Is it illegal to exchange credit card points for cash?

It is not illegal to exchange credit card points for cash. When people use credit cards for spending, they can generally accumulate certain points, which can be used to exchange some gifts, miles and so on. However, it is not illegal to exchange credit card points for cash. Accurately speaking, at present, there is basically no saying that credit card points are exchanged for cash in banks, and the law does not clearly stipulate that this is illegal. Selling credit card points is risky. Selling credit card points is likely to reveal the password of the credit card and risk being stolen. "Credit card points exchange business" was originally a value-added service provided by banks to customers, trading credit card points and making profits from it, which has violated the bank's regulations and users should bear all the consequences.

If users find the preferential activities of exchanging credit card points for cash, they need to pay attention. This is probably a scam, a trap set by swindlers to defraud customers' personal information and steal customers' credit cards.

Therefore, when you encounter text messages or phone calls to exchange credit card points for cash discounts, you must be vigilant and cautious. Don't pay attention to the other party, let alone click on the link sent by the other party, and be careful not to disclose personal information to the other party.

Usually, people must take more precautions when using credit cards, take good care of their credit cards, don't tell others their information, card number and card transaction password at will, and don't swipe their cards at some unknown POS machines.

Credit card function:

1. Points are included in the annual fee.

For some credit cards that need an annual fee, it is the best choice to offset the annual fee with points. For example, the annual fees of high-grade credit cards in some banks can be offset or partially offset by points.

2. Redeem points for gifts

Everyone should be familiar with this. You can find the option of credit card points in official website, the card bank, and see the products that can be redeemed for points and the prices of the products. Of course, the goods of each bank may be different. In addition to physical goods, there will be some commodity coupons and experience coupons. But it is relatively impractical.

3. Point to air mileage

This is very suitable for business users who often need to fly. In fact, it can be understood that air miles are airline points, which can be used to exchange free airline tickets. This means that credit card points can be exchanged for free air tickets.

4. Points draw

Many bank credit card centers have launched points lottery activities. For example, China Merchants Bank credit card can participate in the extraction of iPad Mini in 9 points, but the winning rate is not large.

5. Deduct points for consumption.

You can also go to a designated merchant to exchange gifts. This part of the exchange is provided by the merchant and the merchant has the final say.

There are also points directly deducted from cash consumption, which can only be exchanged in bank cooperative stores, and points can be used as cash to buy things. For example, it can be exchanged in some department stores and Starbucks. But, generally speaking, it depends on the type of credit card. Some credit cards can be exchanged a lot, while others are less.

6. Overall oil change

Some banks will also introduce credit card oil cards, such as CCB Longka automobile card, whose points can be exchanged for oil. You can not only exchange oil, that is to say, you can pay for gasoline, but also exchange tolls. For example, the conversion ratio of oil change for automobile card points is: the part above 50,000 points is 4‰ (that is, the part above 50,000 points is converted into 40 yuan refueling fee per 1 10,000 points), and the part below 50,000 points is 2‰ (that is, 20 yuan refueling fee per 1 10,000 points).

legal ground

Article 196 of the Criminal Law of People's Republic of China (PRC) stipulates that: in any of the following circumstances, if a large amount of credit card fraud is carried out, it shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and shall be fined not less than 20,000 yuan but not more than 200,000 yuan; If the amount is huge or there are other serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than five years but not more than ten years, and shall also be fined not less than 50,000 yuan but not more than 500,000 yuan; If the amount is especially huge or there are other especially serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than 10 years or life imprisonment, and shall also be fined not less than 50,000 yuan but not more than 500,000 yuan or confiscated property:

(1) Using a forged credit card or using a credit card fraudulently obtained with a false identity certificate;

(2) Using an invalid credit card;

3. Fraudulent use of other people's credit cards;

4 malicious overdraft.