Author: Peng Yan

In recent years, the credit card business has developed rapidly, but the problems in the use of credit cards have become increasingly prominent.

Recently, the "Securities Daily" reporter visited and found that many intermediaries claimed that they could apply for credit cards and withdraw cash in full, and POS machines used credit cards to withdraw cash. However, although credit card cashing is convenient, it is not necessarily cheap, and it also hides the risks of funds and credit information.

At the same time, since the beginning of this year, the CBRC and a number of banks have standardized the management of credit card business, emphasizing the use of credit cards.

Hidden risks behind credit card cashing

In terms of credit card business, many banks not only frequently announce to regulate the use of cardholders' funds, but also regulate the adjustment of credit card-related businesses. These adjustments have aroused people's concern about credit cards.

The reporter entered the keyword credit card cashing in Baidu search bar, and there were as many as 28.7 million search items. Except for some cases of credit card cashing, most of them recommend credit card cashing software and cashing strategy.

The so-called cash-out, that is, the cardholder uses the credit card POS machine to make false transactions, and then pays a certain fee to get back the cash from the merchant.

It is understood that there are a variety of credit card cashing methods in the market at present, including using QR code scanning code to obtain cash from a third-party payment platform, and the machine that swipes POS to obtain cash also uses third-party software to consume credit cards and then returns them to consumers in cash. There are also some small cigarette shops, building materials companies, wholesale markets, building materials companies, wholesale markets and so on. According to the business type, the interest rate is generally between 1.5%-3%.

The Securities Daily reporter contacted an intermediary company that cashed in credit cards. According to the other party's introduction, the holder cashes out through the payer's handling fee. Normal use of merchant POS machines to conduct false transactions and transfer the amount on credit cards. The merchant will pay the balance after deducting the handling fee to the cardholder in cash on the spot. Generally, 1.5%-3% is charged as the handling fee. Taking 500,000 yuan as an example, the maximum demand is 1.5 million yuan.

The reporter learned that under normal circumstances, credit card holders can withdraw cash, but the general withdrawal amount is limited, and they also need to pay a handling fee according to a certain proportion of the withdrawal amount, and pay a certain interest every day. Cash withdrawal through illegal means such as false consumption and trading can greatly exceed the normal cash withdrawal amount, which also makes some people smell business opportunities.

In fact, for individuals, credit card cashing is convenient, but it is not necessarily cheap, and cashing may also affect personal credit information. Therefore, the hidden risks behind illegal cashing of credit cards cannot be ignored.

Suppose the cardholder wants to cash out 300 thousand. According to the 2% handling fee, the handling fee for cashing out once is 6000 yuan. If the bank uses 30-day interest-free, it will withdraw 300,000 yuan each year by raising a card, and it needs to repay 1 1 before withdrawing money. Then, only one credit card needs to pay 1 1 handling fee, which is about 66,000 yuan, equivalent to 22% of the cash amount.

In addition, according to the "Securities Daily" reporter, some cash funds have also been used for restricted areas such as house purchase and wealth management, which has obviously increased the risk of funds.

Banking industry insiders said that, in fact, cash outflow is not only a risk point of banks, but also may have a negative impact on individuals. The banking system will monitor the credit card data and verify it under abnormal circumstances. Once the cash outflow is confirmed, measures will be taken. Therefore, for cardholders, even if cash outflow can ensure timely and full repayment, banks will reduce or stop handling cards and incorporate them into the personal credit information system of the People's Bank of China.

Strengthen supervision and implementation

Since the beginning of this year, the credit card issuance and transaction volume of commercial banks have generally declined, or even experienced negative growth. At the same time, the number of bad credit cards and overdue credit cards continues to rise.

According to the report of the central bank, by the end of September, the overdue amount of credit cards of major banks in China had reached 78.233 billion yuan, and the total interest and liquidated damages generated by overdue amount exceeded 92 billion yuan.

Recently, CBRC and many banks are standardizing the management of credit card business. The "Securities Daily" reporter pointed out that in addition to emphasizing the use of credit cards, bank credit card centers are also strictly investigating illegal transactions such as cashing.

A number of bank credit card centers issued the Announcement on Further Clarifying the Use of Credit Card Funds, clarifying that personal credit cards and credit card funds are limited to the daily real consumption of cardholders. Credit card funds cannot be used in non-consumption areas such as production and operation, fixed assets investment and equity investment, including forbidden areas such as house purchase, securities investment, wealth management and other equity investment. If the credit card funds are used in non-consumption areas or the transaction is untrue, which may lead to the failure of the transaction, one or more risk management measures will be taken, including but not limited to reducing, stopping payment, freezing, early settlement, deduction/claim for return of rights and interests, value-added services, etc.

In addition, banks have also begun to use credit cards to seal cards and reduce quotas to strictly control risks. Recently, some credit card holders laughed at reporters and said that they had recently received short messages from banks, including state-owned banks and joint-stock banks, requesting to reduce the quota.

At the same time, in recent years, the China Banking Regulatory Commission has also strengthened its supervision over the credit card business. In June this year, the China Banking Regulatory Commission issued the Notice on Rectifying the Market Chaos in the Banking Insurance Sector, warning that the bank's credit card business funds were poorly controlled and illegally flowed to the non-consumer sector.