Pictures of credit card purposes and how to use them

What are the main functions of credit cards?

The main uses of credit cards:

1. Direct consumption function. This is the most basic function of a credit card. Cardholders can use the card instead of cash to settle payments at specially designated merchants marked with the Bank of China Great Wall Credit Card logo, including stores, hotels, restaurants, airports, hospitals and other places.

2. Savings deposit function. The bank calculates the margin and reserve funds of the credit card account according to the prescribed interest rate, and treats them as savings deposits.

3. Transfer settlement function. With the card, cardholders can transfer funds from their own accounts to pay at Bank of China's business facilities.

4. ATM cash withdrawal function. Cardholders can withdraw cash at Bank of China branches and ATM machines in the province.

5. Overdraft function. Cardholders can overdraft, withdraw cash, and use funds within the limit allowed by the card-issuing bank, and overdraft interest will be charged at the same time.

6. Collection and payment function. Cardholders can handle services such as salary payment, phone bill collection, and Jitong Internet access for specific units that have signed a contract with the bank.

Cash withdrawal is an auxiliary use of credit card. Cardholders can withdraw the savings from their credit card accounts at the card issuer's branch counters or ATMs, or they can also borrow cash in advance. In fact, in foreign countries, card issuers do not encourage cardholders to use credit cards to withdraw cash, especially credit cards.

Extended information:

A credit card is generally a special carrier plastic card with a length of 85.60 mm, a width of 53.98 mm, and a thickness of 1 mm. The name of the card issuer, validity period, number, and card holding number are printed on the front. The cardholder's name and other contents are included on the back with a chip, magnetic strip, and signature strip. Cardholders can use their credit cards to shop and spend money with special entities and deposit and withdraw cash from banks.

Credit card consumption is a non-cash transaction payment method. There is no need to pay cash when consumption, and repayment will be made on the billing date (BillingDate).

Credit cards are divided into credit cards and quasi-credit cards. A credit card refers to a credit card in which the cardholder has a certain credit limit and can consume within the credit limit and then repay.

A quasi-credit card refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve as required. When the reserve account balance is insufficient to pay, the card can be overdrawn within the specified credit limit. The so-called credit card generally refers to a credit card only.

Reference: Baidu Encyclopedia-Credit Card

How else can you use a credit card besides swiping it? There are so many uses

Nowadays, more and more people are applying for credit cards for daily expenses. When it comes to the use of credit cards, many people will think of swiping them for consumption. In fact, the use of credit cards is not only swiping. One kind, let’s learn about it together.

1. Scan the QR code to pay:

Credit cards are far less widely used than debit cards. Generally, credit cards can only be used at offline merchants equipped with POS machines.

However, with the rise of scan-code payment, many merchants will also apply Alipay payment codes or WeChat merchant stickers to activate the credit card payment function, and you can also scan the code to pay with a credit card.

2. Cash withdrawal and transfer:

That is, you can withdraw cash from the credit card through an ATM machine, or directly transfer it to your name through the cash advance function of the credit card. In the case of bank cards, although this method can temporarily alleviate the problem of cardholders, it is not cost-effective and will also bring huge repayment pressure to cardholders.

Now when you use a credit card to withdraw cash, you no longer have to pay the minimum monthly payment as before. Instead, you must pay off the cash withdrawal amount + the interest generated + the cash withdrawal fee in one go after the next credit card statement comes out. The only consequence of not having money to repay is overdue.

3. Cash installment:

Although it also involves the cash withdrawal business of credit cards, it is completely different from the second usage.

After applying for cash installment, the money in the credit card limit will also be transferred to the savings card, but it is during the interest-free period. You only need to pay a handling fee for each installment, and the rate is around.

4. Credit loans

For example, China Merchants Bank e-loan, Minshengle Installment, CITIC New Express, etc. are all exclusive cash installment services provided by banks for high-quality credit card holders. The maximum limit is 300,000 yuan, and the maximum installment period is 2 to 3 years. After the application is successful, the money will be transferred to the debit card under your name for repayment in installments.

