What should I do if my credit card is restricted?
Solutions to credit card restrictions:
1 When using a credit card, if the credit card’s consumption limit on the day exceeds the bank’s requirements or the upper limit set by yourself, Normally, normal use can be resumed after 12pm.
2 If the use of the credit card is restricted due to overdue repayment of the credit card, the user first needs to fulfill the repayment obligations and pay off the overdue balance, and then apply to the bank to lift the restriction and resume normal use of the credit card. Generally, if the overdue situation is serious, the bank will not restore the user's credit card even after fulfilling the repayment obligation. In this case, it often means that the user has been included in the bank's blacklist.
3 If a credit card is restricted due to suspected cash-out, the cardholder needs to provide relevant consumption vouchers to the bank before the restriction can be lifted.
4 If the credit card involves card security issues, the cardholder needs to go to the bank to go through the relevant procedures to lift the restriction. Generally, in this case, the bank wants to avoid credit card theft, and the cardholder must prove to the bank Once the credit card account is safe, the restrictions can be lifted and normal use can be resumed.
What does temporary control of credit cards mean?
"Temporary control of credit cards means that the cardholder cannot temporarily find the card, but cannot be sure whether the card is lost or the card is reported lost by someone other than himself. The practice of controlling cards. ”
1. Swiping cards at POS machines
Swiping cards at POS machines is the most common way to use credit cards, and it is a way of swiping cards online. When swiping a card, the operator should first check the credit card's validity period and cardholder's last name and other information. Then, select the corresponding POS machine according to the card issuing bank and the currency type to be paid, and slide the magnetic stripe of the magnetic stripe credit card on the POS machine, or insert the chip credit card into the card slot, connect to the bank, etc. for payment, and enter the corresponding amount. After the remote payment accepts the information, the POS will print out a receipt for the card payment (at least two copies). The cardholder should sign the receipt after checking that the information on the payment receipt is correct. After the operator checks the signature on the receipt and the signature on the back of the credit card (including that the name completely matches and the handwriting basically matches), the operator gives the credit card and a copy of the card payment receipt to the cardholder. At this point, the card swiping procedure on the POS machine is completed.
2. RFID machine taps the card
Tapping the card on the RFID machine is a new type of credit card usage method, and it is also a networking method. When tapping a card, the operator should first check the credit card's validity period and cardholder's last name and other information. Then, select the corresponding card machine according to the card issuing bank and the currency type to be paid, enter the corresponding amount, and place the credit card flatly no more than 10cm above the sensor. The RFID machine will emit a signal after sensing the credit card, and then continue the operation process. After the remote payment accepts the information, the printer (if connected) will print out a receipt for tap-card payment, but unlike the previous method, the cardholder does not need to sign, such as The previous method is faster and more convenient. At this point, the card sensing program on the RFID machine is completed.
3. Manual order pressing
Manual order pressing is usually used when there is no POS machine or the Internet is not available. The order pressing operation must have a pressure-sensitive copy of the "direct purchase order" (at least two copies) and a telephone number. The inspection work before pressing the order is the same as that of the POS machine. Then, the operator will use the credit card pressing device to print the embossed name and name on the credit card onto the purchase form, and write the amount, date and other information, and then call the acquiring bank's authorization hotline to report the card information and apply for authorization. And write the authorization code obtained on the purchase form, and then the cardholder signs it after confirming it is correct.
Measures for the Supervision and Administration of Credit Card Business of Commercial Banks
Chapter 1 General Provisions Article 1 is to regulate the credit card business of commercial banks, protect the legitimate rights and interests of customers and banks, and promote the healthy and orderly development of credit card business , These Measures are formulated in accordance with the "Banking Supervision Law of the People's Republic of China and the People's Republic of China", the "Law of the People's Republic of China and the People's Republic of China on Commercial Banks", the "Regulations of the People's Republic of China and the People's Republic of China on the Administration of Foreign-funded Banks" and other laws and regulations . Article 2 Commercial banks operating credit card business shall strictly abide by national laws, regulations, rules and relevant policies and regulations, and adhere to the principles of equality, voluntariness and good faith. Article 3 Commercial banks operating credit card business shall protect the legitimate rights and interests of customers and the security of relevant information in accordance with the law. Relevant information shall not be used for purposes other than the Bank's credit card business without the authorization of the customer.
