Take China Merchants Bank credit card consumption abroad as an example. The clearing exchange rate for overseas transactions of credit cards is generally the exchange rate on the processing day of the international organization system, which is usually the exchange rate on the day before the' billing date' in the bill, subject to the records of the international organization system.
1. Measures for the administration of credit card business: 1. Credit cards issued by overseas institutions and used in China shall not be less than 4% of the transaction amount.
Domestic banks sign credit card agency acquiring agreements with overseas institutions, and the profit distribution ratio is implemented according to the fact that domestic banks and overseas institutions account for 37.5% and 62.5% of the handling fees paid by special units respectively.
2. The credit card issued by the issuing bank shall meet the safety management requirements, and the card and password shall be delivered separately and the cardholder shall be prompted to collect them. When issuing a credit card, the cardholder shall be informed in writing of the date of the credit card bill, the credit card regulations and the instructions for safe use of the card. The issuing bank shall establish the operating rules for credit card activation, and check the identity information of credit card holders before activation. A credit card whose applicant has not signed a contract (agreement) and whose identity has not been confirmed by the activation procedure shall not be activated.
3. Newly issued credit cards, lost cards, damaged cards and expired cards must be activated before cardholders can use them. The credit card is not activated by the cardholder, and no fees may be charged.
2. How long does it take to make a credit report? Within three days overdue: all banks will provide time-sensitive services for cardholders, and repayment within three days overdue is regarded as timely repayment. But in fact, the implementation of each bank is different. For example, the Agricultural Bank can only postpone repayment for two days, while the Construction Bank can automatically postpone repayment for five days. If you are not sure, you can call the customer service phone of the bank for consultation. As long as you repay within the grace period, it will not be included in the credit report and will not be deducted.
Overdue for more than three days: it will basically be included in the central bank's credit information system, and the bank will charge a late fee according to the standard, and charge a penalty interest at the daily interest rate of five ten thousandths. However, because the overdue time is relatively short, the impact on applying for loans or handling credit cards in the future is not so great.
Overdue for more than 90 days or accumulated for more than 6 times: your credit history will be seriously affected, and you will be added to the blacklist of financial institutions. You can't apply for loans and credit cards, and even traffic will be affected.
I used China Bank credit card to spend money at UnionPay POS abroad. How to calculate the exchange rate?
After your credit card application is approved, China Bank will set a monthly billing date for you to count the total transaction amount in the last billing cycle. After your credit card application is approved, we will determine the monthly bill for you. 20 days after the bill date is the due repayment date, and you should repay before the due repayment date. Pay off all the outstanding amount before the due repayment date, and you can enjoy the interest-free consumption transaction of the previous cycle (excluding cash withdrawal).
Example: Mr. Zhong's bookkeeping date is 10 day per month, and the due repayment date is 30 days per month. The bill received by Mr. Zhong on June 10 included all his transactions from May1day to June 10. Bill settlement is based on the actual transaction posting time.
The above contents are for your reference. Please refer to the actual business regulations.
What is the exchange rate conversion of BOC credit card overseas non-UnionPay channels?
Introduction of exchange rate conversion of credit card overseas non-UnionPay channels;
For example, suppose you use our credit card to generate euro transactions overseas through non-UnionPay channels.
1. If the global currency and single RMB settlement function are not enabled on your card, the operation of converting the euro transaction into the currency corresponding to your credit card account is completed by the international organization, and the exchange rate is generally the exchange rate on the day or the next day of your trading day. Because international organizations use real-time exchange rate, it will be different from the reference exchange rate. See VISA/MasterCard/JCB official website for details.
2. If the global currency bill RMB settlement function is enabled on your card: First, the operation of converting the euro transaction into the currency corresponding to your credit card account is completed by an international organization, and the exchange rate is generally the exchange rate on the day or the next day of your trading day. Because international organizations use real-time exchange rate, it will be different from the reference exchange rate. See VISA/MasterCard/JCB official website for details. After that, we will convert the currency converted by international organizations (that is, the currency corresponding to your credit card account) into RMB, and the exchange rate will be the cash selling price of our bank when the transaction is recorded. Please refer to the exchange rate published by our bank in official website for details.
The above contents are for your reference. Please refer to the actual business regulations.
