51 Credit card borrowing interest rate is nearly 36%, 70%of interest is guaranteed, and the capital side is Xishang Bank

Produced ｜ WEMONEY Research Room

Text ｜ Lin Xiaolin

Recently, the 51 credit card released its performance as of the first half of 2022. The announcement shows that in the first half of 2022, the 51 credit card revenue was 260 million yuan, an increase of 24.1%over the same period last year; the net loss was 20.31 million yuan during the period, a narrowing of 89.6%year -on -year; Essence

51 Credit card's revenue composition includes credit matching and service fees, payment service fees, credit card technology service fees, SAAS service fees, etc. 51 Credit Card fully completed the P2P clearance in 2020. The credit matching business has become the largest business, and the financial report in the first half of the year shows that the "loan aid" business has declined significantly. On the other hand, its loan -aid business has been complained by users for charging high service fees.

01 Credit matching business is controversial.

The credit card business of 51 credit card is also controversial. 51 credit card provides relevant guarantee services to improve the credit of the target borrower and promote the successful pairing of it with the investor. Service fees and guarantee fees are charged at the percentage of the loan amount of the matching loan. Total expenses (including service fees and guarantee fees) are charged to the target borrowers monthly on a loan period. 51 Credit Card carried out cash loan business through its 51 -person borrowing products such as 51 people's loan, and users questioned that they had collected too high guarantee fees.

The user of Guangdong, Kobayashi, borrowed 8,000 yuan from human loans in August 2021, with 802.9 yuan per period, a total of 9634.8 yuan in the 12th period, and the repayment interface showed that the interest rate was as high as 35.8%.

Kobayashi said that before the end, he did not know that there was a guarantee fee and consultation fee. Recently, he found that the contract was found to include the high guarantee fee in the interest. Its loan contract shows that the loan is issued by Xishang Bank with a loan interest rate of 8%. In addition to their service contracts and entrusted guarantee contracts, in addition to the need to pay interest, Kobayashi also requires additional guarantee fees and consulting service fees to pay a total of 399.96 yuan and 883.94 yuan, respectively. %.

Not only Kobayashi, many users said that they were also charged high guarantee fees. In January 2022, Mr. Han from Jiangsu borrowed 49,000 yuan from 51 people's loans, and the repayment of 4633.42 yuan per period. A total of 12 issues were paid 55,601 yuan. The overall annualized interest rate of the guarantee fee was 35.8%. Among them, the 12 -phase consultation service fee and guarantee fee were 4370.28 yuan, accounting for 66%of the total interest.

The Wemony Research Office learned that the funds of 51 credit cards are currently in Fangxi Commercial Bank and Changyin Consumer Finance.

Mr. Han said that he has repeatedly negotiated with Xishang Bank to reduce loan interest rates, but Xishang Bank kicked the "leather ball" back to the 51 credit card, and 51 credit cards show that users need to repay on time in accordance with the interest rate stipulated in the contract.

In fact, the hidden fees such as "service fees" and "guarantee fees" have been raised to the cost of borrowing of users, and there have been controversy. According to the "Several Opinions of the Supreme People's Court on Further Strengthening the Work of Financial Trial", the people's court should strictly regulate according to law according to law. Uc -profit, the upper limit of the interest rate of financial institutions gives a 24%annualized regulations, that is, the borrower of the financial loan contract is based on the interest, compound interest, penalties, liquidated damages and other expenses claimed by the lender at the same time. If the request is reduced to the total annual interest rate of 24%of the annual interest rate, it should be supported.

In the black cat complaints, most users' complaints on 51 credit cards and 51 people's loans are concentrated on issues such as "high interest rates, violent collection, disguised fees, and high service fees".

02 Unclear interest rates, loan supermarkets have been questioned that the review is not strict

The WEMONEY Research Office registered a 51 -person lending as a user. After the real -name authentication and living identification and other certifications, they did not obtain the quota.

The WEMONEY research room found that there was no clear annualized interest rate on its loan page.

The central bank previously announced that in order to maintain the order of competition in the loan market and protect the legitimate rights and interests of financial consumers, all loan products should clearly indicate the annualized interest rate of loans. The announcement clearly states that all institutions engaged in loan business are When marketing is carried out, it should show the borrower's annualized interest rate in a clear way.

