The influx of credit cards has changed the consumption concept of young people.
At 1979 Autumn Canton Fair, Bank of China and Bank of East Asia signed a cash withdrawal agreement on behalf of "Dongmei Credit Card" to introduce foreign credit cards to China for the first time. Later, under the proposal of Zhou, a member of the former Zhuhai Branch of China Bank and the credit card preparation team, a feasibility report on vigorously promoting credit cards was formed in Zhuhai.
After the report was handed over to the head office of China Bank, Li Yumin, then vice president of the head office of China Bank, made an evaluation. Li Yumin thinks that the most important link in the development under the background of reform and opening up is to mediate the allocation of market resources, and credit cards are undoubtedly an indispensable financial product in this link. Therefore, with the active promotion of Li Yumin, Bank of China decided to issue its own credit card and approved Zhuhai Branch to pilot it first.
Credit cards began to take root in China market. At first, credit cards were only issued to people with financial strength. If you can hold a credit card, it is a symbol of identity. With the great development of the financial system and the employment driven by the development of various industries, as long as 18 years old or older, you can apply for a credit card of your own.
The consumption concept of young people has completely changed. Young people prefer the mode of spending first and paying later than saving enough money to enjoy the convenience of a certain commodity. There is nothing wrong with the expenses this month and next month. The key to the problem lies in this model, which makes the consumption power of young people constantly leveraged and amplified.
On the repayment date, I found that my salary was not enough to pay the credit card bill. So the bank released the minimum repayment model. Pay 10% of the bill in advance, and the rest can be paid at any time when you have money, and you only need to pay 0.05% more interest every day. It seems that the interest rate is low, but in fact it is very high. Take 10000 yuan as an example, one day is 5 yuan's interest, and if a year is 365 days, it is 1825 yuan. The annual interest rate 18.25% far exceeds the level of 14- 15% protected by national laws.
Attacked by lending products of major financial institutions.
In order to promote consumption and vigorously develop the economy. Various consumer loan products are also constantly pouring out of the market. If you buy an electronic product on 12, the salesperson will recommend a consumer loan product to you. Gitzo won the consumer loan market in China at that time.
There are also consumer finance in China Bank and IOUs in JD.COM. Since these institutions are profitable, it seems that as long as they have sufficient funds, they will release their products for harvesting. Micro-loan, installment music, spending money, paying back money, saving money and borrowing money, all kinds of applications came into being.
Today's young people, as long as they have searched for the word "loan" or used flowers, their behavior will be captured by financial institutions using internet crawler technology, so an overwhelming number of harassing calls came: Hello, I am a staff member of xx financial institutions, and the amount of xx products I gave you is tens of thousands. ...
Some people have no choice but to blame themselves because they owe too much money to financial institutions. Some even feel hopeless to repay and end their precious lives. The fate of these people, who will pay the debts, except parents and children have the obligation to repay, others only have sympathy.
what course to follow
However, on March 2002 1 year1day, the personal bankruptcy law came into effect. After the verified individual goes bankrupt, the debt is cleared. Finally, it's time to save them.