How to use credit cards

Credit cards have many functions, and different functions correspond to different usage methods.

The details are as follows:

1. Consumption: After activation, you can swipe the card on the merchant's POS machine for consumption, or bind it to WeChat, Alipay and other software for online payment;

2. Repayment: You can insert your credit card into the ATM and deposit the money to repay;

3. Withdraw cash: Insert your credit card into the ATM, enter the withdrawal amount and withdraw cash .

After you get a credit card for the first time, you need to activate it before you can use it.

Credit cards usually have an interest-free period of 20 to 50 days, and the current longest interest-free period is 56 days. There is no interest for overdraft consumption during the interest-free period. Cardholders need to correctly enjoy the interest-free period, repay in time when due, and do not incur overdue interest. The interest for overdue repayment is a unified daily interest rate of 5/10,000, compounded monthly. Therefore, timely repayment is very important.

If you correctly enjoy the interest-free period, you can also use the interest-free period to manage your finances. For example, you can spend more money with your credit card, free up cash in your hands, and invest in short-term financial products, such as monetary funds, etc., to gain income. On the eve of the repayment date, the monetary fund can be redeemed for repayment. Nowadays, there are many financial management apps that can remind you of the repayment date, and banks will also send messages or emails to remind you of the repayment date.

How to use a credit card?

Credit cards can be used in various consumption areas, such as shopping in shopping malls, dining, etc. They can be used wherever credit cards can be swiped, and can also be bound to third-party payments, such as Alipay, WeChat, etc. The credit card will also carry out promotional activities from time to time, including activities for some merchants, restaurants, and movies.

How to use credit cards and precautions

1. How to use credit cards:

1. Activate the credit card. After successfully applying for the credit card, it can only be used after activation. .

2. Consumption or cash withdrawal: Once the credit card is activated, it can be used for consumption. It can be bound to Alipay, WeChat and other software for consumption payment, or it can be swiped at merchants for consumption. If you need cash urgently, you can also withdraw cash through bank counters or ATMs. Consumption: After activation, you can swipe your card at the merchant's POS machine for consumption, or bind it to WeChat, Alipay and other software for online payment.

3. Repayment: Return the arrears after consumption and cash withdrawal as scheduled to avoid affecting future consumption.

2. Things to note when using credit cards:

1. Be sure to understand the relevant terms in detail before and after applying for a card. The phenomenon of "applying a card but not opening it" is currently common, and according to the terms and conditions of most banks, even if the credit card is not activated, annual fees still need to be paid.

2. Remember to repay before the interest-free repayment period. (Note: Overdue interest will not be eligible)

3. Pay attention to the fraction of the balance when repaying, and make full repayment. Many consumers do not pay attention to the small amount when repaying, and do not repay in full, resulting in arrears. If there are historical arrears, consumers will no longer enjoy the interest-free repayment period.

4. There is a time limit for applying for a temporary increase in credit limit (usually 1 month, and can be increased to 120% of the credit limit). After the validity period expires, it will

automatically revert to adjustment. previous credit limit.

5. Do not use credit cards to withdraw cash. It is best to use it for consumption settlement.

6. Do not use non-foreign currency credit cards to withdraw cash or settle accounts abroad. You should also use credit cards with caution for foreign consumption and domestic RMB repayment

functions, because this not only exposes you to the risk of exchange rate changes. You have to bear the losses caused by exchange rate changes yourself, and the card issuing bank has to charge related foreign exchange conversion fees, etc., and some also charge various fees from foreign agency banks, which is very costly.

7. After receiving the monthly credit card statement, you must pay the minimum repayment amount (usually 10% of the overdraft amount) during the repayment period.

What are the 10 steps to use your credit card correctly?

10 steps for using credit cards correctly:

1. New cards cannot be swiped out at once, and consumption categories must be increased. 2. Do not make long-term purchases at fixed merchants or discount merchants for several months. 3. Don’t use one card on a fixed date and swipe it out on the same capping machine at the same time. 4. Do not conduct transactions beyond normal hours. 5. Do not use Alipay for payment within a short period of time. 6. Don’t let your credit card remain empty for a long time.

7. Use your own credit card, do not use your own POS machine. 8. Integer single transactions are not allowed. 9. The same card cannot be used on multiple terminals in a short period of time. 10. The card cannot always enter the wrong password.

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 name of the issuing bank, validity period, number, cardholder 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 the merchants and cardholders. Cardholders can overdraft within the prescribed limit.

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 specified credit limit. The so-called credit card generally refers to a credit card only.

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