In addition to the self -operated cash loan business, 51 character loans also have loan supermarkets. If the user does not obtain a 51 -person character loan quota, it can borrow it through other loan products recommended by 51 character loans.

Its loan supermarket products include dozens of borrowing products such as Platinum Silver Loan, Yin Xiangrong, Small Speed ​​Borrowing, and Loan at any time. According to user feedback, 4,000 yuan on the Platinum Bank Loan APP, a total of twelve -phase interest required for only 1437.62 yuan. The user said that in the first three issues, there was a total of 2033.46, which was nearly half of the principal. The actual annualized interest rate was as high as 72%in IRR, far exceeding the previous national statutory red line. Not only that, some users feedback, Platinum Silver Loan induces users to buy a member of 39.9-99 yuan to increase the probability of the next payment. In fact, the membership fee cannot increase the credit, and the membership fee will not be refunded.

In addition to platinum loan, users report that apps such as small -speed borrowing and loan at any time will induce users to open VIP members. After the membership members are opened, these borrowing apps will not pay money. Instead, it is recommended that users download another loan app. Essence It can be seen from the user's feedback that 51 credit cards do not strictly review the recommended borrowing apps.

The loan supermarket does a traffic business. Insiders believe that the diversion business of loan supermarkets also has a "supervision" place with a blank place, and there are certain risks. The Wemony Research Office learned that some loan supermarkets are also linked to other loan supermarkets. Some "black loan supermarkets" cannot inquire about the actual operator behind them, and the operators that can be found do not have the qualifications for lending. There are also some loan products provided by loan supermarkets with high annual interest rates. Some loan products are still "55 super loans", and interest rates are far higher than the statutory red line.

03 The scale of loan aid business has dropped sharply, a year -on -year decrease of 12.1%

The application quota of the WEMONEY Research Office was rejected, and its customer service said that the current 51 credit card is still loan, and it may be that the user's qualifications may not meet the requirements.

According to its customer service, the 51 credit card credit business is normal for loan, but from its financial report, it can be seen that the aid business has fallen sharply.

According to the financial report, in the first half of 2022, the total amount of 51 credit card credit matching business was about RMB 1.562 billion, all of which were cooperative business with financial institutions, a decrease of about 12.1%compared with approximately RMB 1.777 billion in the first half of 2021. Due to the decrease in credit matching business, credit matching and service fees decreased by 43.7%year -on -year. The financial report shows that the credit matching and service charges of the six months ended June 30, 2022 were 76 million yuan, accounting for 29.1%of the total income. Other businesses include payment service fees, SAAS service fees, credit card technology service fees and other income of 134 million yuan, 1.14 million yuan, and 137 million yuan.

The annual report in 2021 shows that throughout the year in 2021, the total amount of credit card matching business of 51 credit cards was approximately RMB 4.317 billion, all of which were business cooperation with financial institutions. In terms of income, the business revenue was 237 million yuan, accounting for 53.9%of its total revenue of 440 million yuan, exceeding the "half" Jiangshan, which exceeded its revenue.

After the Great Qing Dynasty, which completed the P2P business in 2020, the 51 credit card has become a fintech company that mainly focuses on "loan". It can also be seen from the financial report that credit matching services are still the largest business of 51 credit cards.

Compared with several other loan -aid companies, Xinye, Lexin, 360 Division, Xiaoying, Jiayin, and Jiayin in the first half of 2022 were 81.2 billion yuan, 92.3 billion yuan, 197 billion yuan, 22.2 billion yuan, 217, 217 100 million yuan.

Although the 51 credit card is not a purely aid business compared to the above -mentioned loan -aid companies, it is far behind several companies as the main business scale 51.

In the capital market, since the 51 credit card was launched on July 13, 2018, its stock price performance was not satisfactory, and a "cliff -like" decline appeared. It has fallen 44%since this year.

As of the close of the Hong Kong stock market on Thursday 8, the 51 credit card stock price closed at HK $ 0.238 per share. At present, the total market value is only 323 million Hong Kong dollars, which is far from the high point of HK $ 9.5.

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