How to use a credit card and how to repay it

Using a credit card is just like ordinary consumption. It can be used wherever the card can be swiped. Returning the credit card is subject to the regulations. You can use mobile banking or go to the bank to repay during the repayment period.

1. The credit card needs to be activated first

To apply for a credit card, you can apply in mobile banking or at the bank. Most people can apply for it. What you need to do after getting the bank card It means activating the card. The credit card cannot be used before it is activated. There are currently two channels for activating credit cards. One is that you need to contact customer service by phone to activate, and the other is that you need to take your own credit card to the corresponding bank business hall to activate. Both methods are relatively convenient and fast. .

2. Credit card consumption

After the credit card is opened and activated, you can use the credit card for consumption. Credit cards are also very convenient in daily life consumption. You can pay online Pay directly by credit card, or directly bind your credit card to Alipay and WeChat. As long as there is a POS machine offline, you can use credit cards to make purchases. Even if some small stores do not have POS machines, it does not matter. As long as they can support WeChat Alipay, you can also use credit cards for shopping. From this point of view, the scope of use of credit cards in our lives is still very broad, which is one of the reasons why most people are willing to use credit cards now.

3. Credit card repayment process

After a happy consumption, we need to repay the credit card. The repayment process is also very simple. We only need to You need to first understand the difference between the two dates, one is the billing date and the other is the repayment date. The reason for remembering these two dates is to avoid overdue repayments later. These two dates are usually received together when we receive the credit card. The billing date allows us to see the bills and balances due for this period. Details, the repayment date is when we need to repay. If you want to avoid late repayment, you can directly bind a savings card with a certain amount for automatic repayment.

Credit card is a payment tool that has been widely used by most people, and its use and repayment are also very simple. You only need to bind Alipay WeChat to use it conveniently, and the repayment only needs to be repaid within the repayment date.

How to use and repay credit cards?

How to use credit cards: 1. Credit cards can be swiped at POS machines of offline merchants for consumption, can be used for payment in online malls, or can be bound to third-party formal platforms such as Alipay and WeChat for payment; 2 .You can withdraw cash at the bank's ATM machine, but the bank may charge a handling fee; 3. Apply for cash installment from the bank. The amount of the cash installment is generally 50% of the credit card limit. After successful application, the bank will transfer the money to your savings card. middle. Credit card repayment: 1. You can repay on regular third-party platforms such as Alipay and WeChat; 2. You can repay by inserting your credit card into an ATM and depositing money; 3. You can also repay on the bank's official website and mobile banking; 4 .Set up the automatic repayment function and bind a savings card. The credit card will automatically deduct money from the savings card on the repayment date.

1. The earliest credit card appeared at the end of the 19th century. In the 1880s, the British clothing industry developed so-called credit cards, and the tourism and business sectors followed suit. However, the cards at that time could only be used for short-term commercial credit, and the money still had to be paid as and when used. Long-term arrears were not allowed, and there was no credit limit. In the 1950s, McNamara, a credit expert in Manhattan, was dining in a restaurant. Since he did not bring enough money, he had to ask his wife to send money. This made him feel very embarrassed, so he organized the "Diners Club" (English: Diners Club). Members can bring a dining charge card to 27 designated restaurants to record their consumption without having to pay cash. This is the earliest credit card. Franklin National Bank was the first bank to issue a credit card, and other U.S. banks later followed. It is said that one day, American businessman Frank McNamara was entertaining guests at a hotel in New York. After the meal, he found that he had forgotten his wallet with him. He was deeply embarrassed and had to call his wife to bring cash to the hotel to settle the bill. So McNamara came up with the idea of ??starting a credit card company.

In the spring of 1950, McNamara and his friend Schneider invested US$10,000 to establish the "Diners Club" in New York, the predecessor of Diners Club. Diners Club provides members with a card that can prove their identity and payment ability. Members can use the card to record their purchases. This kind of credit card that does not require bank processing is still a commercial credit card.

2. The word "credit card" originally refers to the financial product introduced in this post. However, because there were no credit cards in China before, or even debit cards without any credit card functions became very popular. Therefore, real credit cards can only be given the nondescript name of "credit card". A real credit card has the following characteristics: it is not encouraged to deposit cash in advance, consume first and repay later, enjoys an interest-free payment period, can repay in installments independently (with a minimum repayment amount), and joins VISA, MASTER, JCB and other international credit card organizations to benefit the world. Universal.

