Credit card pre-authorization usually freezes part of the credit limit. If the cardholder wants to close the pre-authorization, he can cancel the pre-authorization by himself or contact the merchant to send a cancellation letter to the bank. Of course, Or if the pre-authorized amount is not spent after waiting for 30 days, it will be canceled on its own.

Credit card pre-authorization is a new type of transaction method. In layman's terms, it is a form of advance payment, which can be understood as a "deposit". When a consumer uses a credit card to book a hotel or air ticket, the bank will first freeze a portion of the funds in the credit card as a "deposit" for the merchant's consumption. After the consumption is completed, the cardholder's signature is pre-authorization confirmation, and the merchant can officially deduct the money. This part of the funds.

However, if the consumer fails to confirm pre-authorization in time, the merchant can apply to UnionPay for pre-authorization completion, and then the bank can transfer the funds to the merchant's account.

Extended information:

According to the "Notice on Issuing the "Credit Card Business Management Measures"":

Article 15 The card-issuing bank shall establish an authorization and approval system.

When cardholders use their credit cards to handle transfer settlement or withdraw cash, if the amount exceeds the prescribed limit, they must obtain authorization from the card-issuing bank.

Article 16: Corporate cardholders are not allowed to use their credit cards to withdraw cash at bank outlets and ATMs in other places and within the city where they receive the card.

Article 17: Cardholders are allowed to make overdrafts for consumption purposes within the limit and period specified in these Measures. The overdraft limit is 10,000 yuan for gold cards and 5,000 yuan for ordinary cards.

Article 18: The maximum overdraft period of a credit card is 60 days.

Article 19 Credit card overdraft interest will be calculated at a daily interest rate of 5/10,000 within 15 days from the date of signature or bank accounting date, and a daily interest rate of 10/10,000 for more than 15 days, and 10/10,000 for more than 30 days. Or if the overdraft amount exceeds the prescribed limit, the daily interest rate will be calculated at 15%. Overdraft interest is not calculated in stages, but is calculated based on the highest interest rate bracket for the final term or the maximum overdraft amount.

Article 20: The overdraft business of each card-issuing bank must be included in its credit scale for management. The overdraft amount is transferred to short-term loan accounting.

Article 21: Malicious overdraft refers to the overdraft behavior of the cardholder for the purpose of illegal possession, exceeding the prescribed limit or prescribed period, and the collection by the card-issuing bank is invalid.

Article 22: The special unit shall not refuse to accept a valid credit card legally held by the cardholder and issued by the contracted bank for any reason, and shall not charge additional fees to the cardholder for using the credit card.

Baidu Encyclopedia-Credit Card Pre-Authorization