What is a credit card deposit? L/C deposit?

Introduction

Credit card deposits

Credit card deposits refer to the money that companies deposit into bank credit card accounts in accordance with regulations to obtain credit cards. Refers to the amount of money that an enterprise deposits into a bank's credit card account in order to obtain a credit card. You can deposit cash with a credit card, but there is no interest on standard credit card deposits, and you need to pay a handling fee when you withdraw the deposited money (this situation is called overflow recovery). However, there are also some special cards with savings functions, so you must read the terms before applying for a credit card and be aware of them. Before applying for a credit card, it is best to carefully read the regulations or cardholder instructions to understand whether the card carries interest, so as to avoid unnecessary misunderstandings and financial losses.

What does the credit card’s own deposit mean?

The credit card’s own deposit means that your credit card has the user’s deposit funds in the account. The user deposits this fund and the user does not need to pay an overdraft when withdrawing it. Interest.

What does credit card balance mean?

Credit card balance refers to the money remaining after deducting the overdraft credit limit of the credit card. If the credit card balance is zero, it means that the credit card has only an overdraft credit limit. If the credit card balance shows less than 100 yuan, it means that in addition to the overdraft limit, there is still 100 yuan available. If the credit card balance shows a negative number, it indicates the amount due. For example, if the credit card balance is -200 yuan, it means that you need to pay back 200 yuan to the credit card.

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 card consumption is a non-cash transaction payment method. There is no need to pay cash when consumption, and repayment will be made on the billing date (BillingDate).

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.

Starting from January 1, 2021, the credit card overdraft interest rate will be determined independently by the card issuer and the cardholder through independent negotiation, and the upper and lower limit management of credit card overdraft interest rates will be cancelled. The daily interest rate is 0.7 times 5/10,000). On May 25, 2021, the Supreme People's Court issued and implemented the "Regulations of the Supreme People's Court on Several Issues Concerning the Trial of Bank Card Civil Cases".

I would like to ask what the credit card bill deposit means

The credit card bill deposit means:

The credit card bill deposit is the overflow deposit, which is the user’s Deposit extra funds into your credit card when repaying the loan. Among them, the balance of credit card bill = the amount deposited by the user in the credit card - the amount due on the credit card. It should be noted that there is no interest on overflow deposits, but a certain handling fee will be charged when withdrawing money. The specific charging situation shall be based on the announcement of the card issuing bank.