Credit card consumption is a non-cash transaction payment method, and there is no need to pay cash when spending, and repayment is made on the billing day.

Product source

The earliest credit card appeared at the end of 19. From 65438 to 1980s, the so-called credit card was developed in British clothing industry, followed by tourism and business departments. However, at that time, the card could only be used for short-term commercial credit, and the money had to be paid back as needed. There was no long-term default and no credit line.

credit card

Credit cards are generally plastic cards with a special carrier, with a length of 85.60 mm, a width of 53.98 mm and a thickness of1mm. The name of the card issuer, the expiration date, the number and the name of the cardholder are printed on the front, and the chip, magnetic stripe and signature strip are printed on the back. Cardholders can use credit cards to shop, spend money and deposit and withdraw cash from banks.

According to the report issued by the People's Payment and Settlement Department of China, as of the third quarter of 20021,there were 798 million credit cards and debit cards, up by 0.97% from the previous month, and each person held 0.57 credit cards and debit cards.