Applying for a credit card can be said to be the choice of most people nowadays, but what are the issues that should be paid attention to when using a credit card? What are the methods and techniques when using it? The following is compiled by the editor of ClearView Some relevant information about issues you should pay attention to when using credit cards is for your reference.
Problems you should pay attention to when using credit cards 1. Do not deposit money into the credit card
Depositing money into the credit card is called overpayment. It is difficult to deposit money into the credit card and withdraw money. Generally, credit cards withdraw overpayment. You need to pay a handling fee for the payment, so don’t deposit money into your credit card unless necessary!
2. Pay attention to protecting the information on the credit card face
The three most critical information on the credit card face: Card number, validity period, and CVV code (i.e., the three digits after the signature line on the back of the credit card) are three key pieces of information that affect your card security, especially the CVV code, which is as important as the password. It is recommended to use correction fluid or stickers to cover the CVV code. Hey, some people are even more clever, just scratch off the CVV code with a razor blade, and keep those three numbers in mind.
3. Only by swiping your card frequently and swiping it frequently can you avoid the annual fee. Pay back on time and have a good credit record before you can raise the limit.
Generally, if you swipe your card six times, you can get the annual fee waived. .
So be sure to pay off the annual fee. In addition, swiping your card more frequently can also increase your credit card limit. At the same time, pay back on time and maintain a good credit record. This is also a way to increase your credit limit. . Another way to introduce a limit increase is to make more credit card installments and let the bank earn your money so that you can increase the limit faster. This method has costs, so use it with caution.
4. There are diversified repayment methods, choose the method that suits you
In this information age, repayment methods are diversified, and there is no need to go to bank branches or teller machines. Repay by transferring funds. Credit card repayment methods include Alipay repayment, debit card binding automatic repayment, Lakala repayment, UnionPay online repayment, online banking transfer repayment, Tenpay repayment, etc. Therefore, choose the method that suits you and repay in the fastest and most convenient way!
5. If the capital turnover is not good, or the repayment is delayed due to something, you can call customer service to apply for an extension of repayment
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That is, if your funds cannot be turned over temporarily, or your repayment is delayed due to something, don't worry, call the bank customer service immediately and apply for a one to three day deferment of repayment. Generally, bank customer service will help you extend it!
6. What should you do if you are short of funds? Apply to change the billing date and extend the interest-free period
Be careful to calculate the bill when applying to change the billing date. day, and enjoy the longest interest-free period to relieve the pressure of tight funds. However, this skill cannot be used every month. It is said that some banks can only apply for changes once every six months, and some banks can only apply for changes once a year. Once, some banks can only change it once in a lifetime!
7. Say no to all unreasonable charges
Anyone who has unreasonable charges on their credit card can call customer service and bargain with them. , apply to cancel unreasonable charges. If the customer service does not agree, you can insist on complaining to the end, and you can usually win.
8. Use credit card installment with caution
Credit card installment interest is very high, and installment fees are also charged. Use it with caution and don’t let the bank make a dime of your own money! Of course, Exceptions are made for those who are unable to repay their credit card debts on time due to special circumstances, and those who want to increase their credit card limit as soon as possible.
9. Pay attention to guard against various credit card consumption traps
Be reminded to always pay attention to guard against various credit card consumption traps, such as the Haoxiangdai line provided by Bank of Communications and the Caizhijin provided by Guangfa. , these are similar small credit loans with extremely high interest rates. If you encounter a credit card specialist who sells insurance, you will be rejected. Anyone who borrows a credit card to sell insurance will be rejected!
10. Credit cards cannot be used to withdraw cash< /p>
Credit cards cannot be used to withdraw cash. Unless you are in an emergency or very urgent, we do not approve of withdrawing cash by credit card. The handling fees and interest will not hurt you! Remember: credit cards are used for consumption, not for withdrawing cash. !
11. Pay attention to two dates: the billing date and the repayment date
Generally, the repayment date is 20 or 25 days after the billing date. Also know that before the billing date If the card is swiped the day after the bill date, the interest-free period will be the longest, and if the card is swiped the day before the billing date, the interest-free period will be the shortest.
12. Should a credit card have a password? Different people have different opinions
Some people say that not having a password feels like running naked. So, should a credit card have a password? Different people have different opinions, and the wise have their own opinions.
Generally speaking, credit cards without passwords are safer, but the key is to see if the bank provides you with card loss protection?!
According to Chinese consumption habits, it is better to use a combination of signature and password Just swipe your credit card. Pay attention to developing good credit card swiping habits in your daily life and protect your credit card information. Once it is found to be lost, report the loss in time to avoid greater losses.
13. Cleverly use the official WeChat account of the credit card to provide consumption reminders
Nowadays, for some credit cards, as long as you follow the official WeChat account of the credit card and bind the credit card account, you can make instant consumption reminders, such as China Merchants Bank, China Guangfa, consumption reminders are free and don’t cost a penny.
