Taking China Merchants Bank's credit card as an example, the common reasons for credit card swiping failure are: 1. The credit card is not opened; 2. The transaction password is wrong; 3. The credit card limit is unstable; 4. The available credit card amount is insufficient; 5. The credit card limit is limited. You can log in to credit card online banking and click Card Management-Card Limit Adjustment to make adjustments.

First, the cardholder's personal behavior, the cardholder plays the trick of "others spend their own cards", swipes other people's shopping accounts into their own cards to increase points, and at the same time, the shopper returns the cardholder's cash, which can kill two birds with one stone for the cardholder. Because many banks have launched value-added services while issuing credit cards, they have carried out activities such as exchanging consumption points for gifts to show people's enthusiasm for card consumption.

Second, cardholders cooperate with merchants or some "loan companies" and "intermediary companies", and cardholders get cash by paying fees to merchants. Generally, the merchant's POS machine is used to make false transactions, and the amount on the credit card is crossed out. Merchants or "loan companies" and "intermediary companies" pay cash on the spot (paying cash to cardholders), and the handling fee paid by cardholders to merchants is lower than that of banks.

Credit card and debit card are basically the same, but there are some small differences. When using a credit card, please follow the following methods:

1. When swiping your card, please don't put your credit card away from your sight to avoid misuse or theft;

2. Don't sign a blank or unfilled bill at will;

3. Before signing, please be sure to confirm whether the amount listed in the signed bill is correct, and pay attention to whether the consumption currency and the amount expressed in words and figures are correct;

When using a credit card, you must sign to confirm the consumption. Generally, you don't need to show your ID card or enter your password. However, please cooperate in the following situations:

Due to the operating standards, POS machines in some cities still need to enter passwords. Please enter 6 digits at will. If you spend a lot of money or buy goods that are easy to realize, it is recommended that you enter an accurate ATM private password.

5. When the transaction needs to be rewritten or cancelled due to the wrong signing, please ask the merchant to tear up all the original signing and keep the return voucher given by the merchant to avoid future occurrence;

6. After signing the bill, please confirm that the credit card returned by the salesperson of the special merchant is indeed his own credit card;

7. After the transaction is completed, please keep the root contact of the signing cardholder for checking with the credit card statement sent by the bank.

What is the problem with credit cards that can't be swiped?

Credit card swiping is restricted for two reasons. First, there are many cash-out behaviors, which trigger the bank's risk control system, thus limiting credit card transactions. The other is that there is a risk of theft, triggering the credit card risk control system, in order to ensure the safety of funds and thus limit the use of transactions. If the credit card is restricted from trading, it is actually temporarily frozen. Need to contact the bank to consult the reasons and handle the cancellation.

credit card

Credit cards are divided into credit cards and quasi-credit cards. Credit card refers to a credit card in which the cardholder has a certain credit limit and can spend first and then repay. Quasi-credit card refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund according to the regulations, and when the balance of the reserve fund account is insufficient to pay, it can be overdrawn within the prescribed credit limit. Credit cards generally refer to credit cards.

Credit card fraud

1. Credit cards can easily lead to excessive consumption. This is a common problem for people who are caught in card debt, and swiping the card does not hurt the banknotes, so the consumption of swiping the card is even more unrestrained. Excessive personal credit limit is not evidence of good credit (repayment record is), but the risk in the eyes of financiers, which may push up the loan interest rate.

2. The annual interest rate of credit card is as high as 18%, which is true and can make the borrower lose blood quickly. Credit card debt brings mental stress. Some card slaves report that they are often afraid of opening mailboxes or emails. If the credit is not good, the cost of borrowing money is higher, and even money cannot be borrowed.

3. Credit card provides the option of raising debts by debt and quenching thirst by drinking poison, which leads to debt out of control. The short-term preferential interest rate is not worth the loss in the end. A certain proportion of people will turn emergency financing into long-term debt. Don't be tempted by short-term low interest rates to make unnecessary loans.

4. Excessive personal credit line is not only evidence of good credit (repayment record is), but also a risk in the eyes of financiers, which may push up the loan interest rate.

