How to activate and use a credit card for the first time

Many friends who apply for a card for the first time don’t know what to do after getting the credit card. Generally, after you get a credit card, you must first activate it before you can use it. The following will give you an introduction to how to activate and use a credit card.

1. Credit card activation

The first time you use a credit card, you must activate it. Unactivated credit cards cannot be used. There are many ways to activate credit cards. Cardholders who don’t know how to activate can refer to the following three methods:

1. Activation at the counter: This activation method is very simple and generally requires you to bring a valid ID. . Apply for a credit card at the business outlet of the card-issuing bank. Some banks stipulate that you can apply for a credit card online. You can only apply for a card through this method. The relevant documents you need to bring will usually be notified in the text message.

2. Online activation: There are many ways to activate your credit card online. You can activate it by following the card issuer's WeChat official account, or you can activate it on the card issuer's official credit card website.

3. Telephone activation: Generally, you need to call the 24-hour service hotline on the back of the credit card, and then follow the voice prompts to open the card by yourself. If not, you can transfer to manual service and ask customer service to help open the card.

2. Credit card use

Credit card use includes many aspects, such as card consumption, online payment, repayment, and handling of various businesses, such as bill installments, cash withdrawals, etc. , when applying for a card for the first time, you must have a general understanding of how to use a credit card.

1. Credit card consumption: Credit card can be used as a payment tool, and consumption can be made directly through the card POS machine installed by the merchant.

2. Online payment: Online payment with credit card is very simple. For example, if you want to shop on Taobao, select the product and click to pay, select the payment method as credit card, enter the credit card, three-digit security code, and SMS verification code. It's time to pay.

3. Repayment: When using a credit card for overdraft consumption, you must repay it on time, otherwise overdue payments will affect your credit record. There are many ways to repay credit cards. You can repay through mobile banking or through a third-party payment platform, such as Alipay.

How to use a credit card for the first time?

When you apply for a credit card for the first time, you must have many questions. How to use a credit card for the first time? What is the entire process of using a credit card, and what are your vital interests? Let me help you solve them one by one now.

1. Credit card activation

A credit card needs to be activated before it is used for the first time. It can only be used normally after activation. If you do not activate the card, the existence of the card is meaningless. of. There are several ways to activate a credit card:

1. Activating at the outlet counter, you only need to bring your ID card and credit card.

2. When opening a card through online banking, if you have an online banking shield, you can also set a transaction withdrawal password.

3. For telephone voice self-service, you also need to provide the correct personal ID number to verify your identity; if there is an error when you enter the information, you will be transferred to manual card opening.

When setting passwords, be careful not to use birthdays, ID numbers, simple numerical sequences, etc.

2. Consumption use

After the credit card is activated, you can use the card to make purchases normally. Banks will provide various preferential activities to guide you to use credit cards in the form of points, discounts, installments, promotions, etc. However, if you store your spare money in a credit card account, interest will not be calculated. A credit card is not a savings card and there is no deposit. interest rate.

3. Repayment

Credit cards will have a billing date and a repayment date, which are usually marked in the registered letter mailed to the credit card. Friends who use credit cards must remember to repay on time. You can only make repayments after the statement date and before the end of the repayment date. If you repay the loan before the repayment date, you don’t need to pay interest.

4. Interest and late payment fees

Most banks charge full interest, and the principle is that the daily interest rate is 0.5%. If you fail to repay after the repayment date, the bank will calculate interest or late fees on your overdue repayment, which means that the cardholder will need to bear certain additional fees if the repayment is not made in time.

5. Annual fee

Almost all bank credit cards charge annual fees, which range from dozens to thousands of yuan.

The higher the tier of the card, the higher the annual fee charged.

Nowadays, the credit card market is highly competitive. In order to attract customers and encourage consumers to use their cards, most banks will offer many annual fee reduction and exemption activities. For specific discounts and reductions, you can check the official websites of major banks' credit cards.

6. Installment

Credit card installment business is also a service provided by banks for people who have large consumption overdrafts and are unable to pay off their bills within a short period of time. Credit card installments have a certain interest-free period, but there are actually handling fees charged. Once you apply for installments, the handling fees must be charged in full.

7. Cash withdrawal fees

Many credit card users will withdraw cash by credit card because their cash needs cannot be met. Cash withdrawals are different from credit card purchases. Handling fees are required, and the credit card cash withdrawal limit is also limited. Generally, it cannot exceed 10% of the credit limit, and the handling fees are relatively high.

Be sure to understand the above precautions before using a credit card for the first time, especially repaying the loan on time. Once a serious credit overdue occurs, the impact on the future will be indelible.

How to use a credit card for the first time

What is the method to use a credit card for the first time? Let’s talk about this topic with everyone

01

First of all, the first thing you have to do when you get the card is to activate it. You can’t proceed without activating the card. For consumption, you can activate it by phone through customer service, or you can activate it at the counter.

02

After activating the card, you can bind your mobile phone to the official account of the bank where the credit card is located, such as Industrial and Commercial Bank of China. In this way, you can know your limit and consumption status anytime and anywhere.

03

When you enter a store to make a credit card purchase, you generally need to enter a password. However, if you do not set a password when you activate it for the first time, you can directly swipe the card.

04

Finally, in addition to spending in physical stores, you can bind it to major online marketing platforms. Of course, WeChat and Alipay both support credit card repayment business, and you can bind it directly to them. , so that your overdraft money can be returned through this platform.

Does the credit card need to be activated for the first time?

The credit card needs to be activated for the first time.

Relevant regulations for the use of credit cards:

1. The merchant shall submit the payment receipt or cash withdrawal receipt signed by the cardholder to the acquiring bank, and settle the account with the acquiring bank to recover the funds advanced.

2. The acquiring bank deducts a certain handling fee when paying to the special merchant, and the acquiring bank makes a payment request to the card issuing bank. This process is accomplished by transmitting the charge file to the card issuing bank.

3. If the issuing bank has no objection to the transaction, it will pay the acquiring bank and share the business handling fee with the acquiring bank through withholding. Otherwise, it will enter the stage of chargeback or repayment, and it may even end up being submitted to a higher-level organization for adjudication.

4. The card issuing bank issues a statement, that is, a payment notice, to the cardholder at the end of each month or on an agreed date. The cardholder pays the corresponding amount to the card issuing bank after he has no doubts about the transactions on the statement. .

Therefore, the first time you use a credit card, you need to activate it.

Extended information:

Function of credit card:

1. Gathering function

General accounts guide many dispersed small amounts of funds to gather into The capital function that can be invested in social reproduction. Here, the stock market plays the role of a "reservoir" of funds.

2. Allocation function

The allocation of resources, general accounts transfer resources from low-efficiency utilization departments to high-efficiency departments, so that the economic resources of a society can be most effective Allocate resources to the most efficient or most effective uses to achieve rational allocation and effective utilization of scarce resources.

3. Adjustment function

The adjustment effect of personal accounts on the macro economy. The stock market connects savers on one side and investors on the other. The operating mechanism of the stock market works by affecting savers and investors.