Does the credit card have a password?

The credit card has two passwords, one is the inquiry password, and the other is the withdrawal password (also the password for consumer transactions). If you only activate the inquiry password, you will be No password is required when swiping the card at the POS machine. If you have activated the withdrawal password, you can withdraw money at the bank counter or ATM machine with the withdrawal password. The trading password is a function of your own choice. You can choose to enable it or not. All credit cards are the same in this regard.

Credit Card

CreditCard, also called credit card. It is a non-cash transaction payment method and a simple credit service.

A credit card is a credit certificate issued by a commercial bank or credit card company to consumers with qualified credit. Consumers holding credit cards can shop or consume at specially designated commercial service departments, and then the bank will settle the accounts 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 a credit card is CreditCard

Credit cards are generally 85.60 mm long, 53.98 mm wide, and 1 mm thick. The special carrier plastic card has the name of the card issuer, validity period, number, cardholder name and other contents printed on the front, and has a chip, magnetic stripe and signature strip on the back. Cardholders can use their credit cards to shop and spend money with special entities and deposit and withdraw cash from banks.

There is no need to pay cash when making purchases with a credit card. 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.

The Agricultural Bank of China credit card password is a 6-digit original password. When the Agricultural Bank of China credit card and letter are sent together, you must follow the card opening steps and set a new password at the same time to successfully open the card. If you are still unclear, please call the customer service hotline of Agricultural Bank of China Credit Card!

CITIC Bank credit card does not have an initial inquiry password and initial payment password. Instead, the cardholder needs to set his own password through CITIC Bank online banking, credit card customer service hotline, etc. after activating the credit card.

Do I need a password to swipe my credit card?

There are no hard and fast rules for this, it mainly depends on personal habits.

If you want to set a password, you can set a password for your credit card. When you swipe your card to make a purchase, you must enter the correct password to make the transaction successful; if you don’t want to set a password, you can make a purchase by signing. When you swipe your card to make a purchase, just sign your name on the UnionPay slip. .

Whether a credit card needs to have a password has always been a controversial issue in China. Some people think that setting a password is safer, while others think that not having a password is more secure. It is difficult to explain why everyone is right. Duel. It is not easy for the editor to draw conclusions on this issue easily. Here I will simply introduce my own views. If you agree, please give it a thumbs up. If you disagree, you can laugh it off.

In the eyes of most Chinese people, credit cards must have a password. They believe that setting a password can prevent others from stealing your credit card. After all, even if someone takes your card, they will not be able to spend money without knowing the password.

The reason why a few people think that it is safe to not have a password is because bank credit card regulations stipulate that if a credit card does not have a password, the card will be protected if it is stolen, and you will not have to pay for the loss caused by theft. bear.

Not having a password does not necessarily mean security. First, credit cards do not have passwords. Although a signature is required for consumption, few cashiers in China will carefully check whether the signatures match. This means that no one can guarantee that the person signing is the cardholder. No matter who gets the credit card, they can make purchases. , undoubtedly increases the probability of credit card fraud.

Secondly, even if the credit card does not have a password and is stolen, you can enjoy the lost card protection service, but this lost card protection is also conditional. The success rate of recovering losses through lost card protection has historically been less than 70%.

So, why is it so difficult to recover losses under lost card protection?

1. The coverage of lost card protection is limited, and it only covers losses within 48 or 72 hours before reporting the loss. That is to say, if you do not report the loss to the bank in time after the credit card is stolen, then the loss will still be incurred. It's on you.

2. The process of recovering losses with lost card protection is tedious and long. First, you must report the loss immediately after reporting the loss and provide the bank with relevant proof of card swiping by someone other than yourself, and then wait another 2 to 3 months before you can recover. return losses. During this period, the credit card bill will still be issued, and you must first advance the stolen money yourself, otherwise your personal credit will be affected by the overdue payment.

Is there no transaction password set for the credit card, so no password is required for swiping the card?

Yes.

Credit card swiping generally requires entering a password, but there are some that do not require entering a password but require a signature.

Small-amount password-free and visa-free:

It is a small-amount fast payment service provided by China UnionPay for UnionPay IC cards with the "Quick Pass" function. Customers do not need to activate it separately. . When you go to swipe your card, you don't need to enter a password as long as the amount does not exceed a certain amount (usually less than 200 yuan).

If it is a debit card, you need to transfer a small amount to a cash account before it can be used. If it is a credit card, you don’t need to do anything, you can swipe the card directly!

Credit cards can not only be used for card-less transactions, but also card-less and password-free transactions (no need to enter a password). Because of this, cardholders are advised to protect the CVV code (commonly known as the "last three codes") on the back of the credit card. ” or CV2).

Extended information:

1. Debit card holders generally need to enter a password when making purchases with their cards.

2. Credit card holders can choose whether to set a password for card consumption.

If the cardholder chooses to swipe the card for consumption without a password, there is no need to enter a password when swiping the card for consumption; if the cardholder chooses to swipe the card for consumption, enter the password.

3. When swiping a card for consumption, you generally need to enter a password. Cardholders can apply to set whether to enter a password when swiping a card through customer service of the card-issuing bank, online banking and other channels.

4. Credit cards generally do not have to use passwords. Credit cards such as China Guangfa Bank and China Merchants Bank do not need to enter the real password to make purchases. The main thing is to confirm my signature on the POS slip and the signature on the back of the card or application form. Are the signatures on them consistent?

5. However, when opening a credit card, you generally need to use a password. The card opening requires an ID number, mobile phone, or home phone number. Some banks require the mobile phone and landline phone number when filling out the form after opening the card. Call the designated phone number of the bank to set the cash withdrawal and consumption password.

Most banks open the card first and then send the password letter.

Reference materials:

Credit card swiping_Baidu Encyclopedia

This is the end of the introduction on whether a credit card has a password and how to check whether a credit card has a password. Do you know where you found the information you need?