There are two types of interest on Guangfa Credit Card: cash interest and retail interest. Cash interest refers to the interest on the total amount of cash owed to the bank, while retail interest refers to the interest on the amount not repaid when due.

For example, if you spent 510 yuan last month and you only repaid 500 yuan before the final repayment date, the remaining 10 yuan will generate retail interest on the next month's bill.

Finally, I want to share some popular knowledge with you: If the credit card is not repaid in full within the interest-free period, then the so-called interest-free period will no longer exist. In other words, if you only repaid the minimum repayment amount of 500 yuan before the repayment date (even if you repaid 4,239 yuan), the interest on the 4,240 yuan you consumed will be calculated starting from July 1.

Extended information:

The current use of credit cards

Swiping cards at POS machines

Swiping cards at POS machines is the most common way to use credit cards. It is a way to swipe your card online. When swiping a card, the operator should first check the credit card's validity period and cardholder's last name and other information.

Then, select the corresponding POS machine according to the card issuing bank and the currency type to be paid, and slide the magnetic stripe of the magnetic stripe credit card on the POS machine, or insert the chip credit card into the card slot to connect to the bank, etc. Payment gateway, enter the corresponding amount.

After the remote payment gateway accepts the information, the POS will print out a receipt for payment by card (at least two copies). The cardholder should sign the receipt after checking that the information on the payment receipt is correct.

After the operator checks the signature on the receipt and the signature on the back of the credit card (including that the name completely matches and the handwriting basically matches), the operator gives the credit card and a copy of the card payment receipt to the cardholder. At this point, the POS machine The card swiping process is completed.

RFID machine taps the card

Tapping the card on the RFID machine is a new type of credit card usage method, and it is also a networking method. When tapping a card, the operator should first check the credit card's validity period and cardholder's last name and other information.

Then, select the corresponding card machine according to the card issuing bank and the currency type to be paid, enter the corresponding amount, and place the credit card flatly no more than 10cm above the sensor.

The RFID machine will emit a signal after sensing the credit card, and then continue the operation process. After the remote payment gateway accepts the information, the printer (if it is connected) will print out a receipt for card payment, but it is different from the previous method. , the cardholder does not need to sign, which is faster and more convenient than the previous method. At this point, the card sensing program on the RFID machine is completed.

Manual order pressing

Manual order pressing is usually used when there is no POS machine or the Internet is not available. The order pressing operation must have a pressure-sensitive copy of the "direct purchase order" (at least two copies) and a telephone number. The inspection work before pressing the order is the same as that of the POS machine.

Then, the operator will use the credit card pressing device to print the card number, name, etc. raised on the credit card onto the purchase form, write the amount, date and other information, and then call the acquiring bank's authorization hotline. , report the card information to apply for authorization, write the authorization code obtained on the purchase form, and then the cardholder signs it after confirming it is correct.

After checking the signature, the operator hands the credit card and purchase order copy to the cardholder. At this point, the manual order pressing process is completed. Authorization calls are usually made immediately.

In some areas with poor communication or good credit ethics, merchants may encounter situations where merchants will deliver goods to complete the transaction after the customer signs the card. The authorization will be completed in the future, but the merchant is at risk of encountering credit card fraud (if a customer pays with an invalid card, it will not be discovered immediately without applying for an authorization code immediately).

Baidu Encyclopedia--Interest

Baidu Encyclopedia--Credit Card