What is the routine of exchanging credit card points for cash?

Exchanging credit card points for cash is not a routine.

Exchanging credit card points for cash means allowing users to redeem their points into coupons or gifts, and then a third party will collect these gifts and convert the gifts into cash for the users. This set of processes is Points are redeemed for cash.

1. Because many credit card users do not know that points can be redeemed for gifts, and many people even know that they do not redeem them, just because those gifts are not what they want; hence the gift discount Intermediaries help users convert gifts into cash, and these intermediaries can also take the recycled gifts and sell them to earn the price difference.

2. Note: It is best to find a face-to-face intermediary when redeeming credit card points for cash. Redeem in person and give money in person. Do not trust people on the Internet, let alone website links in text messages; unfamiliar platforms on the Internet , unfamiliar websites and unfamiliar official accounts are likely to steal users' personal information in the name of point redemption, so don't believe it easily.

How are the points calculated for two Bank of China credit cards? Are they combined?

If you have two Bank of China credit cards, the two credit cards will accumulate points separately. When redeeming points, you can combine the points of the two cards to calculate the redemption.

The above content is for your reference, please refer to actual business regulations.

Can others collect points from my credit card?

This is completely possible and does not count as a trick. For example, when a friend wants to buy a large appliance or other high-priced item, he or she can use your credit card to help you earn points without any problem. But the premise is that after he uses it, he will pay the money directly to you or help you with the credit card, so as to avoid debt caused by failure to repay in time after using it.

What are credit card points called in law?

The crime of obstructing credit card management.

Many aspects of collecting points may involve criminal offenses:

Generally speaking, the way to collect points with a credit card is to cash out, such as swiping a sum on a merchant’s POS machine. After deducting the handling fee, the money will be refunded, and a small handling fee will be added to repay the money. In this process, there are no overdue, bad debts, etc., and the cardholder's points are also increasing rapidly, and they can later be exchanged for bank gifts, etc. , this is the process of points realization.

In fact, the operation of collecting points may seem simple, but it is very likely to violate the law. In the process of extorting credit card points to redeem gifts, multiple links such as credit card acquisition, brushing orders, and point redemption may involve criminal crimes.

For example, in the process of obtaining a credit card, if the perpetrator uses false identification to fraudulently obtain a credit card or illegally holds other people's credit cards, it may constitute a crime of obstructing credit card management.

In the process of fraudulent transactions, according to the provisions of Article 12 of the "Interpretation of Several Issues Concerning the Specific Application of Laws in Handling Criminal Cases Obstructing the Management of Credit Cards" of the Supreme People's Court and the Supreme People's Procuratorate, point-of-sale terminals were used in violation of national regulations. (POS machine) and other methods, directly pay cash to credit card holders through fictitious transactions, false prices, cash returns, etc. If the circumstances are serious, they shall be convicted of illegal business operations in accordance with the provisions of Article 225 of the Criminal Law punishment.

In addition, if the perpetrator obtains points and then exchanges them for bank gifts, it may constitute a crime. Public or private property, if the amount is relatively large, shall be sentenced to not more than three years, criminal detention or surveillance, and shall also or solely be fined; if the amount is huge or there are other serious circumstances, shall be sentenced to not less than three years but not more than ten years, and shall also be fined; if the amount is particularly huge or there are other serious circumstances, the sentence shall be not less than three years and not more than ten years, and a fine; For other particularly serious circumstances, the offender shall be sentenced to not less than ten years or more, and shall also be fined or have property confiscated.

Is it illegal to exchange credit card points for money?

It is not illegal to exchange credit card points for cash. When people use credit cards to make purchases, they can generally accumulate a certain amount of points, and these points can It is used to redeem some gifts, miles, etc., and it is not illegal to exchange credit card points for cash. To be precise, there is basically no such thing as converting credit card points to cash in banks, and the law does not clearly stipulate that it is illegal. Selling credit card points is risky. Selling credit card points is very likely to reveal the credit card password, and there is a risk of being stolen. "Credit card points exchange business" is originally a value-added service provided by banks to customers. It involves buying and selling credit card points and making profits from it. This has violated the bank's regulations, and users need to be responsible for all consequences.