How to calculate the unrecorded exchange rate of credit cards
The exchange rate of credit card swiping is an integer multiple of 6 digits that must be entered for overseas pos swiping. For example, if you spend 1 1,000 yuan overseas, but the number of times can be paid by Meituan and credited to my credit card account, then you can enjoy the highest exchange rate of 1 1,000,000 yuan. If you can shop and spend in China within the agreed time period, you need to propose a temporary quota to our customer service one day in advance, and we will calculate whether you can open the dual-currency function of overseas credit card spending according to your actual situation. At the same time, in view of the need to charge a certain transaction fee for the exchange rate of overseas card swiping, it is recommended that you do not enter this consumption at one time and pay interest when using the card overseas.
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The exchange rate of credit card is a "one-time calculation" method of your consumption, that is, after the bill date, according to the repayment date of each period, according to the total amount of each statement. If the minimum repayment amount is selected, interest will be charged on the transaction part according to the total cost of your credit card consumption.
Is there a handling fee for using ICBC's visa credit card overseas? How to calculate?
If the card you hold is a UnionPay single-currency credit card or a dual-currency credit card with the logo of UnionPay and VISA (or MasterCard), you will not be charged any handling fee if you swipe your card abroad or take the UnionPay line.
Generally speaking, among the bills paid by cardholders for overseas credit card spending, the credit card handling fee is mostly between 3% and 4%, of which 1%- 1.5% is the international transaction handling fee charged by international card organizations, such as VISA or MasterCard. Although it is collected from the bank, in fact, this fee is still borne by the cardholder;
Another 65,438+0% to 2% is the handling fee or exchange fee charged by the bank. Among them, most overseas banks charge 1.5%, such as CCB, BOC, China Merchants Bank, Xingye and Guangfa. , while others such as banks, Shenzhen Development Bank and Bank of Communications charge 1.75%.
Extended data
Case:
During the National Day holiday, Lao Zhang took his family to travel to Europe. Because he is usually cautious, and it is the first time to go abroad. Although Lao Zhang's family spends a lot of money, they pay attention to keeping a small receipt and keeping records, for fear of any problems with overseas credit cards. However, when he got the bill sent by the bank after returning to China, Lao Zhang found the problem.
It turns out that the amount of notes payable is tens of yuan higher than Lao Zhang's own account. Lao Zhang took a calculator and calculated according to the exchange rate. He found that everything was different from his own record, so he had to dial the customer service hotline of the bank. After asking, Lao Zhang realized that since the credit card he used was a US dollar card, he had to change it into US dollars after swiping euros, and in this process, the bank had to charge a currency exchange fee of 1.5%. "I didn't expect that there would be other hidden charges besides the exchange rate. It's really a long experience. " Lao Zhang said rather helplessly.
Analysis:
When traveling abroad, we are often told to take the UnionPay channel as much as possible and avoid taking the channels such as visa and MasterCard, because it will be "cost-effective". In fact, the reason why domestic cardholders like to take the UnionPay channel is because no matter where in the world, as long as they swipe their cards through the UnionPay channel, the consumption amount will be directly converted into RMB according to the exchange rate, and there will be no exchange fee and no increase in the cardholder's card use cost. Otherwise, there may be a certain foreign exchange fee.
Accurately speaking, the foreign exchange handling fee should be "international settlement fee", which refers to an intermediate currency conversion fee charged by the international card organization to the issuing bank when the actual consumption currency is different from the credit card settlement currency. For example, suppose you travel to Europe and bring a Visa RMB-USD dual-currency card.
Then the euro you spend needs to be converted into dollars when you enter the account, and a foreign exchange fee is generated in the process. Usually, the issuing bank will charge the cardholder this fee, but many cardholders don't care because this foreign exchange fee will not be listed separately in the bill. But if you convert it according to the exchange rate of the day, you will find that the cost of this part is actually quite large.
After learning from many credit card centers, it is found that most credit card centers charge 1.5% of the transaction amount, while the Visa card standards of ICBC and Agricultural Bank of China are lower, charging 1% of the transaction amount, and some banks charge 1.75% of the handling fee.
It is worth noting that some banks will also charge a certain settlement fee when the transaction currency is the same as that of the credit card account. For example, the RMB-USD dual-currency card of Huaxia Bank [3. 12% capital research report] is traded through non-UnionPay lines, and the transaction amount of RMB-USD dual-currency card of Minsheng Bank [2.45% capital research report] is also charged at 1% in the US dollar area.