Wang Sicong Credit Card

Why do some people say that really rich people don’t use credit cards?

Rich people like to use credit cards, not that they don’t like them. Many people may think that rich people "have mines at home" and "hundreds of millions in their cards" can still use credit cards? On the contrary, what rich people like to use most is credit cards. Why?

1. There seems to be little difference between credit card consumption and cash consumption, and it is troublesome to repay the credit card. Rich people should not like trouble. However, the actual difference is huge. What's the difference? The difference lies in the repayment time after credit card payment and the time difference between cash payment.

Cash payment can only be made with current funds in bank cards, but fixed-term funds and bank financing cannot. But what about credit cards? Credit cards are banks that give depositors the authority to pay with cash. They can be used directly when making purchases, and there is an account period, which is up to 56 days. Because the consumption time is different, the average account period is one month.

The annualized interest rate of cash bank savings is 0.35, which is 1 million yuan, and the current interest rate for one year is 3,500 yuan. But what about paying by credit card? It is completely possible to subscribe for financial management for 30 days per month, and then repay upon maturity. For banks' 30-day financial management, the annualized interest rate generally exceeds 3.5, which means that the total amount of financial management in one year reaches 1 million yuan, and the interest is 35,000 yuan, which is 10 times the interest income of current cash savings.

So, in this case, the interest differential that exists is clear. As a rich man, of course he would not let this opportunity pass him by.

2. Rich people also use credit cards. As the richest man, Comrade Jack Ma wanted to sit in a bar when he was on a business trip in Chongqing. However, the final payment method was not paid by the waiter through Alipay, but by credit card. As the richest man, he also knows how to use credit cards.

So, it’s not that rich people don’t use credit cards, but they like to use credit cards very much.

Who says really rich people don’t use credit cards?

Let’s first look at the real experience of China’s richest man, Jack Ma, who does not use Alipay but uses credit cards to make purchases.

At the beginning of this year, Jack Ma went to Chongqing to attend an event. When he was bored at night, he went to a bar in Chongqing to relax. When checking out, everyone was surprised to find that Jack Ma did not use Alipay recommended by the store. Instead of paying, use a credit card to make purchases.

So rich people who don’t use credit cards are directly slapped in the face by Jack Ma!

In fact, there are many wealthy people who use credit cards. They use credit cards not for the limit, but for the rights and functions of the credit card.

In the eyes of ordinary people, everyone attaches great importance to the credit card limit. The larger the limit, the greater the space that can be used. However, in the eyes of those rich people, the credit card limit is just a number. They value it. What matters is not the limit of the credit card, but the rights and status symbols inside.

The credit cards issued by banks to wealthy people are not like the gold cards or small platinum cards we ordinary people have. Those who are worth millions, tens of millions, or even tens of billions, all they get are diamonds. Platinum Card or Centurion Black Gold Card, the benefits of these credit cards far exceed our imagination.

Taking a simple example of the Diamond Platinum Card, some of its benefits include the following:

The benefits of the Centurion Black Gold Card are even more incredible. But a real status symbol.

The Centurion Black Gold Card is known as the King of Credit Cards, but it can provide cardholders with the world’s top private services. It claims to be nothing you can’t think of and it can’t do anything.

There was once a Centurion Black Gold Card member who was driving in the inaccessible hinterland of the Sahara Desert. Unfortunately, he ran out of gasoline, and the car rental company refused to rescue him. Finally, the Moroccan military dispatched a helicopter to rescue him. Save the desert. It sounds like a fantasy, but it is indeed achievable for Centurion Black Gold Card members.

The Centurion Black Gold Card explains it well: real wealth is a way of life or way of thinking, not the numbers in a bank account. As long as you take out the Black Gold Card, it will be conveyed "You're not just a normal person" signal.

So even rich people from all walks of life want to have such a credit card. Even a rich second generation like the principal will post on Weibo to find out the whereabouts of his Centurion Black Gold Card.

So after I have imparted this knowledge to you today, don’t make jokes about real rich people not using credit cards again.

People who can express this view either don’t understand credit cards or don’t understand rich people.

Let’s talk about the rich first. Jack Ma, Wang Sicong and others are considered rich. Jack Ma goes to bars to spend money and still uses credit cards. Wang Sicong’s lost wallet was filled with all kinds of black bank cards. And he also revealed that he holds some kind of high-end credit card.