Article 4 Commercial banks operating credit card business shall establish and improve credit card business risk management and internal control systems, strictly implement authorization management, and effectively identify, evaluate, monitor and control business risks. Article 5 When commercial banks operate credit card business, they shall fully disclose relevant information to cardholders, reveal business risks, and establish and improve corresponding complaint handling mechanisms. Article 6 The China Banking Regulatory Commission and its dispatched offices shall supervise and manage the credit card business of commercial banks in accordance with the law. Chapter 2 Definition and Classification Article 7 Credit cards as mentioned in these Measures refer to various media that record cardholder account information, have bank credit limit and overdraft functions, and provide cardholders with relevant banking services. Article 8 The term “credit card business” as mentioned in these Measures refers to the banking services provided by commercial banks using bank cards with credit lines and overdraft functions, which mainly include card issuance business and acquiring business. Article 9 The term “card issuance business” as mentioned in these Measures refers to the relevant banking services that the card-issuing bank contracts with qualified customers to issue credit cards and provides them based on the evaluation results of the customers.
The card issuance business includes marketing and promotion, credit approval, card production and issuance, transaction authorization, transaction processing, transaction monitoring, fund settlement, accounting processing, dispute handling, value-added services and debt collection and other business links. Article 10 The term “card issuing bank” as mentioned in these Measures refers to a commercial bank that has been approved by the China Banking Regulatory Commission to engage in credit card issuance business and assumes the relevant responsibilities for risk management of the card issuance business. Article 11 The term “card-issuing business service agencies” as mentioned in these Measures refers to legal entities or other organizations that sign contracts with card-issuing banks to assist them in providing credit card business services. Article 12 The term “acquiring business” as mentioned in these Measures refers to the services provided by commercial banks to merchants and others to accept credit cards and complete related fund settlements.
The acquiring business includes merchant qualification review, merchant training, acceptance terminal installation and maintenance management, obtaining transaction authorization, processing transaction information, transaction monitoring, fund advances, fund settlement, dispute handling and value-added services and other business links. Article 13 The term “acquiring bank” as mentioned in these Measures refers to a commercial bank that provides credit card acquiring business services to specially appointed merchants or provides settlement services for credit card acquiring business in accordance with the contract, and assumes the relevant responsibilities for risk management of the acquiring business. Article 14 The term “acquiring business service agency” as mentioned in these Measures refers to the legal person institution or other organization that signs a contract with the acquiring bank or the settlement bank of the acquiring business to assist it in providing credit card acquiring business services. Article 15 Credit cards issued by commercial banks are divided into personal cards and corporate cards according to the different objects of issuance. Among them, corporate cards are divided into business travel cards and business purchasing cards according to their uses.
Business travel card refers to a credit card that commercial banks sign contracts with government departments, legal entities or other organizations to establish travel expense reimbursement and repayment relationships, and provide daily business expenses and financial reimbursement services to their staff.
