What is a credit card and what is its purpose?
Credit cards are also called credit cards and are mainly used for overdraft consumption. After the user applies for a credit card, the bank will give you a certain limit. The user can make overdraft purchases within the limit. After overdrafting the credit card, the user needs to repay, which is a way of spending first and repaying later.
Bank cards refer to credit payment instruments issued to the public by approved commercial banks (including postal financial institutions) with all or part of the functions of consumer credit, transfer settlement, cash deposits and withdrawals, etc. Bank cards reduce the circulation of cash and checks, allowing banking business to break through the limitations of time and space and undergo fundamental changes. The application of the bank card automatic settlement system has made the dream of a "checkless, cashless society" a reality.
Applying for a bank card
The process of applying for a credit card and a debit card is different.
When applying for a credit card, you need to bring your valid documents (ID card or copy of ID card or household registration book or copy of household registration book), proof of residence, proof of unit income or proof of personal assets and other materials to the card issuer. To apply, you need to fill in the application form, and the information filled in must be true. After filling out the application form, it must be filed with the head office of the account opening bank. After the head office of the account opening bank reviews the application materials, it will take about 20 working days before the card can be issued to the customer. Credit cards are only available to customers who are 18 years of age or older. Minors are not allowed to apply for credit cards.
Applying for a debit card is relatively simple. You only need to bring your valid documents (ID card or household registration book) and fill out the application form at the bank where the account is opened. The card can be issued to the applicant at that time. There is no age limit for debit card application, and minors can also apply. When customers under the age of 16 apply for a debit card, their guardian must hold the account book (if they are not in the same account book, relevant certificates must be provided) to the bank branch counter to apply for it. The person being processed does not need to be present; if the customer is over 16 years old, If minors under the age of 18 are already working, they can go to the bank counter with their work certificate and ID card to apply for a debit card on their own. If they are not working, they still need the assistance of their guardians, and the person being processed does not need to be present; Applicants who are 18 years old or above can directly go to the counter of a bank branch or a self-service card application machine with their ID card to apply for a debit card, and get it immediately. According to national regulations, debit cards issued by minors do not have online banking functions and cannot be bound to mobile payment software.
Report the loss of a bank card
The procedures for reporting the loss of a bank card are not exactly the same among major banks. If you lose your bank card, you can first use the phone or online banking to temporarily report the loss, and then bring your ID card and other proof. Report the loss of materials at the bank counter.
Talk about your views on credit cards
I think credit cards have advantages and disadvantages. It depends on who it is. For people with poor self-control, credit cards will make us more and more in debt. For those who know how to manage money, they can use credit cards to manage money and increase their wealth. : Credit card, also called credit card, is a credit certificate issued by a commercial bank or credit card company to consumers with qualified credit. It takes the form of a card with the name of the issuing bank, validity period, number, cardholder name and other contents printed on the front, and a magnetic stripe and signature strip on the back. Consumers holding credit cards can shop or consume at specially appointed commercial service departments, and then the bank will make settlements with merchants and cardholders. Cardholders can overdraft within the prescribed limit.
Credit cards stipulated in the relevant laws of our country ("Interpretation of the Standing Committee of the National People's Congress on Relevant Credit Card Regulations") refer to credit cards issued by commercial banks or other financial institutions with the functions of consumption payment, credit loans, transfer settlement , cash deposit and withdrawal and other full or partial functions of the electronic payment card. On December 1, 2017, the "English Translation and Writing Standards in the Public Service Field" was officially implemented, stipulating that the standard English name of credit cards is CreditCard.
Credit card consumption is a non-cash transaction payment method. There is no need to pay cash when consumption, and repayment will be made on the billing date (BillingDate).
Credit cards are divided into credit cards and quasi-credit cards. Credit cards refer to credit cards in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; quasi-credit card It refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund as required. When the reserve account balance is insufficient to pay, the cardholder can overdraw within the prescribed credit limit. The so-called credit card generally refers to a credit card only.
Starting from January 1, 2021, the credit card overdraft interest rate will be determined independently by the card issuer and the cardholder through independent negotiation, and the upper and lower limit management of credit card overdraft interest rates will be cancelled. The daily interest rate is 0.7 times 5/10,000).
On May 25, 2021, the Supreme People’s Court issued and implemented the “Regulations of the Supreme People’s Court on Several Issues Concerning the Trial of Bank Card Civil Cases.”
Definition of credit card
Credit card
"Credit card is also known as "credit card", the English name is CreditCard, specifically refers to the credit card issued by commercial banks. Or it is a credit certificate issued by other credit card companies to users who meet credit conditions. Users who hold credit cards can go to commercial banks or special merchants or service departments specified by the credit card company to make purchases within the specified limit. Then settle with the special merchant through the bank. ”
1. Application
1. In most cases, people with full capacity for civil conduct (citizens aged 18 or above in mainland China). Citizens with certain direct financial resources can apply for a credit card from the card issuing bank. Sometimes, legal persons can also be applicants.
Applicants for credit cards can be divided into units and individuals. Applicants should be institutions, enterprises and business units, foreign-funded enterprises and individual industrial and commercial households with independent legal person status in my country. Each unit applying for a credit card can receive a main card and multiple (5-10) supplementary cards as needed. To apply for a credit card, an individual must have a fixed occupation and a stable source of income, and provide a guarantee to the bank. The forms of guarantee include personal guarantee, unit guarantee and personal capital guarantee.
2. The application method is generally by filling in a credit card application form. The content of the application form generally includes the name of the applicant, basic information, economic status or source of income, guarantor and his basic information, etc. And submit certain copies of documents and certificates to the card issuing bank. After the customer fills in the application form truthfully according to the content, the customer must also submit the relevant credit certificate while submitting the completed application form. The application form is accompanied by a credit card use contract. The applicant authorizes the card-issuing bank or relevant departments to investigate its relevant information, and submits a statement of the authenticity of the information, the card-issuing bank's privacy protection policy, etc., and must have the applicant's signature.
2. Review
1. After receiving the application form and relevant materials from the applicant, the card-issuing bank must review the applicant's creditworthiness. The content of the review mainly includes whether the content of the application form is true. The creditworthiness of the applying unit must be evaluated, and the relevant circumstances of the guarantor must also be reviewed for individuals.
2. Usually, the bank will judge whether to issue a credit card to the applicant based on the application information and various aspects of the applicant's information and financial situation. Factors considered include the applicant's past credit record, the applicant's known assets, professional characteristics, etc. The specific factors and processes reviewed by the card issuing bank are commercial secrets and are generally difficult for outsiders to understand. The standards of each card-issuing bank are also different. Therefore, the same materials may be issued with different credit limits and different types of credit cards in different banks. Some banks may even approve the application, while others may reject it. .
That’s it for the introduction to credit cards.