How many days is the shortest interest-free period for credit cards?

The minimum interest-free period of credit cards stipulated by different banks is different. For example, the longest interest-free period of Bank of Communications credit card is 56 days and the shortest is 25 days.

Credit card source:

The earliest credit card appeared at the end of 19. From 65438 to 1980s, the so-called credit card was developed in British clothing industry, followed by tourism and business departments. However, at that time, the card could only be used for short-term commercial credit, and the money had to be paid back as needed. There was no long-term default and no credit line.

Credit cards are generally plastic cards with a special carrier, with a length of 85.60 mm, a width of 53.98 mm and a thickness of1mm. The name of the card issuer, the expiration date, the number and the name of the cardholder are printed on the front, and the chip, magnetic stripe and signature strip are printed on the back. Cardholders can use credit cards to shop, spend money and deposit and withdraw cash from banks.

It is said that one day in 1950s, Frank McNamara, an American businessman, entertained guests in a restaurant in new york. After eating, he found that he forgot his wallet and had to call his wife to bring cash to the restaurant. He was deeply embarrassed, so McNamara came up with the idea of establishing a credit card company. 1 In the spring of 950, McNamara and his friend Schneider jointly invested110,000 US dollars to set up the Diners Club, the predecessor of Diners Credit Card Company, in new york. Diners' Club provides members with a card that can prove their identity and ability to pay. With this card, members can spend money in 27 designated restaurants without paying cash. This is the earliest credit card. This kind of credit card, which does not need to be handled by a bank, belongs to commercial credit card.

From 65438 to 0952, Franklin National Bank of California, as a financial institution, issued bank credit cards for the first time, becoming the first bank to issue credit cards.

1959, Bank of America issued an American bank card in California. Since then, many banks have joined the ranks of card-issuing banks. In the 1960s, bank credit cards were quickly welcomed by all walks of life and developed rapidly. Credit cards are popular not only in America, but also in Britain, Japan, Canada and European countries. Since 1970s, Hongkong, Taiwan Province, Singapore and Malaysia have also started to handle credit card business.

In the 1960s, credit cards sprouted and developed rapidly in developed countries in Europe and America, such as the United States, Canada and Britain. After more than 50 years of development, credit cards have been widely accepted in more than 95% countries around the world. In 1980s, with the reform and opening up and the development of market economy, credit cards, as electronic and modern consumer financial payment tools, began to enter China, and made great progress in the past decade.

After the financial crisis and the ups and downs of the domestic economy, the credit card market in China picked up on 20 16. By the end of 20 16, the total number of credit cards issued in China has exceeded 590 million. In 20 16, the transaction amount of credit card consumption in China reached 74 1.8 1 trillion, up by 10.75% year-on-year, and the proportion of credit card consumption in the total retail sales of social consumer goods continued to increase.

According to the "20 13-20 17 report on the in-depth investigation and investment strategic planning of China's credit card industry", since 20 10, the China government has implemented a prudent monetary policy and adopted a series of moderate austerity measures to curb the excessive rise of asset prices and control inflation, which shows that macro-prudential and strengthening capital supervision have become the supervision of China's banking industry. The analysis shows that the evolution of the industry structure has further optimized and diversified the product portfolio, and also increased the research and development of new industry standards and mobile payment; Deepen credit penetration; Staging business is developing in depth.

20 12 February, the bank confirmed that the credit card is safer without password, and if it is stolen, it will share the responsibility with the bank. Enjoy an interest-free period of 25-56 days (or 20-50 days). Credit card consumption enjoys an interest-free period, and the bill amount is paid off before the due repayment date, without any cost. There is no interest-free repayment period for cash withdrawal, and five ten thousandths of daily interest will be charged from the date of cash withdrawal, and the bank will also charge a certain percentage of cash withdrawal fee.

China's credit card market is still one of the fastest growing product lines in China's personal financial services market. Although the economic benefits of the industry are full of challenges, the average annual growth rate of credit card issuance in China will remain at around 65,438+04% in the next 65,438+00 years, and the profitability will also tend to improve.

According to the report issued by the People's Payment and Settlement Department of China, as of the third quarter of 20021,there were 798 million credit cards and debit cards, up by 0.97% from the previous month, and each person held 0.57 credit cards and debit cards.