Is Shanghai Xiaoying Card an online loan? What will happen if it is overdue?

Is Shanghai Xiaoying Card an online loan? With the increasing demand for funds, various online loans have gradually become the first choice for people to solve the bottleneck of funds and urgently need money. Among them, Shanghai Xiaoying Card is one of many network platforms, but many people still have many questions about Xiaoying Card. Let's get to know each other.

Is Shanghai Xiaoying Card an online loan?

Xiaoying card loan belongs to online loan. Xiaoying Credit Card is a legal Internet finance company, which was established on 20 16 and headquartered in Shanghai. The company provides convenient loan services, mainly for individual users with good credit. The loan amount is less than 1 000 yuan, and the term varies from 3 months to 1.2 months. It is an online credit card repayment installment service product developed by Xiaoying Technology. Users can repay credit card bills in installments through small win card loans to realize short-term capital turnover.

What will happen to Shanghai Xiaoying Card if it is overdue?

(1) generates penalty interest.

When you are in loans overdue, the interest will be calculated on a daily basis. The longer you stay in loans overdue, the higher the interest. If you don't pay it back this month, you will start to calculate compound interest next month, and the interest will snowball.

(2) the impact on credit

Shanghai Xiaoying Card will receive a credit report at the application meeting, so it will also leave a bad credit record on the credit report after the deadline, which will affect the handling of credit cards and bank loans in the future.

(3) Collection

If you go to loans overdue, you will encounter various collection methods, such as SMS collection, telephone collection and even door-to-door collection, which will make you bored.

The above is about "Is Shanghai Xiaoying Card an online loan?" All of them are briefly introduced here, hoping to help everyone. Want to know more exciting content, you can like to collect us.