The official WeChat accounts of Bank of Communications and Minsheng Credit Card are second. These two banks cannot provide instant consumption reminders, but their official WeChat accounts can be used to check credit card limits and credit card bills. In short, it is still very convenient.
Tips for using credit cards to control your credit limit
When we want to apply for a card, many people hope that the higher the credit limit after evaluation, the better. , I think I can buy more or more expensive things. In fact, you may not necessarily actually buy it, but you still want your credit limit to be higher. But what you need to understand is that in addition to helping you buy big-ticket items and beloved things that you are reluctant to buy, if your repayment plan exceeds the load of your salary income, it may also become a bureaucracy. A trap for you. Therefore, try your best to control your credit limit within three times of your disposable income, so as not to affect your normal life process.
Use installment payment with caution
It will definitely feel painful if you spend so much money to pay for something that is very expensive. However, when they tell you, dear, We can pay in installments!? You will definitely be very happy to take it home. Because when a broken plan is put into your daily expenses, you won't feel so painful and you will feel like you are getting a good deal. In fact, apart from the fact that your amount of money may only be slightly more than if you paid it in full and there are handling fees, many people will think that this is nothing and it is affordable. But when you start to repay this part of the money in installments, your heart will change over time. The first few repayments will still make you feel very painful, and you will feel a little unaccustomed to using money. It always feels like a part of it has been set aside. In the following days, you begin to forget about this amount and feel that it is okay without it. It is difficult for this money to stay in your wallet for a long time. After you repay this part of the money, you will still continue to try to find a way to spend this part of the money. It seems that I can buy something else, this What is the installment amount I can afford? OK, the merchant’s purpose has been achieved.
Repay in full
When you reach the repayment period, you will feel that you can just repay part of it. Anyway, your credit will not be deducted, just a little interest. . Oh my dear, I believe they are also happy for you to continue like this. After a year, you will feel that half of your salary has been contributed to the bank.
Develop a good habit of keeping accounts
Many people use credit cards for consumption, but they always feel that they still have a lot of money in their hands and have not spent it. I feel like I have double money, so I just swipe the card first, since I won’t pay it back until next month anyway, and with so much money in hand, I can still buy something else. In order to prevent you from spending more than you should, you need to have a clear financial management system to help you see where your money is going.
Don’t use multiple cards to support each other
Do you think you are really smart? You can use different repayment dates to take advantage of the loopholes and use other banks’ overdrafts to repay your bank. loopholes. Children, you have to know that this kind of thing is just something you do occasionally. If you use this as a way to try to maintain a card, the circulation of information will quickly make it impossible for you to borrow money from other bank cards, making it difficult for you to repay your own loopholes, and then you will look for ways to borrow money everywhere. And borrowing money will eventually lead to a desperate situation where money is strangling the neck.
Keep the application form
Keep the receipt of your successful credit card application, and then leave the number on the back of your credit card. Then set up the credit card so that you don’t need to enter a password when swiping the card, only a signature is required. When your card is lost, you are solely responsible if your password is swiped when you swipe the card. However, if you do not need to enter a password but only sign, the bank is fully responsible.
Of course, the best thing is to protect your card.
Multi-currency credit cards worth applying for 1. Industrial and Commercial Bank of China Global Travel Card
The main features are as follows:
US dollars, Euros, Hong Kong dollars, British pounds, Australian dollars , Japanese yen, Singapore dollar, Canadian dollar, Swiss franc, New Zealand dollar, 10 foreign currencies for direct payment without currency conversion.
If automatic foreign exchange purchase is turned on, foreign exchange will be automatically purchased and repaid from the debit card on the repayment date. If automatic foreign exchange purchase is turned off, foreign exchange will be purchased and repaid manually.
UnionPay and MasterCard dual channels are available in China, and Alipay can be used for repayment.
The annual fee for the gold card is waived if you swipe the card 5 times, and the annual fee for the platinum card is 2,000, and the annual fee is waived if you spend 20W in the annual cycle.
The Platinum Card has a PriorityPass card and can enter the airport international VIP lounge unlimited times.
This card is a card recently promoted by Industrial and Commercial. It is similar to Industrial and Commercial's multi-currency card, but the card surface is a hundred times better-looking. This card only supports 10 currencies and can waive currency exchange fees, but it is basically enough. It should be noted that after opening the card, the personal credit report will show that there are accounts in 10 currencies in the industrial and commercial sector. Friends with mysophobia should be careful. I personally feel that there is no impact.
Even if automatic foreign exchange purchase and repayment is enabled, foreign exchange repayment will be automatically purchased from the debit card on the repayment date. The amount of foreign currency consumed will be shown on the bill and will not be directly recorded in RMB. Before the repayment date, it is also a good choice to choose a time when the exchange rate is good and manually purchase foreign exchange for repayment.
This card does not have a regular card, and there is no opportunity to downgrade the card after application. It is recommended that Taobao friends who are not confident in their own strength apply for the ICBC multi-currency card. Except that the card face is a bit ugly, the basic functions are the same. . The approval process of Cosmos Bank is rather strange and there are no rules. I went to the card department with my income certificate and salary card statement from China Merchants Bank and got it in 15 days.
