Why is the credit card locked?

1. The credit card is locked if the password is entered incorrectly

The credit card will be locked if the number of incorrect passwords entered exceeds the limit. Normally, a credit card will be locked if you enter your password incorrectly three times in total.

2 Overdue credit card is locked

Overdue card will have many effects, not only will it affect the credit report, but also if the cardholder's credit card is seriously overdue, the bank may lock the overdue card. Live so that the card holder cannot use it.

3 There is a risk that transactions will be locked

Card holders frequently use POS machines to make large purchases and withdraw large amounts of cash. And you often swipe your credit card, and it is easy to be locked if no real transactions occur.

It must be said that the amount of credit card consumption is very different from the actual price of the product. Repeat transactions and repeated refunds at the same merchant will also be locked. Moreover, if the credit card involves property issues, the credit card may be locked and transactions cannot be performed temporarily.

What is a credit card?

Credit card (English: creditcard), also called credit card. It is a non-cash transaction payment method and a simple credit service.

A credit card is generally a special carrier plastic card with consumer credit that is 85.60 mm long, 53.98 mm wide, and 1 mm thick. It is issued by the bank to individuals and organizations, and can be used to shop, consume, and deposit and withdraw cash from the bank. It is in the form of a card with the name of the issuing bank, validity period, number, cardholder name, etc. printed on the front and a magnetic card on the back. strip, signature strip.

Credit cards are issued to cardholders by banks or credit card companies based on the user's creditworthiness and financial resources. Cardholders do not need to pay cash when using the credit card, and repayment will be made on the billing date (English: billing date).

On April 15, 2016, the central bank issued the "Notice of the People's Bank of China on Matters Related to Credit Card Business", canceling late payment fees on credit cards, introducing liquidated damages, and prohibiting over-limit fees. The new regulations were implemented in January 2017 It will be officially implemented on the 1st.

The debit card is an ordinary savings card. The account attribute is a current deposit account, which can be used for consumption, ATM deposits and withdrawals, etc.; the credit card can be used for consumption, ATM deposits and withdrawals, etc. The biggest advantage is that it can Overdraft (with a certain credit limit)

Generally, bank cards are divided into two types: credit cards and debit cards.

Credit cards are divided into credit cards and quasi-credit cards. A credit card refers to a credit card in which the card-issuing bank gives the cardholder a certain credit limit, and the cardholder can consume within the credit limit first and repay later. A quasi-credit card refers to a credit card in which the cardholder first deposits a certain amount of reserve fund as required by the bank. When the reserve fund is insufficient to pay, the cardholder can overdraw within the credit limit specified by the card-issuing bank.

Debit cards are divided into transfer cards, special cards and stored-value cards according to different functions. Debit cards cannot be overdrawn. Debit cards have the functions of transferring money, depositing and withdrawing cash, and spending money. A special card is a debit card used in a specific area and for special purposes (referring to purposes other than department stores, restaurants, and entertainment industries). It has the functions of transferring funds, depositing and withdrawing cash. A stored-value card is a prepaid wallet-style debit card in which the bank transfers funds to the card for storage at the request of the cardholder and directly deducts funds from the card during transactions.

Why is the credit card frozen?

The reasons why the bank card is frozen may be as follows:

1. The bank card is a credit card (credit card) , if it is frozen, it may be that the credit card has had abnormal transactions, such as malicious cash out, forged information, consecutive incorrect passwords, etc.

2. For bank cards that can be overdrafted, the bank will set an overdraft limit based on the cardholder's actual repayment ability. When the overdraft exceeds the limit, the bank will freeze the bank card.

3. The bank card is a debit card. If it is frozen, one is a wrong account freeze, which means that the bank mistakenly transfers more money to the depositor's account during the transaction, then the bank may transfer the excess money. Partially frozen. One is judicial freezing. According to relevant provisions of the law, judicial authorities can apply to banks to freeze bank cards due to the need to handle cases. At the same time, customs, tax authorities and other departments also have the right to freeze.

4. No matter what bank card it is, if you enter the password incorrectly three times in a row, the bank system will automatically lock the bank card password, which is similar to freezing, but not freezing. It will be automatically lifted after 24 hours.

5. If your bank card expires and you do not apply for a new one, the bank will freeze your expired bank card after expiration.

6. If the bank card is reported as lost several times in a row, the bank considers it to be malicious and freezes the card.

What should I do if the credit card is locked?

What to do if your credit card is locked

Reasons for your credit card being locked:

1. Entering the wrong password more than 3 times when logging in to online banking;

2. There are risky transactions;

3. Failure to repay the loan on time.

Generally, credit cards are locked because you enter the wrong password too many times when withdrawing money or making inquiries. If you enter the wrong password more than three times when logging in to online banking, online banking will temporarily block your bank account. It usually returns to normal the next day, and you can log in by entering the correct password. If your bank card is locked due to too many incorrect password entries when withdrawing money or making inquiries, you can only ask the bank's service staff to reset or retrieve your password.

How to unlock your credit card:

1. Call the credit card customer service hotline and follow the voice prompts to ask customer service to unlock it.

2. I take my credit card to the counter of the same business outlet and ask the salesperson to handle the unlocking procedure. There is no handling fee.

What does a locked credit card mean?

A locked credit card means that the credit card cannot be used temporarily and needs to be unlocked by the user before it can be used. The reasons for being locked include overdue credit card repayments, too many cash outs, incorrect password entry more than three times, account security risks, etc. After being locked, you generally need to find the reasons and then unlock them based on the actual situation.

Try not to cash out when using your credit card on a daily basis, because cashing out is not conducive to increasing the credit limit, and will also reduce the credit limit after being issued by the bank. Usually, don’t withdraw the entire amount at once, so as to avoid being judged as a cash out by the bank.

Credit cards must be repaid on time after daily use. Overdue repayment is not allowed, because overdue repayment will generate penalty interest. The longer the time, the more penalty interest will be incurred. Moreover, after overdue repayment, the bank will upload it to the credit reporting center, causing personal credit reporting to become bad.

In fact, if you cannot repay on time after using your credit card, you can use installment repayment. Different banks provide different installment numbers, and installments can only be processed after the consumption limit meets the bank's requirements. After applying for installment, users can return it in advance, thus saving handling fees.

Why is the Agricultural Bank of China credit card (debit card) locked if it is not overdue?

If the Agricultural Bank of China credit card (debit card) is not overdue but is locked, it may be because:

1. You entered the wrong password when swiping the credit card (debit card) for consumption. Because I entered it incorrectly three times in a row, I was temporarily locked. However, customers only need to contact Agricultural Bank of China customer service to apply for unlocking. After resetting the password, the card will return to normal and they can continue to use it.

2. The Agricultural Bank of China suspects that the person who swiped the credit card (debit card) is not the cardholder himself, and there is a risk of card theft.

3. The customer has bad card usage behavior, such as illegal cash withdrawal operations on the card; or because he always swipes his credit card (debit card) at the same merchant, or he frequently swipes large amounts in large amounts. Credit cards (debit cards), etc., were suspected by the Agricultural Bank of China for cash fraud, so the Agricultural Bank of China implemented risk control.

This ends the introduction on why credit cards are locked and why credit cards are locked. Have you found the information you need?