Prerequisites for applying for a credit card for the first time:

1. The applicant is over 18 years old and has full capacity for civil conduct;

2. The applicant has a stable job and income, and has the ability to repay the credit card arrears on time;

3. The applicant's personal credit status is good.

Applicants who meet the above basic conditions have the opportunity to apply for ordinary credit cards. There are different grades of bank credit cards, which usually include ordinary cards, gold cards and platinum cards. Among them, the universal card is the easiest to handle. If you apply for a credit card with a gold card or above, you generally need the applicant to provide some financial proof materials. If it is the first time to apply for a credit card, my income is not high. I suggest it will be easier to apply for an ordinary card.

Why do credit cards show invalid transactions? There are these reasons.

Many card friends think that credit cards are limited, but they are not necessarily. There are often card friends who have money in their credit cards, but swiping them shows invalid transactions. It is likely that the card status is abnormal, so we must find the reason to solve it. Let's have a look.

Why do credit cards show invalid transactions?

First of all, it is recommended to check whether the cardholder's personal information is wrong, such as the name is empty, the type of certificate is wrong, and the identity validity period has expired. If there is one of these situations, the wrong information must be adjusted in time. You can update your ID card through the online channel of the bank. After the update takes effect successfully, the credit card can be resumed.

If it's not the ID card information, it may be the credit card.

For example, if the card is invalid, if you take an expired card or a card that has been reported lost, swiping the card will definitely show invalid transactions, so you have to swipe the card with normal validity; There is also the degaussing of the credit card, which can't be swiped on the POS. You can try to tie the card or scan the code to pay.

For example, if the card is frozen, or the payment is stopped, and the transaction is restricted, swiping the card will also prompt the invalid transaction. This requires paying off the arrears first and calling the issuing bank to see if the credit card can return to normal. If it can be restored, you can continue to use the card. If you can't recover, you can cancel your credit card. After all, the account exists, even if you can't use the card, you still have to charge an annual fee.

Finally, by the way, credit card cancellation is also very particular, especially the choice of appropriate card cancellation or cancellation. Generally, it is enough to cancel only one card in the same bank, and only one card can be directly cancelled.

Why can't I use a credit card?

The credit card cannot be swiped, which may be caused by the following reasons: the status of the credit card is abnormal, such as card sealing, risk control, freezing, etc. ; Credit cards have a credit card limit, and you can't exceed the limit. Trading merchants are restricted, and users can only swipe their cards at designated merchants. The card is damaged and cannot be read normally. So there are many reasons why credit cards can't be swiped. In case the user can't brush it out, he can contact the customer service of the issuing bank directly, and the customer service will help the user solve the problem in time.

1 Credit card is frozen.

The banking system will monitor credit cards according to their usage. If the credit card is abnormal, the system will freeze the credit card to reduce the loss of the cardholder.

2 There are risks in the transaction

When using a credit card to spend, if the bank detects that the transaction is risky, in order to prevent the risk, the bank will not let the credit card complete the transaction, which will make the credit card unable to spend.

3 trading restrictions

Credit cards have a daily transaction limit. If you swipe your card too many times that day and reach the daily limit of your credit card, then when you swipe your card again, your credit card will not be able to swipe your card.

4 chip damage

Credit cards rely on the chip on the credit card to complete the transaction when conducting credit card transactions. If the chip is accidentally damaged by the credit card, the credit card transaction cannot be completed, and the credit card can only be replaced to continue to be used. Personal credit cards are limited to the daily consumption of cardholders. Credit card overdraft funds (including installment products) can only be used for consumer purposes according to law, and may not be used for real estate (including but not limited to buying houses and parking spaces), production and operation, investment in stocks, bonds, funds, etc. , repayment of loans, credit cards, IOUs, etc. , shall not participate in any illegal financing, lending, gambling and other activities. Previously, banks such as Minsheng, Ping An, CITIC, China Everbright, and Agricultural Bank of China issued announcements one after another to clarify the use of credit card funds, and clearly pointed out that personal credit card overdrafts should be used in the consumer field, and should not be used in non-consumer fields such as production and operation, investment, including housing purchase, securities investment, wealth management, and other equity investments.

This is the end of the introduction about why the credit card is invalid and how the credit card fails. I wonder if you found the information you need from it?