The biggest advantage over cash installment is that the limit is independent and will not occupy the credit card limit. Remember to keep the consumption voucher after the application is successful.

The role and use of credit cards

Credit cards can help people form good consumption habits and can also help with financial management. Its main functions and uses are as follows.

1. The functions of credit cards:

1. It facilitates people’s lives and eliminates the trouble of carrying cash. There are no geographical restrictions on the use of credit cards, no matter where the card is swiped anywhere in the country. As long as there is a bank logo, you can swipe it, and there is no handling fee;

2. You can participate in various discounts and discounts cooperated by merchants and banks;

3. Spend by swiping your card The points earned can be exchanged for gifts;

4. Timely repayment after swiping the card can improve personal bank credibility.

2. Purposes of credit cards:

1. Shopping.

2. Microcredit.

3. Save money.

4. Save money when shopping.

5. Credit card value-added services, get cheap insurance and travel.

6. Credit certificate.

Credit cards, also called credit cards, are credit certificates issued by commercial banks or credit card companies to consumers with qualified credit. It takes the form of a card with the name of the issuing bank, validity period, number, cardholder name and other contents printed on the front, and a magnetic stripe and signature strip on the back. Consumers holding credit cards can shop or consume at specially appointed commercial service departments, and then the bank will make settlements with merchants and cardholders. Cardholders can overdraft within the prescribed limit.

Credit cards stipulated in the relevant laws of our country ("Interpretation of the Standing Committee of the National People's Congress on Relevant Credit Card Regulations") refer to credit cards issued by commercial banks or other financial institutions with the functions of consumption payment, credit loans, transfer settlement , cash deposit and withdrawal and other full or partial functions of the electronic payment card. On December 1, 2017, the "English Translation and Writing Standards in the Public Service Field" was officially implemented, stipulating that the standard English name of credit cards is CreditCard.

Credit card consumption is a non-cash transaction payment method. There is no need to pay cash when consumption, and repayment will be made on the billing date (BillingDate).

What are the uses and functions of credit cards?

The functions of credit cards:

It facilitates people’s lives and saves the trouble of carrying cash, and there are no Due to geographical restrictions, no matter where in the country the card is swiped, as long as it has the UnionPay logo, it can be swiped without any handling fees;

You can participate in various discounts and discounts organized by merchants and banks;

The points earned by swiping the card can be redeemed for gifts;

Timely repayment after swiping the card can improve personal bank credibility.

Uses of credit cards:

1. Shopping.

2. Microcredit.

3. Save money.

4. Save money when shopping.

5. Credit card value-added services, get cheap insurance and travel.

6. Credit certificate.

Disadvantages of credit cards:

Swiping a card is not like spending money one by one like paying with cash. Spending with a card can easily blur the cardholder's concept of money, leading to blind consumption;

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If the cardholder cannot repay on time, the bank will charge high interest;

Credit cards basically default to password-free payment, which makes it easy to be lost or stolen. Being stolen by others, causing unnecessary trouble or losses;

Long-term malicious debt will naturally affect your personal credit record and even be blacklisted by the bank. If you want to borrow money from the bank to buy a house or a car in the future, you will have to There is a possibility of being rejected by the bank.

Classification of credit cards

(1) According to different card issuers, they can be divided into bank cards and non-bank cards

(1) Bank cards. This is a credit card issued by a bank. Cardholders can shop at the card-issuing bank's special merchants, and can also withdraw cash at any time at any branch of the card-issuing bank or at places with ATMs.

(2) Non-bank card. Such cards can be specifically divided into retail credit cards and travel and entertainment cards. Retail credit cards are credit cards issued by commercial institutions, such as department stores, petroleum companies, etc., which are specially used for shopping in designated stores or refueling at gasoline stations, etc., and are settled regularly.

Travel and entertainment cards are credit cards issued by the service industry, such as airlines, travel companies, etc., used for purchasing tickets, meals, accommodation, entertainment, etc.

