A credit card is a card that allows you to consume first and repay later. You can use bank funds to consume in advance and enjoy an interest-free period.

Uses of credit cards:

1. You can overdraft for consumption without deposit, and you can enjoy an interest-free period of 20-56 days and pay back on time without charging any interest (mostly The bank will charge an interest of 50,000 cents on the day of cash withdrawal and a handling fee of 20,000 yuan. ICBC will charge no handling fee for cash withdrawal and only charges interest).

2. Swipe your card when shopping, and points will be given as gifts. Use credit cards to make purchases, collect existing points with some credit cards, and enjoy various discounts and lucky draws throughout the year. (Most credit cards do not earn points for online payments, but online shopping payments are very convenient and fast.)

3. You can enjoy discounts when using the card at the bank's special merchants.

4. It is accessible nationwide and you can withdraw money or make purchases by credit card at ATMs and POS machines with the UnionPay logo. (Note: Credit cards are only suitable for consumption, and cash withdrawal fees are very high.)

Extended information:

Disadvantages of credit cards:

1. Annual fee required

Credit cards basically have annual fees, but they basically have annual fee-free policies. For example, China Construction Bank only needs to swipe the card three times a year to waive it; but if you do not swipe the card the number of times specified by the bank in a year, you need to An annual fee applies.

2. Fraudulent use

Credit cards are basically password-free by default. This makes it easy for others to use stolen money when it is lost or stolen, causing unnecessary trouble or loss; but in fact, credit cards can also be applied for consumption by swiping the card with the password.

3. Impact on personal credit record

Long-term malicious debt will naturally affect personal credit record and even be blacklisted by the bank. If you want to borrow money from the bank to buy a house or a car, you will It is possible to be rejected by the bank.

Baidu Encyclopedia-Credit Card