Benefits of China Merchants Bank Credit Card: Compared with ordinary bank savings cards, the most convenient way to use a credit card is that it can be used for ordinary consumption without cash in the card. In many cases, as long as the amount of consumption is returned on schedule That's it.

1. You can use overdrafts without deposits, and you can enjoy an interest-free period of 20-56 days for on-time repayment without any interest charges (most banks will charge an interest of 50,000 cents on the day of cash withdrawal. There is also a handling fee of 2. Industrial and Commercial Bank of China waives handling fees for cash withdrawals and only charges interest);

2. Swiping the card when shopping is not only safe and convenient, but also provides gift points;

3. You can enjoy discounts when you use the card at the bank's special merchants;

4. Accumulate personal credit and add integrity records to your credit file, which will benefit you throughout your life;

5. Accessible across the country, 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, it is best not to withdraw cash, the cash withdrawal fee is very high, which is not cost-effective)

6. Spend by swiping your card, collect existing points with some credit cards, and enjoy various discounts and lucky draws throughout the year, so you can always be surprised just by using your card. (Most credit card online payments do not have points, but online shopping payments are very convenient and fast);

7. Free monthly mailing of statements, allowing you to transparently control every consumption expenditure; (Now promoting green environmental protection, you can Cancel paper statements and change to electronic statements)

8. The unique supplementary card function is suitable for couples to manage finances together or control their children’s financial expenditures;

9. The free choice of one card and dual currencies is available all over the world. Overseas consumption can be repaid in domestic RMB;

10.400 phone number or 5-digit short number starting with 9 is available 24 hours a day. Loss reports are effective immediately, and lost cards are zero-fee. Risk;

11. Have validity period: It is known that the validity period of domestic credit cards is generally three or five years.

12. Use third-party platforms (the domestic platform that supports credit card bill management is mainly Jujindou) to conduct business cooperation and provide preferential services to cardholders.

Disadvantages of credit cards: The invention of credit cards is like a double-edged sword, which can solve the temporary economic crisis. However, the purpose of banks issuing credit cards is to make money. Once the interest-free repayment time is exceeded, high fees will be charged. The interest on the amount is generally 0.05% per day.

1. Blind consumption

Swiping a card is not like spending money one by one like paying with cash. Once you swipe it, you will feel nothing, just a few numbers, which leads to blind consumption and spending money like this. Running water.

2. Excessive consumption

Installation for laptops, digital cameras, and smartphones. While enjoying your favorite items in advance, you must also consider whether you are able to repay them.

3. High interest rates

If you do not know how to take care of your credit card and cannot repay the loan as scheduled when the final payment date arrives, the bank will charge you high interest rates.

4. Annual fees are required

Credit cards basically have annual fees, but they basically have annual fee-waiving policies. For example, CCB only needs to pay three times a year to waive the annual fee. ; But if you do not swipe the card the number of times specified by the bank in a year, an annual fee will be charged.

5. Theft

Credit cards are basically used by default without a password. This makes it easy for others to use the card when it is lost or stolen, causing unnecessary trouble or loss; but in fact, credit cards can also be used to apply for swiping purchases with passwords - it depends on how you manage your credit cards. Of course, many people do not cancel their accounts after canceling their credit cards due to lack of experience in this area, and are criticized by some Criminals reapply for credit card overdrafts and lose money in vain, which is not worth it.

6. 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 in the future, you will have to There is a possibility of being rejected by the bank.

7. Repayment troubles

You have to go to the bank every month, which is often overcrowded, and not everyone can repay online.

8. Cancellation troubles

Once cancelled, it may not take effect immediately. It often happens that cardholders still receive bank statements several months after canceling the credit card after paying off all outstanding balances.