If users find any promotions that offer credit card points redeemed for cash, they need to pay attention. This is likely to be a scam, set up specifically to defraud customers of their personal information and steal their credit cards. trap.

So when you encounter text messages or phone calls about redeeming credit card points for cash offers, you must be vigilant. Ignore the other party, don't click on the link sent by the other party easily, and be careful to avoid leaking personal information to the other party.

People must take extra precautions when using credit cards. They must take good care of their credit cards, and do not share their information, card transaction passwords with others at will, and do not disclose their information to others from unknown sources. Swipe your card at the POS machine.

Function of credit card:

1. Use points to offset annual fees

For some credit cards that require annual fees, using points to offset annual fees is the best option. For example, for high-level credit cards from some banks, the annual fees can be offset or partially offset with points.

2. Redeem points for gifts

Everyone should be familiar with this. You can search for credit card points options on the official website of the bank that issued the card and see that the points of this bank can be redeemed. products and the point prices of the products. Of course, the products of each bank may be different. In addition to the physical items, there will also be some commodity coupons, experience coupons and the like. But relatively speaking it is not very practical.

3. Points can be converted into airline miles

This is very suitable for business travelers who often need to fly. In fact, it can be understood that airline miles are airline points, and this Points can be redeemed for free tickets on the airline. So that means credit card points can be exchanged for free air tickets.

4. Points Lottery

Many bank credit card centers have launched points lottery activities. For example, with a China Merchants Bank credit card, you can participate in the drawing of iPad Mini with 9 points, but the winning rate is not high.

5. Points can be used to offset expenses

You can also redeem gifts at designated merchants and supermarkets. This part of the redemption is provided by the merchant, and the merchant has the final say.

There are also points that can be directly offset against cash, which can only be redeemed in bank cooperative stores. Points can be used as cash to buy things. For example, you can redeem it in some department stores, Starbucks, etc. However, in general, it still depends on the type of credit card. Some credit cards can be redeemed a lot, and some can be redeemed less.

6. Points for oil exchange

Some banks will also launch credit card oil cards, such as China Construction Bank Longka Auto Card. The points of this credit card can be exchanged for oil. Not only can it be exchanged for gas, which means it can be used to offset gas expenses, but it can also be exchanged for tolls. For example, the redemption ratio of car card points for oil change is: the portion above 50,000 points (exclusive) is calculated as 4‰ to be redeemed for refueling (that is, the portion of points exceeding 50,000 points is redeemed for 40 yuan for refueling for every 10,000 points), and the portion below 50,000 points is calculated as 2‰ exchange for gas fees (i.e. every 10,000 points can be redeemed for 20 yuan in gas fees).

How to use ICBC credit card revolving points

As we all know, credit card points can be used to redeem various gifts and rights. So how to use ICBC credit card points? Is it more suitable? Let’s take a look. How to use ICBC credit card points? ICBC credit card points can be directly redeemed for gifts, cash, or card consumption. The most common use of credit card points is to redeem products through the points mall, and can also be used to redeem credit card annual fees. How to use credit card points? It is recommended to redeem gifts by swiping your credit card in the points mall, or directly use credit card points to offset the annual fee when redeeming it. It is better to redeem credit card points for the annual fee than to use cash to offset the annual fee. After all, the annual fee needs to be paid. There is another method, which is to redeem credit card points and cash. You can redeem the annual fee by adding points and cash. How to use credit card points? In addition to redeeming goods, credit card points can also be used to redeem the annual credit card fee. In this way, the cardholder's annual credit card fee will be reduced, and the interest generated will also be reduced, so the cardholder can redeem the points through Annual fee.

How to use ICBC credit card points appropriately? 1. ICBC credit card points can be used to redeem points from merchants such as appointment registration, medical guidance, shopping, and physical examinations. They can also be redeemed for coupons such as air miles and train tickets. Points can be redeemed for airline miles and flight delay points. There will be corresponding announcements when redeeming airline miles.

2. Cardholders can redeem points for air miles. Each airline has different regulations. Points for redeeming air miles for air miles are permanently valid. 3. Each airline has launched exclusive airline points for a wide range of users. Points that can be used to exchange air miles for air miles, points that can be exchanged for air miles, and points that can be exchanged for air miles can be used to exchange points for air miles

That’s it for the introduction of credit card points.