A credit card is a card that banks provide to users to pay without cash and to repay on a specified date.

Credit cards have the following functions:

1. Direct consumption: Cardholders can make purchases in stores, airports, hospitals and other places instead of cash.

2. Savings deposit: The bank calculates the margin of the credit card account according to the prescribed interest rate and can then deposit it into a savings deposit.

3. Transfer settlement is possible: Cardholders can transfer and pay at Bank of China’s business outlets.

4. Overdraft function: Cardholders can overdraft and withdraw cash within the limit allowed by the card-issuing bank.