Can I withdraw money from a credit card?

You can withdraw money with a credit card. There are three ways to withdraw money: Cash advance and cash withdrawal: Cash advance is one of the basic functions of a credit card. Cardholders do not need to apply to the bank in advance and can directly insert the card into the ATM machine to withdraw cash. The amount of cash withdrawal is generally 50% of the available limit of the credit card.

2. Cash withdrawal in installments:

This method of cash withdrawal requires the cardholder to apply to the bank, and the bank will also review it. If the review is passed, the bank will transfer the money to the cardholder. The bank's debit card under the person's name; if the verification fails, the cardholder cannot withdraw cash.

3. Withdrawal of overpayment:

Overpayment is the money stored in the credit card by the cardholder, which can be withdrawn directly from the ATM machine.

Credit cards, also called credit cards, are credit certificates issued by commercial banks or credit card companies to consumers with qualified credit. It takes the form of a card with the issuing bank's name, validity period, number, cardholder's name and other contents printed on the front, and a magnetic stripe and signature strip on the back. 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 credit cards is CreditCard.

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.

In most cases, citizens who have full capacity for civil conduct (citizens over 18 years old in mainland China) and have certain direct financial resources can apply for a credit card from the card issuing bank. Sometimes, legal persons can also be applicants.

Applicants for credit cards can be divided into units and individuals. Applicants should be institutions, enterprises and business units, foreign-funded enterprises and individual industrial and commercial households with independent legal person status in my country. Each unit applying for a credit card can receive a main card and multiple (5-10) supplementary cards as needed. To apply for a credit card, an individual must have a fixed occupation and a stable source of income, and provide a guarantee to the bank. The forms of guarantee include personal guarantee, unit guarantee and personal capital guarantee.

The application method is generally by filling in a credit card application form. The content of the application form generally includes the name of the applicant, basic information, economic status or source of income, guarantor and his/her basic information, etc. And submit certain copies of documents and certificates to the card issuing bank. After the customer fills in the application form truthfully according to the content, the customer must also submit the relevant credit certificate while submitting the completed application form. The application form is accompanied by a credit card use contract. The applicant authorizes the card-issuing bank or relevant departments to investigate its relevant information, and submits a statement of the authenticity of the information, the card-issuing bank's privacy protection policy, etc., and must have the applicant's signature.

Can the money on the credit card be withdrawn?

The money deposited into the credit card can be withdrawn. The money stored in the credit card is called overpayment. It is common to withdraw the overpayment. There is a handling fee, but some banks will also waive handling fees for overpayment cash withdrawals. The specific rates need to be subject to bank regulations.

If there is an overpayment on the credit card, the credit limit will be increased, and this part of the money will be deducted first when making purchases. The credit limit will be deducted after the overpayment is deducted.

When the consumption level is less than the overpayment, the credit card will not be overdrawn. You can also directly swipe the credit card to use the money when shopping until the money is used up.

Both methods of handling overpayments will not incur interest or handling fees.

Types of credit cards

According to different card issuers, they can be divided into bank cards and non-bank cards

Bank cards.

This is a credit card issued by a bank. Cardholders can shop at the card-issuing bank's special merchants, and can also withdraw cash at any time at any branch of the card-issuing bank or at places with ATMs.

Non-bank card. Such cards can be specifically divided into retail credit cards and travel and entertainment cards.

According to the different objects of issuance, it can be divided into corporate cards and personal cards

Corporate cards. Company cards are issued to various industrial and commercial enterprises, scientific research and education institutions, national party and government agencies, military units, groups and other legal entities.

Personal card. Personal cards are issued to urban and rural residents, including workers, cadres, teachers, scientific and technological workers, self-employed households and other adult urban and rural residents with stable sources of income.

According to the credit status, status and other credit conditions of the cardholder, it can be divided into ordinary cards and gold cards

Ordinary cards. Ordinary cards are issued to cardholders with average financial strength, credibility and status, and their various requirements are not high.

Gold Card. A gold card is a high-end credit card that pays high membership fees and enjoys special benefits.

According to different repayment methods, credit cards can be divided into credit cards and quasi-credit cards

Credit cards. When the card-issuing bank provides bank credit, it is first used as an overdraft, and then repaid or paid in installments. Most of these cards are used internationally.

Quasi credit card. It is a credit card issued by a bank that allows you to deposit money first and spend later.

According to the different circulation scope of credit cards, they can be divided into international cards and regional cards

International cards. An international card is a credit card that can be used outside the country of issue and is accepted worldwide.

Regional card. A regional card is a credit card that can only be used within the issuing country or within a certain region. Most of the various credit cards issued by commercial banks in my country are regional cards.

Can credit card deposits be withdrawn?

1. Credit card deposits can be withdrawn, but a handling fee is required. The extra money that a credit card user deposits during repayment or the amount owed in the credit card is called overpayment, which is an overpayment.

2. For example, if you need to repay 500 yuan in this period, and the actual repayment is 600 yuan, the extra 100 yuan is the overpayment. This part of the money can be withdrawn, or the available limit of the credit card can be increased and used directly for consumption. That is, this part of the money is deducted first when consumption is made, and the credit limit is deducted after the overpayment is deducted. When the consumption level is less than the overpayment, the credit card will not be overdrawn.

3. These two methods of handling overpayments will not generate interest or handling fees.