3. Credit card Another way of saying this is that a credit card is a non-cash payment method and is a simple credit service. A credit card is generally a plastic card with a length of 85.60 mm, a width of 53.98 mm, and a thickness of 1 mm. It is issued to the cardholder by the bank or credit card company based on the user's creditworthiness and financial resources. The cardholder does not need to pay cash when using the credit card to make purchases. Make further repayments. Except for some credit cards combined with debit cards, general credit cards are different from debit cards and ATM cards in that credit cards will not directly deduct funds from the user's account. In February 2012, the bank confirmed that credit cards without passwords are more secure, and they share the responsibility for any fraud. Enjoy an interest-free period of 25-56 days (or 20-50 days). Card consumption enjoys an interest-free period, and there will be no fees if you pay off the bill before the due date. There is no interest-free repayment period for cash withdrawals. A daily interest rate of 0.05% will be charged from the day of withdrawal, and the bank will also charge a certain percentage of cash withdrawal fees.

How to use and repay credit cards

When it comes to using credit cards, the most cost-effective way is to swipe more cards, pay them back on time, and withdraw less cash and make fewer installments. As long as you use credit cards reasonably, you don't have to pay interest, annual fees, late fees, etc., and you can turn around funds for short-term investments in the short term, which is still very cost-effective. If you want to use credit cards rationally, you can refer to the following tips:

1. Withdraw less cash and use more cards

It is expensive to withdraw cash from overdrafts on credit cards, and you cannot enjoy the interest-free period. The amount of cash withdrawals is calculated on a daily basis. The interest is calculated at 0.05%, and a cash withdrawal fee is also deducted, ranging from tens to hundreds. Therefore, never overdraft to withdraw cash unless absolutely necessary.

2. Pay the card after the bill date to enjoy the longest interest-free period

The interest-free repayment period of a credit card is from the date of consumption to the due repayment date after the bill date. There is a difference of one month between the longest and the shortest period, so if you swipe your card on the first day after the statement date, you can enjoy the longest interest-free period.

3. Repay on time and in full

When the credit card statement comes out, there will be a final repayment date. Be sure to repay before the final repayment date. If the loan is not repaid by the final repayment date, the bank will not only charge overdraft interest but also late payment fees. In severe cases, it will cause bad credit and cause a lot of inconvenience for future loan applications. Moreover, if you repay in full before the final repayment date (you can exchange the full amount for consumption and cash withdrawals), you can enjoy the interest-free repayment period.

4. Only pay off the debt and avoid overpayment

The overpayment on a credit card is the excess deposit after the credit card holder pays off the debt. For credit card overflow deposits and withdrawals, many banks will charge additional handling fees (some banks do not charge them). Not only do you have no interest, but you also have to pay extra, which is really not cost-effective.

5. Swipe more cards to avoid annual fees

Credit cards charge annual fees. Generally, annual fees start to be charged the following year after application, but most banks require you to swipe your card a certain number of times each year. Or the annual fee for the next year will be waived after the scale is reached. Therefore, you might as well choose to use credit cards for daily shopping. As long as you repay during the interest-free repayment period without paying interest, and you can also accumulate points, why not do it.

6. Save points and redeem gifts

In order to encourage customers to use the card, banks will calculate points based on the amount of customer consumption. Points can be exchanged for gifts or used to offset consumption. So when you usually shop, swipe your credit card wherever you can (regular merchants) and accumulate points to redeem gifts.

7. Rational installment

Many banks provide customers with installment services, ranging from 3, 6, 12, and 24, to facilitate early consumption.

However, installment payment will incur additional fees, so if you don’t want to pay the handling fee, try not to choose installment payment if you can afford the consumption.

Credit cards can be repaid in the following ways:

1. In-bank repayment

The repayment methods mainly include: card issuing bank counter, ATM , online banking, automatic transfer, telephone banking repayment, etc. After repayment, the credit card limit will be restored immediately, and the payment will generally be credited to the account after the system processes it on the same day.

2. Mobile phone repayment

Mobile phone is a personal payment terminal of mobile financial system, which can be used to repay money directly by swiping the card, and can also perform transfers and other services.

3. Convenience store repayment

Convenience store repayment is mainly completed through the "Lakala" smart payment terminal installed in the convenience store. It usually takes 2 to 3 working days to arrive in the account, and there is no handling fee for repayment using this method.

4. Online repayment

The more common online repayment methods in China include: Baidu Wallet, UnionPay Online, Kuaiqian, Shengfutong, Alipay, Yipay, etc. Depending on the platform and bank you choose, the charging standards and specific payment arrival time will be different.

5. Inter-bank transfer

Inter-bank transfer/remittance repayment is mainly divided into two methods: inter-bank in the same city and inter-bank in different places. Regardless of the method of transfer or remittance, the remittance bank will charge a certain fee. At the same time, the time it takes for the money to arrive and the convenience of repayment are not as good as intra-peer repayment, online repayment, convenience store repayment and other methods.

That’s it for the introduction of how to use and repay credit cards.