Let’s talk about credit cards. The most stable part of most banks’ intermediary business income comes from the annual fees of high-end cardholders. All banks attach great importance to this aspect. Existing users of platinum cards with rigid annual fees and annual fees The number of new users is the most important part of the KPI assessment of various card centers. If there are a large number of high-end cards issued in a certain area, the card center will negotiate cooperation with selected high-quality local merchants to serve these high-end cardholders. Because these people are the backbone of credit card users.

In fact, the richer people are, the better they are at settling accounts. As a financial management tool, credit cards are very competent and efficient. Although many high-end platinum cards charge annual fees of several thousand yuan, the services they include are exactly what many wealthy people need. These services are very expensive if purchased separately. However, the cost is very low through banks purchasing equity in bulk and then distributing it to their high-quality customers.

To put it simply, a credit card with an annual fee of about 3,000 yuan usually contains more than 8,000 yuan worth of benefits. However, these benefits and services are not available to ordinary people, and only those with money can use them. Talent will need these.

The person who said this actually does not really understand all the functions of credit cards.

For most ordinary people, the role of credit cards is to solve financial problems. For wealthy people, credit cards serve more as a status symbol. Rich people may not take the initiative to go to the bank to apply, but banks will take the initiative to come to invite these rich people to apply.

The rights and benefits of credit cards for wealthy people are also very different from those of ordinary people.

A brief introduction to the Centurion Black Gold Card.

This is a credit card issued by American Express and can be called the top credit card. In China, only Industrial and Commercial Bank of China, Minsheng Bank of China, and China Merchants Bank can handle this. Black gold cards issued abroad have no limit, while those issued domestically are generally within 10 million. To be eligible to apply, you must have an average annual bank deposit of at least 20 million yuan.

Its rights are incredible. The Centurion Black Gold Card provides cardholders with private jet services. Personal escorts at more than 300 airports around the world, assisting with quick boarding, quick customs clearance, etc. Legal aid, private doctors, and travel consultation are on call.

Summary:

The functions of credit cards are broadly divided into overdraft functions and rights services. For most people, when using a credit card, they are more likely to use its overdraft function. For wealthy people, the overdraft function of funds is no longer secondary. What they really value is the noble experience of credit cards.

Bank research monk, if you study, I will study too!

This makes sense! Since I obtained my first credit card with a limit of 10,000 in my life in 2000 through internal connections within the bank, I have indeed found that having a credit card is very convenient. My financial situation was not very good at that time, so I often used credit cards to make purchases or even withdraw cash. Later, I applied for several credit cards. By 2010, I already owned three platinum cards with a limit of more than 50,000 yuan and six ordinary cards with a limit of less than 10,000 yuan.

At that time, it was very inconvenient to repay credit cards. You had to go to the counter of your respective bank to repay the money. Even so, I always felt that credit cards had some use!

In 2010, I spent 100,000 yuan in one go in Hong Kong and bought back multiple iPhone 4 phones, IPADs, and an Apple all-in-one computer. At the same time, I still haven’t returned a Blu-ray disc player. When I was spending money, I found that swiping my credit card was very difficult and it felt like I was spending other people’s money. But afterwards, I asked the company’s finance department to calculate for me the accumulated interest on these credit cards, cash withdrawal fees, late payment interest, and the interest rollover. This time I was shocked! I understand that there is no free lunch in the world!

In 2011, I ended my single life and married a beautiful woman. In order to express my pure love, I paid off all the money in eight credit cards and canceled them all. At the same time, I gave all my bank cards to my wife, and accompanied her to go to banks one after another to put all the money in my cards. I took out the money, transferred it to the bank card in her name, and then canceled all my own bank cards one by one, leaving only my personal salary card.

Now we as husband and wife live without credit cards, and we don’t have to worry about repayment reminders! Anyway, the bank card is directly bound to WeChat! Every time I go on a business trip, my wife always puts 1,000 yuan in cash in my wallet and puts it in a bank card, but every time, I get it back almost without moving! I am not a rich man, but credit cards do seem to have nothing to do with me. I also believe that now that mobile payment is so convenient, who with money is willing to get a credit card? It is troublesome to borrow money and repay it!

Why do some people say that really rich people don’t use credit cards?