(2) According to the different objects of card issuance, it can be divided into corporate cards and personal cards

(1) Corporate cards. Company cards are issued to various industrial and commercial enterprises, scientific research and education institutions, national party and government agencies, military units, groups and other legal entities.

(2) Personal card. Personal cards are issued to urban and rural residents, including workers, cadres, teachers, scientific and technological workers, self-employed households and other adult urban and rural residents with stable sources of income. A personal card is applied for in the name of an individual and he/she bears all responsibilities for using the card.

(3) According to the credit status, status and other credit conditions of the cardholder, it can be divided into ordinary cards and gold cards

(1) Ordinary cards. Ordinary cards are issued to cardholders with average financial strength, credibility and status, and their various requirements are not high.

(2)Gold card. A gold card is a high-end credit card that pays high membership fees and enjoys special benefits. Cards are issued to those with higher credit standing, stronger repayment ability and credit, or those with a certain social status. The authorization limit of the gold card starts from a higher level, and the additional service items and scope are much wider, so the requirements for relevant service fees and security deposits are also relatively high.

(4) According to different repayment methods, credit cards can be divided into credit cards and debit cards

(1) Credit cards. It is a card-issuing bank that provides bank credit. When making a payment, it is first used as an overdraft, and then repaid or paid in installments. Most of these cards are used internationally. That is to say, the way that cardholders are allowed to pay off their credit card accounts without deposits is "spend first, deposit later". Most of the cards currently used internationally are of this type.

Credit card (2) Debit card. It is a credit card issued by a bank that allows you to deposit money first and spend later. When applying for a credit card, cardholders need to deposit a certain amount of money in the card-issuing bank for backup. Cardholders need to use the deposit balance as a basis when using the card. Overdrafts are generally not allowed.

The purpose and use of credit cards

What is the role of credit cards?

1) The most obvious effect is overdraft consumption. Having an overdraft credit limit can relieve urgent needs;

2) Convenient withdrawals 24 hours a day, avoiding the pain of waiting at the counter to withdraw money

3) Some banks have launched preferential measures to waive annual fees for card purchases , debit cards do not have this kind of discount;

4.) Spending points can be exchanged for exquisite gifts;

5.) The longest 56-day interest-free period for consumption (credit card) ;

6.) Can be used as a registration card for personal online banking;

7.) Can be used as a discount card at certain merchants;

8.) Teller machines "Card transfer" is convenient;

9.) Nationally accepted, avoid carrying large amounts of cash;

What are the main uses of credit cards

Benefit 1: It can be used in times of difficulty Borrow cash in advance to solve urgent needs. Benefit 2: You can pay with the card when shopping or at parties, avoiding the inconvenience of getting change. It is still very convenient to sign for consumption. Benefit 3: If you use it well, you can accumulate your personal credit record in the People's Bank of China. Having a good credit record will be helpful for future business with the bank. It can be easier to apply for, such as loans, etc. Benefit 4: You can buy goods in installments and spend tomorrow's money to realize today's dream. Benefit 5: Credit card purchases have points, which can be exchanged for your favorite products, although they are not valuable. Benefit 6: Dual-currency credit cards can support the purchase of goods on foreign websites. While experiencing the benefits, there are also risks. I would like to remind you to pay attention to the details of using a credit card, such as: annual fee, repayment date, confidentiality of card information, etc. I wish you a happy card use

What is the use of a credit card?

1. Consumption in advance, interest-free repayment. The essence of a credit card is to allow consumers to enjoy the benefits of early consumption. Its basic function is to consume first and repay later. As long as the credit card is repaid in time during the interest-free period, you don't have to pay interest, which can help you have more flexible working capital.

2. Avoid the inconvenience of carrying large amounts of funds. The easy portability of credit cards can avoid the inconvenience of carrying large amounts of cash for consumption. If you keep them well, you can reduce the risk of property loss.

3. You can also accumulate personal credit by using a credit card. After using a credit card, you will have a personal credit record in the bank. Maintaining a good credit record will help you with future home loans, car loans, etc.

4. Credit card is a good automatic accounting tool.

Credit card settlement is often accurate to the merchant, so the statement is a very good statement, while the merchant information on debit card statements is generally not so detailed.

