When can I get credit by swiping a credit card?

Generally, purchases made by swiping cards at POS machines on the UnionPay network will be credited to the merchant's account on the second day, but sometimes it also depends on the account opening of the merchant. Whether the bank is the bank that opens the POS machine's account?

If it is the same bank, the account will be available the next day. If it is another bank, it will need to be cleared by UnionPay, which usually takes 2-3 working days. Can be credited.

As for consumers (credit card holders), after swiping the card for consumption, the account is usually debited the next day. Transaction details will be displayed.

1. Pay for other people’s consumption

The safest way to cash out your credit card is to help them pay for their purchases with your credit card when shopping with relatives and friends, and then ask them to give you cash. . This method does not require additional fees, and many people will use this method to cash out.

2. Cashing out personal purchases of POS machines

Currently there are many personal POS machines for sale on the market, and hand-swiped POS machines are also sold online. The operation of personal hand-swiped POS machine is relatively simple. You only need your ID card, name, and merchant name to open and register yourself. Bind a debit. You can use this mobile POS machine to collect money by swiping debit cards and credit cards. , the handling fee is generally 0.6-0.7.

3. Cash out from merchant POS machines

Cardholders cooperate with merchants or certain "loan companies" and "intermediary companies", and cardholders obtain the cash by paying merchants handling fees. Cash out. Generally, the merchant's POS machine is used to conduct false transactions and the amount on the credit card is transferred. The merchant or "loan company" or "intermediary company" pays the cardholder in cash on the spot. The handling fee is usually 1, and the price can also be negotiated.

4. Remote Cash Out via QR Code

As long as the credit card is bound to WeChat or Alipay, scan the QR code recommended by the merchant to enter the cash amount, bind the card and pay. The other party will then transfer the funds back to the cardholder's other bank account. In fact, you can make your own QR code for payment. Some APPs such as Leshu, Ruishu, Scanbei Pay, etc. can automatically generate your own QR code for payment, and the rate is generally 0.35-0.5.

Extended reading: How to cash out credit cards through Alipay

Your question is divided into two. First, how to cash out credit cards through Alipay. 2. How to make installments after withdrawal.

1. Apply for two or more Alipays. One of them needs to be certified (that is, Alipay can be withdrawn to the bank). Recharge Alipay through a credit card, then use Alipay to pay to another Alipay account, and then withdraw cash. come out.

2. After withdrawing the cash, you still cannot make installments. You can only use the above method before the final repayment date, and then withdraw the money to pay back the credit card amount.

When will the amount arrive when the credit card is swiped?

The situation when the credit card is swiped will be different. In many banks, the amount will be credited to the account in real time after the card is swiped. For some banks, it takes 1 to 3 days for the payment to arrive. For specific arrival time, you can call the bank's customer service hotline for consultation. Generally, you can just wait patiently in normal times. If the payment is not received for a long time, the credit card may be failed.

Users must exercise restraint when using credit cards to make purchases, and do not exceed their personal affordability. After all, every penny spent using a credit card needs to be returned. Failure to return it on time will incur penalty interest and affect personal credit, which cardholders need to pay attention to.

When users have difficulty repaying their credit cards, it is best to use installment repayment or the minimum repayment amount, which can reduce the monthly repayment amount, but requires users to pay a certain fee. Moreover, if you use the minimum repayment amount, you cannot enjoy the interest-free period. Interest will be calculated from the date of consumption until all outstanding debts are paid off.

Don’t pursue a high limit when applying for a credit card. When you first have a credit card, the limit is generally equal to your income. During the use of the credit card, you must repay it on time. Generally, the monthly consumption limit is not It’s fine if it’s more than half of your personal income, so you can ensure on-time monthly repayments.

How long does it usually take for the credit card to be credited?

If the cardholder uses the credit card after 11 pm, the credit card will generally be credited within two days. Different POS machines have different regulations on the specific time. Currently, POS machine consumption can be credited on day t, which means the account will be credited on the same day, or it can be credited on day t, which means the credit will be credited the next day after the card is swiped. It should be noted that eleven o'clock is a sensitive time that banks are more concerned about. Most shops and places for consumption are closed at eleven o'clock. If users frequently swipe their cards at eleven o'clock in the evening, banks are likely to carry out risk control.

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According to Article 7 of the "Regulations on the Supervision and Administration of Credit Card Business of Commercial Banks": A credit card refers to a bank that records relevant information about the cardholder's account, has bank credit limit and overdraft functions, and is Various media that provide cardholders with related banking services.

Credit cards stipulated in the relevant laws of our country ("Interpretation of the Standing Committee of the National People's Congress on Relevant Credit Card Regulations") refer to credit cards issued by commercial banks or other financial institutions with the functions of consumption payment, credit loans, transfer settlement , cash deposit and withdrawal and other full or partial functions of the electronic payment card. On December 1, 2017, the "English Translation and Writing Standards in the Public Service Field" was officially implemented, stipulating that the standard English name of credit cards is CreditCard.

Credit card consumption is a non-cash transaction payment method. There is no need to pay cash when consumption, and repayment will be made on the billing date (BillingDate).

Credit cards are divided into credit cards and quasi-credit cards. Credit cards refer to credit cards in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; quasi-credit card It refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund as required. When the reserve account balance is insufficient to pay, the cardholder can overdraw within the prescribed credit limit. The so-called credit card generally refers to a credit card only.

Starting from January 1, 2021, the credit card overdraft interest rate will be determined independently by the card issuer and the cardholder through independent negotiation, and the upper and lower limit management of credit card overdraft interest rates will be cancelled. The daily interest rate is 0.7 times 5/10,000).

On May 25, 2021, the Supreme People’s Court issued and implemented the “Regulations of the Supreme People’s Court on Several Issues Concerning the Trial of Bank Card Civil Cases.”

According to Article 7 of the "Regulations on the Supervision and Administration of Credit Card Business of Commercial Banks": A credit card refers to a credit card that records cardholder account information, has bank credit lines and overdraft functions, and provides cardholders with relevant banking services. All types of media.

The earliest credit card appeared at the end of the 19th century. In the 1880s, the British clothing industry developed so-called credit cards, and the tourism and business sectors followed suit. However, the cards at that time could only be used for short-term commercial credit, and the money still had to be paid as and when used. Long-term arrears were not allowed, and there was no credit limit.

That’s it for the introduction of how long it takes to get the money by credit card.