Consumption cannot be made if the signature on the credit card is not the person's. During the transaction, the merchant will not only check whether there is a signature on the back of the credit card, but also compare the consumer's signature with the handwriting on the back of the card. If the handwriting is consistent, the transaction can be completed. For transactions, if there is no signature on the back of the credit card, or the handwriting is different, the merchant has the right to terminate the transaction.

If someone uses your credit card to make a purchase, and it is not his signature when making the purchase, he does not have to acknowledge the account, and the merchant will be responsible because the merchant did not carefully check the signature when making the purchase, which ultimately leads to The loss will be borne by the merchant himself. This is because the credit card collection unit is obliged to check the consistency of the signature on the transaction form and the signature on the back of the card. If there is an obvious difference and the collection unit cannot prove that the consumption was made by the person, it will bear the loss.

Misunderstandings about using credit cards

Q: You can borrow money with a credit card. My income is very low, so applying for a credit card is of great help to me.

A: Wrong. The target customers of bank credit cards are high-end income groups. From the above characteristics, we can also see that the characteristics of credit cards are more about convenience than saving money. Not only do you have to pay an annual fee to use a credit card, but if you miss the repayment time, the penalty interest is very high.

Q: Credit cards have a minimum repayment limit, so when I borrow a lot of money and can’t repay it, I just need to repay the minimum amount.

A: Wrong, the minimum repayment amount is only This is the limit for the bank not to sue you, but you need to pay interest. Credit card interest is calculated on a daily basis and is compound interest, which is higher than ordinary loan interest.

Be clear about the difference between installment payment and monthly minimum payment. The annual interest rate for installment or commercial loans is about 5%, and even lower for special products. And if you only pay the minimum amount, the annual interest rate is more than 18%.

Q: Credit cards allow you to withdraw cash overdraft, so I can withdraw some cash for emergency use, which is very convenient for me

A: Correct. However, the interest on cash withdrawals is also calculated on a daily basis, and there is no interest-free period. Interest is calculated from the day the cash is withdrawn. The interest is also calculated on a daily basis, and is as high as the penalty interest for missing the repayment date. However, it is recommended to save a small amount of assets in a credit card in case of emergency, because there is no current interest on the funds in the credit card. What’s more fatal is that with many banks’ credit cards, even if you have cash in the card, you will still be charged a fee for withdrawing cash. A handling fee. So it is better to carry a bank savings card with you and keep a small amount of cash in it. There are very few places where you can spend large amounts in cash. You can usually pay with a credit card, and there is an interest-free period for using the card.

Q: I don’t remember how much I borrowed this month. I can roughly repay the amount. Even if it’s not enough, it’s only a small amount, and the interest won’t be much.

A: Wrong. If you do not repay in full during the final repayment period, and if it is not within the repayment tolerance, the bank will also need to recover all interest during the "interest-free period". For example, the 5th of every month is the last repayment day. You borrowed 10,000 yuan on the 6th of last month, and you only repaid 9,990 yuan on the last repayment day. Then, on the next final repayment day, you will We still have to pay one month's interest of 10,000 yuan - about 150 yuan, as well as the 10 yuan owed and one month's follow-up interest - about 1.5 cents.