2. Bank of China’s all-currency international chip card
The main features are as follows:
Apply before December 31, 2013, and the annual fee will be waived for life.
Currency exchange fees are waived until June 30, 2014.
After turning on the global transaction RMB accounting function, all foreign currency transactions will automatically purchase foreign exchange and record it in RMB. You only need to repay the bill in RMB. If you turn off this function, you need to manually purchase foreign exchange and repay.
Equipped with an EMV chip, it can be used in foreign chip POS machines that do not support magnetic stripe cards. It is said to be safer than swiping magnetic stripes.
Visa single channel, no UnionPay logo, cannot be repaid with Alipay. Domestic non-Visa channel card swiping only supports Bank of China POS machines.
EMV Platinum Card offers 5% cash back for overseas purchases.
Earn double points for spending in foreign currencies, and the points are permanently valid.
This is a card that has been in the limelight recently. The card has a high-end appearance and is of high quality. It has an EMV chip for high security. Bank of China has a good reputation abroad. It is really the card of choice for traveling abroad. one.
This card also has obvious shortcomings for overseas shopping people. First of all, this card cannot be used in China and does not support third-party repayments such as Alipay. You can only go to a Bank of China branch or use Bank of China online banking to repay; secondly, the discount on currency exchange fee reduction will only end in the middle of next year, and the follow-up policy is not yet available. clear. However, considering that the annual fee will be waived for this year’s application, it is recommended that qualified Taobao friends apply for a spare one.
In most outlets in Beijing, you can fill out the application form by using another bank’s high-value platinum card that has been used for more than half a year, or just pay 20W. When I applied, it was my first platinum card, so I just moved in. It took about 10 days from application to card withdrawal, and the funds can be withdrawn after the card is disconnected.
3. China Construction Bank Global Payment Card
The main features are as follows:
All foreign currency transactions (including card swiping, online shopping, and withdrawals) automatically purchase foreign exchange and RMB is credited to the account , you only need to repay in RMB according to the bill.
No currency conversion fees and no deadlines.
UnionPay and VISA (MasterCard) dual channels are available in China, and Alipay can be used for repayment.
No annual fee if you swipe the card 10 times.
This card is also currently the main card promoted by China Construction Bank. The card appearance is not bad, and it is a satisfactory small platinum card with no rights and no obligations. Similar to Bank of China EMV, it is also directly recorded in RMB. And there is a UnionPay channel, which is available in China, and you can use Alipay to repay, which is especially suitable for novice users.
CCB once claimed that the 17 commonly used currencies of this card directly follow CCB’s internal exchange rate, without the need for currency exchange. The exchange rate will be lower than that of Visa or MasterCard channels. I don’t know whether it is true or not, but in actual use, the exchange rate is still relatively ideal. .
If you have a card from China Construction Bank, you can apply for it if you have a temporary credit enhancement limit of 3W. The editor has no dealings with China Construction Bank, so I took my income certificate and CMB salary card statement to the branch to apply for it, and I got it in 3 weeks.
4. China Merchants Bank’s all-currency international credit card
The main features are as follows:
Free annual fees for life.
All foreign currency transactions (including card swiping, online shopping, and withdrawals) automatically purchase foreign exchange and deposit it into your account in RMB. You only need to repay the bill in RMB.
No currency conversion fees and no deadlines.
Visa single channel, no UnionPay logo, cannot be repaid with Alipay. Domestic non-Visa channel card swiping only supports CMB POS machines.
This card is also a card that everyone often discusses, and the card surface is just okay. Except that there is no EMV chip, and there is no expiration date for the currency exchange fee-free discount, it is very similar to Bank of China EMV. Foreign currency transactions are recorded in RMB, which is basically unavailable in China, and Alipay cannot be used for repayment. Considering that the annual fee is waived eventually, you can apply for a backup card.
The China Merchants Bank card is relatively easy to apply for, and you can basically apply for the card if there are no flaws in the Hong Kong Express. The editor applied directly online and got it in 2 weeks.
Exchange rate comparison:
On December 6, almost at the same time, the editor spent US$5 on these four full-currency (multi-currency) cards. The following is each Card credit situation:
Bank of China credited the card on December 8, and 5 US dollars was directly credited to RMB 30.46, with an exchange rate of 6.092.
China Construction Bank entered the account on December 9, and 5 US dollars was directly credited to RMB 30.42, with an exchange rate of 6.084.
Industrial and Commerce entered the account on December 7th, showing a bill of US$5.
ICBC manually purchased foreign exchange on December 8, 5 US dollars cost RMB 30.42, and the exchange rate was 6.084.
China Merchants Bank entered the account on December 8, and 5 US dollars was directly credited to RMB 30.50, with an exchange rate of 6.10.
Although CCB entered the account one day late and lost the value of accurate comparison, based on the editor's past overseas shopping experience, CCB's exchange rate is still good and should be similar to Bank of China.
What should you pay attention to when using a credit card