Business purchasing card refers to a credit card that commercial banks sign contracts with government departments, legal entities or other organizations to establish procurement expenditure reimbursement and repayment relationships, and provide them with services related to procurement expenditures such as office supplies and office matters. Article 16 The term “students” as mentioned in these Measures refers to students studying full-time in educational institutions. Chapter 3 Business Access Article 17 When a commercial bank applies to open credit card business, it shall meet the following basic conditions:
(1) The company has good corporate governance, the main prudential supervision indicators comply with the relevant regulations of the China Banking Regulatory Commission, and it has the relevant business requirements Develop appropriate organizational structures and rules and regulations, and have sound and effective internal control, risk management and accountability mechanisms;
(2) Have a good reputation and have a complete and effective internal control mechanism and case prevention and control system. The last 3 There were no major violations of laws or regulations or major malignant cases during the year;
(3) Have directors, senior managers and qualified practitioners who meet the qualifications for office. The senior managers shall have at least one person with professional knowledge and management experience in the credit card business, have the necessary technical personnel and management personnel to carry out the credit card business, and fully implement hierarchical authorization management;
(4) Have Business premises, related facilities and necessary information technology resources that are suitable for business operations;
(5) A business system that complies with laws, regulations and business management requirements has been established within the country, and has the ability to protect relevant business system information Technical capabilities for safety and operation quality;
(6) To open credit card business, one must have foreign exchange settlement and foreign exchange business qualifications approved by the foreign exchange administration department of the State Council and foreign exchange business qualifications (or foreign exchange business qualifications) approved by the China Banking Regulatory Commission Scope);
(7) Meet other prudential conditions prescribed by the China Banking Regulatory Commission.
How to lift the control on the Express Gold Credit Card
First: Apply for decontrol through customer service. If the control can be lifted, it will usually be processed within 2 working days.
If the control cannot be lifted, the bank's credit card center may contact the customer to inform them of the reasons and processing results (which vary from place to place). Of course, if the customer's reservation information is incomplete and the bank cannot notify the cardholder, then You can only apply at the card center counter.
Therefore, I can call the bank’s customer service number to inquire about the reason for the freeze, so that I can take corresponding measures to deal with it.
Second: If you want to use your credit card smoothly, you must repay no less than the minimum payment amount on the final payment date every month.
Otherwise, not only will you be charged late fees, but your personal credit record will also be affected. In serious cases, your account may be frozen by the bank or even your card may be blocked.
Abolish credit card controls! From now on, the bank has the final say
In the future, the use of credit cards and overdraft annual interest rates will no longer be subject to supervision. To simply understand, the bank has the final say!
Recently, the central bank issued major new regulations! Starting from January 1, 2021, controls on the upper and lower limits of bank credit card overdraft interest rates will be officially lifted (the highest annualized interest rate is 18.25%, the lowest lower limit is 12%). The specific interest rate will be agreed upon by the card issuer and the cardholder!
After the cardholder and the bank agree, will the cardholder have the initiative? I remain skeptical about this!
In the past, the annual interest rate of credit card overdrafts has been controlled, with the upper limit not exceeding 18.25% and the lowest limit not less than 12%! If the credit card is overdue, it will be charged separately!
Due to the impact of credit products such as Alipay Huabei, Jiebei, and Tencent Weilidai, banks’ credit card business has been robbed of the cake. However, at the end of last year, Alipay came under strict control. Many people's Huabei and Borrowing quotas plummeted, and some were even closed directly.
Under such circumstances, the central bank's introduction of major new regulations will undoubtedly be a heavy blow to Alipay, which means that banks have more opportunities to regain lost ground. It is not even ruled out that in the future, banks will encourage everyone to overdraft and earn high interest rates.
As we all know, credit card business has always been the main business for banks to make money. In the past, because cash withdrawals required fees and the annual interest rate was not low, many people would not easily cash out their credit cards unless they had a last resort. Compared with credit cards, Alipay, which is flexible, convenient and fast, is becoming more and more popular.
Under such circumstances, the bank’s most profitable credit card business has suffered a huge impact.
At present, the average number of credit card holders in my country is about 0.5, and the total amount to be repaid is about 7.6 trillion. Compared with the United States, there is still a lot of room for improvement. The new regulations introduced by the central bank are undoubtedly intended to further encourage people to use credit cards. However, relying on banks to compete with banks to achieve a reduction in overdraft interest rates, I wonder what the final result will be?
In general, the intention of the central bank's new regulations has been very clear. It hopes that banks will lower the annual overdraft interest rate and encourage people to use credit cards, thereby regaining lost ground. As for whether the annual interest rate for overdrafts will really be reduced, it is still the bank that has the final say.
That’s it for the introduction to credit card control.