5. Using a credit card when shopping is not only safe and convenient, but also provides gift points.

People without financial income, such as students, should not apply for a credit card easily. Even if they do not use the credit card, they still have to bear the annual fee and other items. People who hold credit cards should give up using their credit cards and go through the card refund procedures in a timely manner. Otherwise, various credit card fees and subsequent interest, late payment fees, etc. will lead to personal economic losses and reduced credit, which will affect mortgages, car loans, etc.

CreditCard, also called credit card. It is a non-cash transaction payment method and a simple credit service.

A credit card is a credit certificate issued by a commercial bank or credit card company to consumers with qualified credit. Consumers holding credit cards can shop or consume at specially designated commercial service departments, and then the bank will settle the accounts with merchants and cardholders. Cardholders can overdraft within the prescribed limit.

What is the function of a credit card?

1. Payment and settlement

The payment and settlement function of a credit card can provide a wide range of settlement services to facilitate cardholders’ shopping and consumption. activities, reduce the use of cash currency in society, speed up the circulation of currency, and save social labor.

2. Exchange and transfer

The exchange function of credit card is reflected in the process of business travel, sales, and vacation. Cardholders can use remittances in other places or even foreign countries. Any branch of a member institution of an international credit card organization can realize the transfer of funds.

3. Large-scale purchases

Card issuers, as representatives of all member collectives - all cardholders, must use the market power to gain more powerful bargaining power and obtain more from sellers. More negotiation benefits can be shared with cardholders. For example, institutions such as American Express and Citibank have generally provided cardholders with additional services such as discounts on card purchases and guaranteed lowest prices for card purchases.

4. Personal credit

By using credit cards, cardholders can accumulate personal credit in financial institutions. The accumulation of long-term good credit will bring a lot of high value to cardholders. return. Personal credit will involve all aspects of the cardholder's daily economic life.

5. Credit sales

A credit card is essentially a credit purchase and sale voucher. Its operation mode reflects the support of commercial credit or bank credit. In fact, the credit of today’s credit cards The purchase and sale function has been transformed from the initial commercial credit behavior to bank credit behavior. The credit purchase and sale of credit cards has changed the traditional consumption payment method, expanded the scale of social credit, turned the direct transaction method of paying one hand and delivering the goods into a roundabout transaction, changed the situation in which the actual purchasing power of social currency determines the purchasing behavior of the society, and was ahead of its time. The purchasing power and expanded credit scale will inevitably expand the total social demand. In order to ensure the comprehensive balance of the macro economy, the total social supply must be increased to adapt to the expanded total social demand, thus promoting the development of social economy

What are credit cards used for?

Credit cards have uses:

1. Relieve financial pressure.

2. Owe little or no favors.

3. You can add points to your credit score.

4. You can make reasonable use of rules and activities to receive bank gifts for free. For example, some banks can receive free trolley cases worth thousands of dollars (for new users).

5. Use credit cards rationally to establish good consumption habits.

6. Exchange settlement function. In order to facilitate users to shop and consume overseas.

7. Microfinance function. Use a credit card to apply for a small loan without providing collateral or guarantees.

Extended information:

The main features of credit cards:

1. Spend first and repay later, enjoy the interest-free repayment period, and can repay in installments independently ( There is a minimum repayment amount), and join international credit card organizations such as VISA, MasterCard, JCB, etc. for global use.

2. It is one of the fastest growing financial services today and is an electronic currency that can replace traditional cash circulation within a certain range.

3. It has both payment and credit functions. Cardholders can use it to purchase goods or enjoy services, and can also obtain certain loans from card issuers by using their credit cards.

4. It can simplify the collection procedures and save social labor.

5. It can reduce the use of cash currency.

6. It can provide settlement services to facilitate shopping and consumption and enhance a sense of security.

Baidu Encyclopedia-Credit Card

This is the end of the introduction to the purpose and usage of credit cards and the pictures of credit card usage and usage. I wonder if you have found the information you need. ?