risk tips are mainly aimed at the two prominent problems of risk consumption and illegal consumption. It is to guide ordinary financial consumers to use credit cards reasonably, including the control of leverage and understanding of the function of credit card itself, that is, it is a function of installment consumption and payment, rather than the function of investment and financing, let alone a function of borrowing. Yin Zhentao said.
A number of bank practitioners said that despite the short-term impact of the epidemic, in recent years, with the deepening and accelerating application of various financial technology means, banks have become more accurate in identifying the risks of individual customers.
The risk warning document issued by the Consumer Protection Bureau of the above-mentioned CBRC also pointed out that if the credit card is in arrears or in arrears with the annual fee, it will generate interest cost and may also affect personal credit reporting. When consumers use credit cards reasonably, they should make good use of personal funds.
In Yin Zhentaos view, the regulatory framework and rules in the field of consumer finance are relatively rich and perfect, and the credit card users are better than other groups in consumption stages. In the whole process of governance, violation of law and prevention is the problem of spear and shield. Although the shield is very strong, spear will also increase its aggressiveness. Yin Zhentao suggested that in order to solve the problem of credit card cash out, in addition to the construction of relevant legal system and the comprehensive prevention and control project of bill collection standard, it is more important to strengthen the implementation of credit card supervision. In the past two years, there have been a lot of fines around credit cards, which is actually increasing the cost of illegal activities, thus restricting the relevant subjects. Of course, in this process, we need to gradually introduce more normative documents or increase punishment according to the new situation and new technology. We can also use window guidance and other means to regulate Yin Zhentao said. Cartography / Li Xiaojun source: Legal Daily Author: Zhao Li, Qin Huamin, responsible editor: Wang Xiaowu_ NF
In Yin Zhentaos view, the regulatory framework and rules in the field of consumer finance are relatively rich and perfect, and the credit card users are better than other groups in consumption stages. In the whole process of governance, violation of law and prevention is the problem of spear and shield. Although the shield is very strong, spear will also increase its aggressiveness.
Yin Zhentao suggested that in order to solve the problem of credit card cash out, in addition to the construction of relevant legal system and the comprehensive prevention and control project of bill collection standard, it is more important to strengthen the implementation of credit card supervision.
In the past two years, there have been a lot of fines around credit cards, which is actually increasing the cost of illegal activities, thus restricting the relevant subjects. Of course, in this process, we need to gradually introduce more normative documents or increase punishment according to the new situation and new technology. We can also use window guidance and other means to regulate Yin Zhentao said.