Basic knowledge of credit cards
#creditcard达人show#Credit cards are a loan method based on personal credit and are the easiest form of loan.
Credit cards allow you to own the item in advance and enjoy the happiness it brings to you when you encounter the item you have longed for and haven’t paid yet.
Credit cards have a cash withdrawal function. The amount of cash withdrawal is 50% of the credit limit. It can be withdrawn directly from an ATM machine with a 1% handling fee. Banks have different standards for interest rates.
There are two dates that you must know to use your credit card well,
a billing date and a repayment date.
The billing date is set by the bank. If your billing date is the 15th, then the natural 15th is a cycle, and the bill issued on the 15th represents the transactions that occurred from the 15th of the previous month to the 15th of this month.
The repayment date is approximately 20 days after the bill date. Repayments can be made from the time the bill is issued to the repayment date. And there is a grace period 2-3 days beyond the repayment date. Repayment within the grace period will not have any negative impact on the card user. However, ICBC does not have a grace period. Interest, or liquidated damages, will be charged for repayments after 24:00 on the repayment date. Calling customers is usually exempted.
The credit card face consists of cardholder name, expiration date, chip, magnetic strip, security code, customer service phone number, etc.
It is worth noting that the security code should not be leaked easily, especially if an unknown caller asks for the security code, do not give it.
Some basic knowledge about credit cards
The following are some basic knowledge about credit cards:
About the cardholder. "Cardholder" refers to the organization or individual who applies for a credit card from the Bank and is issued a card. Corporate card holders should be designated by their organization; personal card holders include primary card holders and supplementary card holders.
About credit limits. The bank will calculate your credit value based on your application and various information, and then convert it into your credit limit. Everyone's application conditions are different, and the credit limit will also vary from person to person.
About the billing date, repayment date and interest-free period. The billing date is the day when the credit card generates the current statement every month. The repayment date is the latest date on which the bill can be repaid, usually about 20 days after the bill date. The interest-free period is the time from when you spend a certain amount of money with a credit card until the repayment date.
About the minimum payment amount. If you have difficulty repaying the loan in full before the repayment date, you should pay the minimum repayment amount (usually 5 or 10% of the bill amount), otherwise it will be regarded as a breach of contract and you may be charged full penalty interest. Charge late fees and affect your credit status.
About late payment fees. If your actual repayment amount is lower than the minimum repayment amount on the payment due date, you will be charged a late fee for the unpaid portion of the minimum repayment amount. The proportion of late payment fees is uniformly stipulated by the People's Bank of China, which is 5% of the unpaid portion of the minimum repayment amount.
About the annual fee. Most banks now implement the policy of waiving the annual fee in the first year and waiving the annual fee in the following year after spending a few transactions, except for general platinum cards. For some platinum cards, points can be used to redeem annual fees.
Extended information:
CreditCard, also called credit card. It is a non-cash transaction payment method and a simple credit service. There is no need to pay cash when making purchases with a credit card, and repayment will be made on the billing date (BillingDate).