Answer: Who says rich people don’t use credit cards? Is Jack Ma rich? He doesn't use Alipay when making purchases outside, he only uses credit cards. Jack Ma has three credit cards, each with a credit limit of 2 million.

What I want to tell you is that rich people all have credit cards, while some poor people have credit cards and some don’t. However, after the poor have credit cards, they cannot make ends meet because they do not have the ability to make money, and they end up becoming illegal; there are also some The poor don't dare to apply for a credit card at all. They are afraid of not being able to pay back, so they are called white households.

Why do rich people have credit cards? Because all rich people will go to banks. As the saying goes, poor people deposit money and rich people take loans. Which rich person can leave the bank? No one can live without it. If you have never borrowed money from a bank or applied for a credit card, in the eyes of the bank you are a white account, and the bank will not dare to deal with a white account.

There are two key words in the question: rich people! What we need to understand is, what is the standard for a truly wealthy person? Searching for rich people (that is, rich people) on Baidu refers to some very wealthy people. Rich people are wealthy people with total personal assets between RMB 50 million and RMB 1 billion and a stable annual income of more than RMB 1 million. If according to such standards, Lao Guo does not think this question is correct. Because most of the "rich people" around Lao Guo are using credit cards!

Some people may say that those who have some money, those rich people have money, they can just use their own debit cards to spend, or they can use cash. Of course, mobile payment is very convenient now. Anyway, if you have money, what credit card should you use?

But in fact, what we need to understand is that credit card is a kind of "credit consumption", that is, the process of consuming in advance, consuming today and paying back tomorrow. At first, or even now, do you still remember that there is a threshold for applying for a credit card? Most of the people who can apply are either rich people, white-collar workers, or people with certain assets. And it is precisely because most people who are poor, have no fixed income, and no assets, cannot apply for a credit card. Therefore, in essence, credit cards are actually for “rich people” to use. Of course, now that everyone is generally affluent, credit card competition is also fierce, and most people are qualified to use credit cards;

In addition, when we are still considering the annual fee for credit cards, will we find that, Have you ever used a diamond credit card or a credit card that charges a high annual fee? So, who is using these? No doubt many wealthy people use it.

The credit cards they use have VIP waiting seats at the airport, dedicated services at 4S stores, and VIP areas at banks? You will find that rich people also use credit cards, and they may use credit cards with annual fees, high-end credit cards!

In fact, rich people are more likely to use credit cards.

The starting point of using a credit card is necessity, and it has nothing to do with whether you have money.

Credit cards are derivatives of the advanced consumption consciousness of Western countries, giving people the opportunity to spend the income of the next month or even the next month in the current month. So this has become a magic weapon for people who “never have enough money”. But for people who know how to spend money and manage money, their monthly expenses are relatively fixed. Not only can they not use up the money, but they can also save money. In this case, why should they borrow money from others?

I never use credit cards, and not many of my relatives and friends use credit cards. Those who are rich really don’t use credit cards, and those who are poor are more frugal and dare not borrow money to spend. However, the craziest credit card user among my classmates is a rich man. He has opened credit cards from many banks since college. Ten years after graduation, he is now married and starting a business, working as the vice president of his father's company, but he still has a credit card. consumption habits. Although the company has a market value of hundreds of millions, and he and his wife each own a BMW 5 Series, his monthly income is more important to his wife, and he is embarrassed to always ask his father for money, so he relies on credit cards for some purchases. When I really couldn't afford it, I quietly asked my mother to order more subsidies at once to pay back the money.

At present, the main users of credit cards are those born in the 1990s. There are very few children of this generation who have experienced hardship since childhood. Their spending power is already relatively strong when they have no income during school. When they enter society, they have Consumption becomes stronger after income, so the money is still not enough. It is very common to spend next month's money. If you don't apply for a credit card, you can still spend it by borrowing money or something like that. If this were not the case, campus loans would not take advantage of the situation, and so many college students would not be deceived. This is all a chain reaction caused by vanity and advanced consumption consciousness. If a person can sell his kidney to exchange for a mobile phone, borrowing money to spend it is not a normal psychology.

This cannot be generalized. Many wealthy people also use credit cards. For example, I saw news online that Jack Ma used credit cards to spend more than 1,000 yuan in a bar. Wang Sicong also used credit cards to make purchases. Can you say that they Not a real rich person?

