The difference between savings card and credit card:
1, different roles and functions:
(1) Savings card: Its main function is to save deposits. Cardholders can read and manually enter passwords through the electronic payment network established by the bank and the magnetic stripe of the card, so as to realize credit card consumption, ATM withdrawal, transfer and various payment functions. The expenses incurred through the card are equal to the decrease in the balance of the savings account. If the account balance is zero, the payment function of the card will also be reduced to zero.
(2) Credit card: Credit card has all or some functions such as consumer payment, credit loan, transfer settlement, cash deposit and withdrawal. Consumers with credit cards can go to specialized commercial service departments for shopping or spending, and then the bank will settle accounts with merchants and cardholders, and cardholders can overdraw within the prescribed limits.
2. Different application methods:
(1) savings card: with my valid ID card, I will go to any business outlet of the bank to handle it. You must open a current account first. The account balance shall not be less than 10 yuan. Unstamped withdrawal account. Non-loss-reporting account, frozen account and normal account status.
(2) Credit card: The application method is generally to fill in a credit card application form and submit certain copies of documents and certificates to the issuing bank. After receiving the application form and related materials submitted by the applicant, the issuing bank shall review the applicant's credit standing. After the applicant successfully applies for a credit card, the issuing bank will open a separate credit card account for the cardholder at the issuing bank.
3, the classification is different:
(1) Savings cards are divided into magnetic stripe and chip.
(2) Credit cards are divided into credit cards and quasi-credit cards. Credit card refers to a credit card in which the cardholder has a certain credit limit and can spend first and then repay; Quasi-credit card refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund according to the regulations, and when the balance of the reserve fund account is insufficient to pay, it can be overdrawn within the prescribed credit limit. Credit cards generally refer to credit cards.
4. Different conditions of use:
(1) The savings card can only be used if there is a deposit.
(2) Credit cards can be repaid on time without overdraft, with an interest-free period of 20-56 days, without any charge (most banks will charge 0.05% interest and 2% handling fee on the day of withdrawal).