I personally think that whether or not to use a credit card has a lot to do with personal consumption habits and financial awareness. Of course, personal economic status also affects the use of credit cards. From these two points, the frequency of credit card use The highest may be the following three types of people:

1. Rich people with strong financial management concepts:

People often say that the richer people are, the more stingy they are. Here The "stingy" thing he said can be understood as his very strong sense of financial management, and he hopes to make good use of every coin. Since there is an interest-free period of more than one month when using a credit card, how can these "stingy" rich people let it go? This opportunity to earn interest?

Rich people in the business world usually spend a lot of money, from top to bottom, from inside to outside. If they all use famous brands, it would be conservatively estimated to be tens or millions, plus the usual For entertainment consumption, if all these are paid with a credit card, it is equivalent to a million dollars for more than a month, and there is also a lot of interest. Therefore, for wealthy people who usually make large purchases, the benefits of using credit cards are obvious. of!

2. Card slaves of the moonlight tribe:

Because there is an interest-free period on credit cards, this is great news for the moonlight tribe. If this month’s salary has not reached the middle of the month, No more, then credit card swiping is a good choice. There are also many card swiping masters who use this interest-free period to "use their cards to maintain their cards" to earn a lot of interest income. However, if they are not operated properly, they can easily become "card slaves" , after all, "ten carrots and nine pits" is not that fun!

3. Practitioners in the financial industry:

Practitioners in the financial industry have a relatively strong concept of financial management, and more people use credit cards, so they will not be resistant to credit cards.

The above personal opinions are for reference only, everyone is welcome to leave a message for discussion!

What is the black card that Wang Sicong lost?

The American Express Centurion Black Gold Card is the "Centurion Card" launched by American Express in the UK in 1999[1] The black gold (highest) level version of "Long Series Debit Card" is also called the "black card" because the main color of the card surface is black. The Centurion Black Gold Card is recognized as the "King of Cards" in the world. This card is positioned at the top group and has no limit limit (the Centurion Black Gold Card in China is a cooperatively issued credit card, so there is a limit limit, and the credit limit is 2 to 10 million). Most of the cardholders are political figures, billionaires and celebrities from various countries and are invited by American Express. Card applications are not accepted. Cardholders can enjoy the world's top member-exclusive benefits, rights and services.

Which other celebrities in China have the black card that Wang Sicong once owned?

What is a black card? The editor below will give you a detailed introduction: A black card is a card similar to a credit card but more advanced than a credit card. People who own a black card represent extremely high status and financial strength. G-Dragon, the captain of the Korean boy band Big Bang, has a black card. So in China, which celebrities also have black cards?

It is said that there are only four celebrities with black cards in China. Who are they distributed among? The editor below will take you to reveal the secret.

Black card owner: Tony Leung

An employee who had worked at a five-star hotel for three years broke the news that Tony Leung was the most cordial celebrity she had ever received. Moreover, Tony Leung’s credit card is a metal black card from American Express. This kind of credit card is the kind that can be swiped directly. That day, Tony Leung left for more than ten minutes after checking out. Suddenly he called and said that there was still an unsettled bill. Before leaving, he took a bottle of Evian mineral water from the refrigerator in the room and said that we could charge it directly to his credit card. Take the money.

Chinese black card holder: Lan Xinmei

Taiwanese artist Lan Xinmei has been in business for more than 30 years and has a wide network of contacts. She has traveled across business circles and accumulated rich connections. A few years ago, Lan Xinmei showed off her black card in the variety show "The Biggest Woman" and said it was this year's Christmas gift.

China Black Card Holder: Wang Sicong

Wanda’s son Wang Sicong also had a black card, but he lost it in 2015?

China Black Card Card holder: Zheng Shuang

In March this year, mainland girl Zheng Shuang posted a black card on Weibo. Her black card has a fixed limit of 50,000 yuan and monthly The temporary quota is 950,000 yuan (or equivalent in US dollars) until March 2022.

How can I have a black card?

Banks have extremely strict requirements for black gold card holders. It is understood that ICBC black card holders must be members of the Hurun Wealth Ranking or members of the Hong Kong Jockey Club, and their annual consumption must be more than 2 million yuan. However, even if you meet these basic conditions, you may not be able to become a black card holder, because you cannot apply for a black card on your own initiative. You must have a letter of recommendation from the branch president or above to be approved, which is very private.

That’s it for the introduction of Wang Sicong’s credit card.